Polling found that an overwhelming majority of Americans are deeply concerned that rising inflation in the United States will continue under President Joe Biden, according to The Washington Examiner.
A whopping 88% are concerned that inflation is not only out of control, but that it will continue to climb under the current administration, adding instability to the economy.
Despite the White House’s conflicting signs about inflation projections, according to the Examiner, projections shared with Secrets from the Statista Research Department the inflation rate will likely increase at about 2.5% through 2024 and begin “tapering off” by 2026.
The rate is It’s currently at about 5.4%. However, according to the poll, the American people are starting to feel the widespread effects of the depreciation of the dollar.
Currently, Americans are paying 45% more for gas, 44% more for fuel oil, 5.6% more for milk, and even 8.4% more for bacon.