The Commander-in-Chief, Joe Biden, insisted in a recent discussion that his economic approach has had a positive impact, despite the substantial 25–30% increase in costs for fundamental consumer items since he assumed the presidency. 'To mince his words, Biden asserted, 'We need to maintain our resolve, remain unwavering, and persistently churn out these remarkable jobs. Of note is that the remuneration attached to these roles outstrip the rate of inflation. We have this under control, it just requires a bit more patience. Our focus is undeterred,' claimed Biden.

Biden's economic strategy as a whole has been dubbed 'Bidenomics.' However, according to various surveys, a significant number of Americans rate their personal financial situation as a top worry as we approach the 2024 election season. 'In April, we did see a slight easing off of inflation, but the still significant price rises unveiled this week continue to add to a total that could be Biden's most intractable economic hurdle in the 2024 campaign. According to figures from the adjusted Consumer Price Index (CPI), prices have now escalated by over 19.4% in the past three years or so during Biden's tenure,' was a revelation made by Yahoo! Finance on Wednesday.

Just to give some perspective, during President Trump's four-year term, the rise in prices was barely below 7.8%. The editorial board of the New York Post also offered their thoughts, opining that Biden is leading the nation astray regarding the economic situation: On a positive note: The latest CPI figures show a minor moderation in inflation. But the caveat: all the other metrics indicate we could be facing more, not less, difficulty in the future.

CPI figures for April came in 3.4% higher than the previous year, a slight decrease from March's 3.5% surge. However, we still find ourselves well above the desired figures of Federal Reserve Chair Jerome Powell. In addition to this, the Producer Price Index (PPI) for April witnessed a 0.5% increase, outpacing the 0.3% projection by economists - the PPI generally gives an indication of where the CPI is headed, as manufacturers inevitably pass on elevated costs to their consumers.