by Austin Gae
The Heritage Foundation
All Americans are facing rising prices under the Biden-Harris administration, despite its claim that it’s “fighting to lower costs,” but the burden of soaring costs falls disproportionately on low-income families.
They spend a higher share of their income on necessities such as food and energy, which have seen above-average inflation. And since they already tend to buy the cheapest brands, they have far fewer low-cost alternatives.
A simple trip to the grocery store will frustrate many Americans. Since January 2021, the price of cereal and bakery goods has risen 25%, and chicken, the most common meat, has increased by 24%. As you head back home, you realize your car needs refueling, only to find yourself paying 45% more at the pump. You arrive home and turn on the lights, knowing that your electricity bill will be 31% more than it used to.