How it Started... How it's Going: Inflation under Biden drives up costs for bread, butter, chicken

foxbusiness.com:

'The Big Money Show' co-host Brian Brenberg shows how inflation under President Biden has made life much more unaffordable for Americans on 'Varney & Co.'

President Biden reacted to a report that showed inflation was higher than expected in February with a statement noting that prices are lower than a year ago – though not lower than when he assumed office. 

A report released by the Labor Department on Tuesday said the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.4% in February from the previous month. It was a higher number than the 0.3% monthly increase recorded in January. 

«My top economic priority is lowering costs and today’s report shows we continue to make progress on that front. Inflation is down two-thirds from its peak and annual core inflation is the lowest since May 2021,» Biden said in a statement, adding that wages have risen faster than prices since the pandemic. 

«Prices for key household purchases like gas, milk, eggs, and appliances are lower than a year ago. Inflation is down while unemployment has remained below 4% for the longest stretch in more than 50 years,» Biden said. 

INFLATION RAN HOTTER THAN EXPECTED IN FEBRUARY AS HIGH PRICES PERSIST

A customer shops in the meat department at a Costco store in Teterboro, New Jersey, on Feb. 28, 2024. Grocery prices have increased more than 21% since 2021. (Stephanie Keith/Bloomberg via Getty Images / Getty Images)

But what the president did not mention is that prices for common grocery items remain above what they were in January 2021, when he assumed office. A previous FOX Business report examined how inflation has driven up the cost of milk and eggs, according to data from the U.S.