Bidenflation Ravages America
(AmericanProsperity.com) – If anyone thought inflation was a fabrication of the GOP, they’re certainly seeing its effects now. Prices have increased across the board for American consumers, many of whom are struggling to make ends meet. The surge in prices has led to a decrease in consumer confidence.
U.S. consumer confidence fell in April as views on current conditions turned a bit grimmer amid signs that inflation continues to surge. https://t.co/z7UbEYpZwM
— Breitbart News (@BreitbartNews) April 27, 2022
According to the Conference Board’s Consumer Confidence Index, the numbers have been bleak. The index indicates only 20.8% of those polled considered business to be “good,” and a mere 18.1% felt optimistic about conditions changing anytime soon.
Lynn Franco, the Conference Board’s Senior Director of Economic Indicators, talked about the decline, asserting that consumer confidence is weak but still relatively high. Franco talked to Breitbart about how consumers’ intentions dropped when it came to taking vacations but increased in consideration of large purchases, such as cars or appliances.
She admitted that plans to purchase are overall down, which she attributed to rising interest rates. Franco mentioned that inflation concerns were at an all-time high in March, explaining they’ve dropped since but are still high. She believes the Ukraine situation and inflation may drive consumer confidence down even further.
Prices are rising. Meanwhile, many Americans are making the same amount of money they always have. The result is less buying power and therefore less consumer confidence, and the trend will continue unless the Biden administration gets inflation under control.
~Here’s to Your Prosperity!
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