Not only is it becoming more costly to purchase a home, but it is also becoming more difficult to sell one. Furnishing a home is furthermore becoming more expensive.
Thus according to Consumer Price Index statistics issued Thursday, the cost of household furnishings increased by 1.2 percent in July. The score for household furniture was up nine percent from a year ago.
A larger category, which covers furnishings and other durable household products, is up 7.2 percent, the most since 1980.
Due to a price drop last year, this is not a sector with significant annual gains. Last year, prices for home durables actually increased. However, they have been on an unstoppable inflationary rise for the past six months.
Nearly 80 percent of Americans blame Biden for inflation surge: poll https://t.co/SVy1lcQSyG pic.twitter.com/nd7vKNHUGY
— New York Post (@nypost) August 12, 2021
In July, the Consumer Price Index for home appliances went up by 1.9 percent, bringing the year-over-year increase to 3.6 percent. This is the highest annual rise since 1979, as well as the biggest monthly increase since 1981. In general, household appliances prices have decreased during the last sixty years.
In July, prices for household appliances increased by 2.9 percent over June. The price of major household equipment jumped by 3.2 percent. Cooking equipment, meanwhile, increased by 2.6 percent, and thus is up 6.2 percent from a year ago.
The price of lawn and garden gear surged by 1.5 percent. Yearly, prices have increased by 3.2 percent.
Most Americans Agree Inflation is Making Life More Difficult
A visual of the #BidenInflation spike… pic.twitter.com/eq8oTIqU81
— Steve Cortes (@CortesSteve) August 12, 2021
Over two-thirds of citizens believe hyperinflation is making things more challenging; also, 79 percent blame governmental economic policies, which are mostly established by Joe Biden.
In a poll conducted by Fox News, 1,002 randomly selected registered voters were asked if rising groceries, gas, and house prices have caused difficulty for their households.
70 percent replied yes when asked about grocery prices; 67 percent said yes when asked about gas prices and 53 percent said yes when asked about house prices.
When questioned what caused the price hikes, 79 percent accused the nation’s spending policies. This is nearly as high as those who accused the China virus pandemic (86 percent) and even greater than those who accused the economy’s normal ups and downs (72 percent).
Harvard economist breaks the bad news to CNN: Biden's inflation has wiped out wage gains from COVID relief bills https://t.co/J8cjEKVGAL
— TheBlaze (@theblaze) August 12, 2021
When it comes to the economy, Biden has turned voters against him. Only 47 percent of people approve of his economic management, while 49 percent disagree. In this poll, there has been a four-point drop in 2 months.
Biden’s approval numbers for his management of the China Flu is down ten percent; however, he’s still above the critical 50 percent with 54 percent support and 42 percent disapproving.
Biden’s total work performance has a 53 percent favorable rating, but it’s worth noting that Fox surveys are infamous for favoring Democrats and therefore unreliable.
The negative news for Biden and patterns make this survey noteworthy. For Biden, the patterns are all negative, particularly in terms of finance, which is to be expected, given that 86 percent of Americans are anxious about hyperinflation.
