From 2021–2024, inflation under Biden peaked at 8% in June 2022 and stayed above 5% for two straight years. By the end of his term, overall prices were about 17% higher than in 2020. Mortgage rates rose from around 3% in 2020 to more than 7% in 2023, which nearly doubled the average monthly payment on a new home. Groceries increased by 20–25%, gas prices topped $5 per gallon in many places, and household savings dropped from $2.3 trillion in 2021 to under $400 billion by 2024. During this time,
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From 2021–2024, inflation under Biden peaked at 8% in June 2022 …
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