Total inflation since President Biden took office grew to 17.1 percent (House Budget Committee) Since January 2021, the cost of construction materials has risen 29% Grocery (food at home) prices have increased 20%. Overall manufacturing costs are up 23%. Iron and steel costs are 28% higher. Industrial chemicals cost 22% more. Domestic shipping costs are up about 29% since 2021. Packaging costs for these products are up 41%. Energy prices have increased 38%. Prices for fuel oil have increased 45%. Gasoline (all types) prices have increased 52%. Natural gas prices have increased 20.7%. Electricity prices have increased 26%. Rental prices for a primary residence have increased 15.6%. Prices for used cars and trucks have increased 35%. Prices for new vehicles have increased 20%. Furniture prices have increased 18.8%. Apparel prices have increased 10.8%. Airline fares have increased 39%
