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This Chart Shows Just How Badly Inflation Is Outpacing Any Supposed Wage Increases

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The latest report shows that inflation-related price rises are more severe than any wage gains American workers have experienced in the past year.

Biden’s administration repeatedly spins economic statistics to convince people that wage increases are making them better off.

“For many Americans, wages are up this year,” the President said in remarks on the latest jobs report last month. “That’s good — we have to continue to keep wages growing. And we need even more high-paying jobs.”

“Even after accounting for rising prices, the typical American family has more money in their pockets than they did last year,” Biden said prior to that.

Even fact-checkers have scoffed at that statement, with Factcheck.org calling the claim “mostly malarkey.”

A new Urban Institute report reveals how absurd this assertion is.

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Real Wages not keeping pace with Inflation

A post on the Urban Wire blog shows how wages aren’t even vaguely keeping pace with rising prices due to inflation – focusing on fuel prices and rent.

“For Americans, recent dramatic surges in gas prices and rent have increased the costs of daily life at a quicker rate than wages,” author Yonah Freemark writes.

Axios covered the news, and reproduced the Urban Institute chart that shows the real cost of inflation to the American people.

This is an incredibly brutal visualization, which hammers home what’s happening in budgets, paychecks and wallets across the nation. It doesn’t matter how Biden Administration spins it.

While inflation rose to an all-time high 40 years ago, real wages fell under President Biden. Every month since President Biden signed $1.9 trillion in spending bills into law, the rate of inflation has exceeded wages.

That’s the reality facing voters every single day. They fill up their gas tanks every time. Each time they buy groceries. 

RELATED: Bloomberg lectures Americans on Inflation: Take the Bus, Eat Lentils and Let Your Pets Die

The Bidenflation Effect on Minorities

In a remarkable revelation, the Urban Institute report notes that Bidenflation is battering minority communities at a higher rate, something that would have allowed the media to brand the President’s predecessor as a racist.

“Households with low incomes—who are disproportionately people of color—will likely be particularly affected by these changes,” Freemark writes.

And how about switching to electric cars to cut gas costs, as the Biden administration advised? Maybe not quite as feasible as they’d like to think.

The Institute writes that while electric vehicles are gaining in popularity, “few Americans currently have them, and those who do are relatively wealthier on average.”

In other words, the White House can’t figure out why you poor plebeians can’t afford a pricy new vehicle as easily as they can.

Real wages aren’t rising, but inflation is. And that’s on President Biden. This is the Great American Payment Cut.

It is not something that the government suffers from. However, Americans are certainly suffering.