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The final inflation report of the Bidenomics era is out now, and it wasn't any better than its predecessors. In the month of January, inflation once again was hotter than expected.
Month-over-month inflation for January was 0.5%, which is 0.2% higher than the Dow Jones estimate of 0.3%. The year-over-year inflation told a similar story; that number came in at a full 3%, while Dow Jones had estimated just 2.9%.
So, where did consumers see the biggest jump in prices? According to Cheryl Casone on Fox Business, one of the biggest line items was eggs. She said, "53% year-over-year jump in egg prices, from January of 2024 to January of 2025. That really hurts the American consumer."
Remember, the Biden Administration had ordered around 100 million egg-laying chickens to be killed in 2024 due to concerns about bird flu. The Trump Administration had previously pointed to that as the primary cause for the jump in egg prices.
Casone also pointed to price increases in gasoline, motor vehicle insurance, and housing as contributing factors to the higher-than-expected inflation report.