The Heritage Foundation has introduced a new tool and website, MyInflation.com, aimed at helping Americans evaluate the impact of inflation on their household finances. This initiative comes in response to what the organization describes as record inflation resulting from the Biden-Harris administration's economic policies.
Parker Sheppard, Director of the Center for Data Analysis at The Heritage Foundation, emphasized the importance of this tool in a statement:
“When Americans see headlines about rising Consumer Price Index numbers, the impact on their daily lives often feels abstract and disconnected. While official data shows a 21.1 percent increase in average prices over the past four years, many find that their grocery bills, gas, and rent have surged far beyond this figure.
“Average statistics can’t capture the unique ways inflation affects each household. That’s why we created the Personal Inflation Calculator—a tool that delivers a tailored report on how inflation specifically impacts your cost of living.
“The rapid increase in the cost of living for American families is a direct result of unnecessary federal spending and the Federal Reserve's printing money to pay for it. Our Inflation Calculator exposes the hidden tax of rising prices, helping Americans grasp the true costs of the Biden-Harris economic policies.”
