[Hoot Gibson]

I did not think that Joe Biden could lead an army of ants to a sandwich, but thanks to Biden, the U.S. now leads the world's developed country in our inflation rate. However, we still trail the world's leader in inflation, Venezuela, but Biden earns an "A" for effort. Nobody has ever worked harder to sink this nation's economy.

U.S. Tied For Highest Inflation Of All The World’s Developed Nations: IMF

In 2021, the United States is tied for the highest level of inflation suffered by any of the world’s 35 developed economies, according to statistics released from the International Monetary Fund.

The U.S. and Iceland are for the fastest rate of rising prices among 35 advanced economies. The IMF’s “Inflation rate, average consumer prices” rated both nations’ inflation at 4.3%.

The world’s worst inflation rate belonged to socialist Venezuela, which experienced a whopping 2,700%.

The IMF figure is significantly lower than the 6.8% year-on-year increase in the Consumer Price Index that the U.S. Bureau of Labor Statistics reported last Friday. The BLS noted the soaring inflation rate through October marks “the largest 12-month increase since the period ending June 1982.”

The largest increases came from the cost of vehicles, gasoline, shelter, and food, the BLS noted.

The report stands as a further rebuke to the Biden administration, which spent months downplayed the impact higher prices have on average American citizens. The administration insisted the sticker shock consumers experienced in grocery stores and at gas pumps is “transitory.”