WASHINGTON, D.C. (WBOY) — Sen. Shelley Moore Capito (R, WV) Wednesday addressed a term you may have heard lately—”Bidenomics.”

The term is meant to summarize President Joe Biden’s economic policies. In recent weeks, the president has been using the term more as political analysts say he’s using “Bidenomics” as the foundation of his 2024 re-election campaign.

But recent Associated Press-NORC Center for Public Affairs Research showed that only 34% of American adults approve of how Biden is handling the economy, compared to 41% estimated to approve of the president overall.

Just Wednesday, a tweet from the @POTUS account said:

Today, we learned annual inflation has fallen 12 straight months to 3% – the lowest in over two years.

I ran for office to grow the economy from the middle out and bottom up, not the top down: that’s exactly what we’re doing.

Bidenomics in action.

While inflation figures are trending downward, it’s worth noting that last year, inflation in the United States reached a 40-year record high. A healthy inflation rate, according to the Federal Reserve, is between 1.5% and 2.0%.

Another @POTUS tweet said “Bidenomics in action” is:

• Unemployment below 4 percent for the longest stretch in 50 years

• Inflation cut in half compared to one year ago

• Job satisfaction at a 36-year high

• Highest share of working-age Americans in the workforce in 20 years

• Low-wage worker pay growing at the fastest pace in over 20 years

Capito, the vice chairman of the Senate Republican Conference, was the first of six senators in a series of speeches on the Senate floor Wednesday afternoon.

“Today’s inflation report marks the thirtieth straight month that year-over-year inflation is over the target rate of 2%,” Capito said. “The president is touting this decreasing inflation as something to celebrate, but there’s really nothing to celebrate here. Americans have felt the blunt and unapologetic force of inflation for over two years.”

She said West Virginians are feeling the effects of that inflation.

“I can assure you after being home for the last two weeks that these false messages aren’t really resonating with the American public,” Capito said. “If you spend a few minutes at a supermarket, a car dealership, a retail store, or if you’re looking to purchase or rent a home, or if you face energy or utility bills, or the prices at the pump that middle-class American families are having to pay, that everybody’s paying, this should be no surprise.”

Capito’s office said in a press release that the most recent Bureau of Labor Statistics data shows that since Biden took office:

Grocery prices have increased 20%.

Prices for food out have increased 18%.

Energy prices have increased 38%.

Prices for fuel oil have increased 45%.

Gasoline prices have increased 52%, regardless of type.

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%.

Clothing prices have increased 10.8%.

Airfare has increased 39%.

“Bidenomics means you are getting less while spending more,” she said.

Capito said that inflation is costing West Virginia families, on average, an additional $713 per month.