Posted on 11/27/2023 9:16:15 AM PST by davikkm
In the wake of the economic tumult since 2020, American households are grappling with the harsh reality of surging prices. The cost of groceries has spiked by 25%, used cars have seen a staggering 35% increase, and rents are up roughly 20%. A revealing snapshot of consumer spending in 2020, where a four-person household shelled out an average of $238.32 per week on food at home, has now ballooned by 32%, reaching $315.22 in 2023.
Despite the Federal Reserve’s attempts to rein in inflation through rate hikes, the desired effects are elusive. According to Torsten Sløk, the Fed’s challenge is compounded by households locking in historically low mortgage rates during the pandemic. This phenomenon necessitates the Fed to sustain higher interest rates for an extended period to dampen economic activity and bring inflation back to its 2% target.
(Excerpt) Read more at citizenwatchreport.com ...
Thanks, Brandon!
“The cost of groceries has spiked by 25%”
________________________________________________________
Maybe 125% but certainly not 25%.
One of our shopping trips used to be about $100 per week. That’s now over $300 for FEWER things than we used to buy!
That’s a lot more than 25%!!!
And yet you-know-who keeps telling us the economy is getting better all the time. Some segments of the economy may be improving;certainly not all of them. Only ones I see really evident here is maybe the gas prices that are constantly fluctuating. The trick there is to try to plan gassing up when they are down a little.
It’s strange to list the increase in a bunch of prices - cherry-picking the biggest gains for shock value - and not mention wages.
At the lower end, worker wages are up MORE than 20%.
More like 200% plus! Almost had a heart attack last week at the grocery store. Up 25% week over week!
I can’t stand this anymore.
Well if you don’t count food, energy, housing.... things ain’t so bad. FIDIOTS!
🙏🇺🇸🇮🇱👍
So, THIS is how economics works huh? And 25% is BS. Lunch meat is at $14 per pound where I live. Roasted chicken is up from $5 - $9.
Baloney, $500 for food for four people will go fast. Try up 100%
I think they mean in the past week.
“I can’t stand this anymore.”
___________________________________
I know it. We’ve just about gone through all of our stock-up we were accumulating, because the plandemic made us realize just how vulnerable we were. We were trying to get a year’s worth behind us.
Now we are nearly back to where we were, as we are dipping in to reserves so frequently to cut costs.
Where is this magical place where groceries are only up 25%? I would love to relocate there, rents sound reasonable too!!!
Cataclysmic disinformation and deceit about the ONLY cause of inflation: the Federal Government and their money printing presses.
Why? Because inflation is TOO MANY DOLLARS in circulation.
“Stimulus” is direly causes Higher inflation - no middleman.
How utterly stupid, The Left knows they are ruining this country but others should know better.
https://www.youtube.com/watch?app=desktop&v=F94jGTWNWsA
That must be faulty data. Back in 2021, Treasury Secretary Janet Yellen said inflation is “transitory”. I’m not quite sure what that means. But Yellen is a very smart lady! So everything will be fine.
I’d like to continue my praise of Secretary Yellen, but my utility bills just went up, again. So I’m off to collect some tin cans by the side of the road. They’re worth a nickel apiece at the recycling center.
TBH Trump started the covid stimulus spending.
I knew back then we would get inflation....Biden just piled on....
Pox on both their houses AFAIAC
My favorite soup used to cost me $1.89/can - it’s now at $4.89 and it was on sale for that.
“At the lower end, worker wages are up MORE than 20%.”
Up more than 20% from when? Wages certainly have not increased enough to keep up with the inflation of the past three years. And no one has to cherry-pick prices to show increases. Everything is more costly. Some increases are only 15 to 20 percent, but many prices have increased 50 percent or more.
I purchased a frappe a week or two ago from an ice cream place I have visited for years.
Just three years ago, a frappe there cost $6.80. Then it went up to $7.00. Then $8.00. Then $9.00. A week or two ago, it cost $10.00.
I can’t buy frappes at that price anymore. That is just stupid.
Going into a convenience store, it cost about $4.50 for a 20 oz soda and a bag of chips. Last week, it cost me $8.00.
I really think the Left believes that if they keep saying the economy is great, and Biden isn’t getting the credit he deserves, people will believe it.
They might.
But I think things are going to crash before enough people buy into that.
> That’s a lot more than 25%!!! <
Yep. I’m also seeing less product with those higher prices. For example, my favorite granola bars were priced at around $ 2.75 for a package of six. Now it’s $3.50 for a package of five.
Oh, well. I’ve started to make my own granola. So I guess I’ll be okay until Biden starts pricing the basic ingredients out of my range.
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