The average household earned just over $87,800. The fed says inflation rose just 16.9% in 2021, 2022, and 2023. For that fake inflation rate and the average income that is a loss of $14,838. Or at your cost that is a loss of 742 chubs of ground beef per year.
Or at $4 per gallon of gas that is a loss of 3,710 gallons of gas. Or at a $2,000 house payment a loss of 7 months of house payments.
The average car payment for a new car is $738. So that inflation is a loss of 20 car payments a year.
If you earn less it takes up more of what was once free income to spend on what you want. Like birthday presents or Christmas presents for your kids. Maybe you help your retired parents with their bills. Now you have less to help them with.
Here in Kalifornia, insurance companies are pulling out of the State which is driving home insurance rates sky high. Just another out of control cost confronting the people trying to eke out a living.