Why Americans are bummed out about the economy
Why Americans are bummed out about the economy
Because grocery bills and rent prices are unlikely to return to where they were just a few short years ago, the psychological scars from the war on inflation will linger, write Dana M. Peterson and Erik Lundh.
US consumers remain unimpressed with this progress, however, because they remember what they were paying for things pre-pandemic. Used car prices are 34% higher, food prices are 26% higher and rent prices are 22% higher than in January 2020, according to our calculations using PCE data.
While these are some of the more extreme examples of recent price increases, the average basket of goods and services that most Americans buy in any given month is 17% more expensive than four years ago.
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Corporate price gouging
Ding ding ding. I have no idea where they're pulling these numbers from when my grocery bill has doubled since the pandemic. I wish it was only 26% higher.
Yeah I agree, anecdotally my wife and I spend roughly $200 a trip when we used to spend about $100. It may not be exactly double but it's very close.
That's pretty much exactly my experience. I'm a perpetually single dude so it's just me, but my weekly bill went from ~$60 to ~$100 and it hasn't budged since.
Supply and demand is such a fucking disgusting "theory" that is only used as an excuse to raise prices, never to lower them...
Amen to that brotha.