Here’s a little update on inflation and how it’s affecting your everyday life. If you bought $100 in groceries five years ago, those same groceries would cost $137 in 2024.
That’s how much prices have increased since 2019.
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Bidenomics To Blame For Inflation?
It’s simple: Americans’ dollars just aren’t going as far as they used to.
And it’s definitely a significant issue in the 2024 election in which Republicans are blaming ‘Bidenomics’ for the drastic change.
The New York Post reports, “In 2019, during Donald Trump’s presidency, the average price of a dozen eggs was $2.36 — or $1.48 cheaper than the $3.84 average cost today under Joe Biden.”
“Laundry detergent, meanwhile, has seen one of the largest price jumps today compared to five years ago,” the Post notes. “In 2019, a bottle of detergent cost on average $7.83. Today, it costs $10.66 — an increase of $2.83.”
That’s a big jump.
The story on inflation continued:
Other vital items like milk, butter, cereal and toilet paper have also soared.
A gallon of milk cost $2.73 in 2019, but is $0.52 more expensive today, at $3.25.
Butter, which sold for $3.78 on average five years ago, is nearly $1 more expensive today — as are a bag of potato chips, which have spiked to $3.26, compared with $2.26 in 2019.
Cereal, which cost $3.36 on average in 2019, is now $1.14 more expensive — pricing out at $4.50.
Toilet paper, which was cost $7.08 five years ago, now costs $9.75 — an increase of $2.67.
Frozen pizza, which cost $3.77 on average in 2019, would now set you back $5.15 — or $1.38 more.
Strawberry jam and peanut butter saw their prices rise by more than $1 compared to 2019.
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Rising Costs Lead To Higher Prices
The Wall Street Journal, the outlet that originally compiled the numbers, reported, “Executives have said that higher prices were needed to offset their own rising costs for ingredients, transportation and labor. Some U.S. lawmakers and the Biden administration have criticized food companies for using tactics such as shrinkflation, in which companies shrink their products—but not their prices.”
Whatever the reasons, Americans are feeling the price rises in their wallets right now. Whoever they blame for it – well, that could be a major obstacle for the presidential candidates.
Inflation is happening, even if this White House wants voters to believe otherwise.
The American people aren’t stupid.
