Here’s a little update on inflation and how it’s affecting your daily life. If you bought $100 worth of groceries five years ago, those same groceries would cost $137 in 2024.
Here’s how much prices have increased since 2019.
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Is Bidenomics to blame for inflation?
It’s simple: American dollars no longer go as far as they used to.
And it is certainly a significant issue in the 2024 election where Republicans blame “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 less than today’s average cost of $3.84 under Joe Biden.”
“Laundry detergent, meanwhile, has seen one of the largest price increases today compared to five years ago,” the Post notes. “In 2019, a bottle of detergent cost an average of $7.83. Today it costs $10.66, an increase of $2.83.”
It’s a big leap.
The inflation story continues:
Other vital commodities such as milk, butter, cereal and toilet paper have also soared.
A liter of milk cost $2.73 in 2019, but today it costs $0.52 more, at $3.25.
Butter, which five years ago sold on average for $3.78, now costs almost $1 more, as does a bag of chips, which has risen to $3.26, compared to $2.26 in 2019.
Cereal, which cost an average of $3.36 in 2019, now costs $1.14 more, with a price tag of $4.50.
Toilet paper, which cost $7.08 five years ago, now costs $9.75, an increase of $2.67.
Frozen pizza, which cost an average of $3.77 in 2019, would now cost you $5.15 — or $1.38 more.
Strawberry jam and peanut butter saw their prices increase by more than $1 compared to 2019.
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Increased costs lead to higher prices
The Wall Street Journal, the newspaper that originally compiled the numbers, reported: “Executives said higher prices were needed to offset rising costs for ingredients, transportation and labor. Some U.S. lawmakers and the Biden administration have criticized food companies for using tactics such as inflation restraining, in which companies reduce their products, but not their prices.”
Whatever the reason, Americans are feeling rising prices in their wallets right now. Whatever the blame for that, well, that could be a major obstacle for presidential candidates.
Inflation is happening, even though the White House wants voters to believe otherwise.
The American people are not stupid.
