Bidenflation: $100 Doesn't Buy What it Used to at the Grocery Store

[Geee]

Hot Air

Who are you going to believe - President Joe Biden or your lying eyes? That's the choice as Biden runs for re-election. 

 

The Biden campaign is determined to tell tall tales. One favorite is that the economy is humming right along and consumers are reaping the results. This is news to most of us who live in the real world. One basic point of comparison is that of grocery prices. Everyone knows that trips to their local grocery store come with sticker shock on purchases. Any number of items that were purchased last month, or last week, may have gotten more expensive during your trip to re-stock this week. 

Yeah, most prices aren't coming back down. It may happen on some items, as it has for eggs in a lot of areas, but not many other items. 

If you have $100 to spend, you have to put back $37 worth of groceries before checking out. $100 of groceries in 2019 now costs $137. Items like sports drinks are up 80%. That may not be a necessity for many families but if there are kids who play sports or do outdoor activities in the house, they see it as a necessity. 

Prices increased by one percent from February 2023 to February 2024. The most dramatic jump, though, took place from 2022 to 2023. That increase was a whopping 10.2 percent. 

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.

In 2019, a bottle of detergent cost on average $7.83. Today, it costs $10.66 — an increase of $2.83.

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.

[Geee]

Half of Americans struggling to afford housing, survey finds

Many Americans are struggling to keep a roof over their head amid the high cost of housing in the U.S.

About half of homeowners and renters said they have periodically struggled this year to afford their mortgage payment or rent, according to a recent survey from online real estate broker Redfin. To keep up with their housing payments, some homeowners and renters report selling their belongings, picking up overtime shifts, canceling vacations, working a second job and even skipping meals. 

The cost of housing in today's market means "some families can no longer afford other essentials, including food and medical care, and have been forced to make major sacrifices," Chen Zhao, economics research lead at Redfin, said in a statement. 

Redfin based its findings on a survey of roughly 3,000 homeowners and renters in February.

A 2023 survey from Clever Real Estate found that 62% of homeowners sometimes struggled to make their mortgage payment on time. :snip:

[Valin]

1 hour ago, Geee said:

Hot Air

Who are you going to believe - President Joe Biden or your lying eyes? That's the choice as Biden runs for re-election. 

 

The Biden campaign is determined to tell tall tales. One favorite is that the economy is humming right along and consumers are reaping the results. This is news to most of us who live in the real world. One basic point of comparison is that of grocery prices. Everyone knows that trips to their local grocery store come with sticker shock on purchases. Any number of items that were purchased last month, or last week, may have gotten more expensive during your trip to re-stock this week.