Inflation is so high that Americans are cutting back on food spending. The nonprofit food bank is spending 40% more to purchase the same amount of supplies as last year.

by BoatSurfer600

Inflation is so high that Americans are cutting back on food spending, per WSJ.

— unusual_whales (@unusual_whales) July 31, 2022

The nonprofit food bank is spending 40% more to purchase the same amount of supplies as last year, in which they served 85 million meals

Source: https://www.foxbusiness.com/economy/food-banks-face-inflation-struggles-surging-demand-never-seen-anything-like-this

If CPI prints at 0% every single month between now and December (!), we will still finish 2022 with 6.3% YoY inflation.

And you talk about pivots… pic.twitter.com/SUc6wt7My4

— Alf (@MacroAlf) July 31, 2022

You’re seeing the rising prices at the store.

The GDP has declined two quarters in a row.

But the Biden administration still refuses to admit we have a problem.

— Sen. Marsha Blackburn (@MarshaBlackburn) July 30, 2022

pic.twitter.com/syxOuwlObB

— Investing.com (@Investingcom) July 31, 2022

US 5-year inflation expectations bounced during this week

The FED is not doing enough to slay inflation pic.twitter.com/DUo2VxJgdi

— Alessio (@AlessioTMAD) July 31, 2022