Covid Played a Part, but This Rise in Food Prices Was Foretold by Gold a Year Prior

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Americans Pay More for Groceries, Clothes and Appliances

U.S. shoppers have been paying more than last year for a range of consumer goods during the COVID*19 pandemic, from eggs and deli meat to running shoes, according to a Reuters analysis of the latest pricing and sales data.

Inflation Is Higher Than the Numbers Say

This distortion has led other economic statistics to paint an artificially rosy picture of our current situation. The problem is that measures like real output, real wages and poverty are calculated using inflation adjustments that don’t reflect the higher cost of living during a pandemic. This might help explain why measured poverty has fallen even as lines at food banks have grown.


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