HOW INFLATION WORKS IN THE REAL WORLD

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by Jim Quinn

There is a great little restaurant in the Wildwood Crest, just before you go over the bridge into Cape May called Two Mile Crab House. It sits on the back bay.

Photos - Two Mile Landing Restaurants & Marina Wildwood Crest NJ - Restaurants - Restaurant Passion

People go there for great food and beautiful sunsets. It’s always packed. Even in the off-season we had to wait 25 minutes for a table on Saturday.

Wildwood Crest - Two Mile Landing/Crab House @ sunset tonight! : r/newjersey

Before we went, I checked their menu online. Below is a picture of the menu from their website. It hasn’t been updated since last October when we ate there on the last day of the season. I’m not a big seafood fan, so I got the 2 Mile Stuffed Chicken last year, and I ordered it again on Saturday.

The price today is $28. Except, last year you got a house salad, roll & butter, vegetable of the day, and choice of potato as part of the price.

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Now, if you want a salad, it will cost you $5. If you want a basket of 4 rolls with butter, it will cost you $4. Garlic mash potatoes and zucchini came with the plate.

The increase in price from $26 to $28 seems reasonable, but is 7.7%. In reality, if you wanted the same amount of food as last year, it would be $5 for salad and $1 for a roll. That would make the total $34, a 30% increase over last year.

This is the shrinkflation which we are all experiencing, in restaurants, grocery stores, and in our everyday lives.

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