Inflation is making headlines again this week. The federal government’s latest data show that consumer price rose 7.5 percent from January 2021 to 2022. That’s the highest rate of price inflation we’ve seen in nearly 40 years!
What does this mean for everyday American families?
A new analysis from Moody’s Analytics reports that the average US household is paying an additional $250 a month thanks to this inflation.
“A lot of people are hurting because of high inflation,” Moody’s senior economist Ryan Sweet told the Wall Street Journal. “$250 a month—that’s a big burden. It really hammers home the point of ‘what is the cost of inflation?’”
This disturbing revelation brings into focus something we already knew about inflation: it hurts the working class the most. While $250 a month is hardly a noticeable increase for millionaires, that could easily strain a working-class or even middle-class family’s budget past its breaking point.
fee.org/articles/inflation-is-costing-households-250month-moody-s-analysis-finds/
Rapper and shill for socialist Sen. Bernie Sanders (D-VT) Cardi B, whose net worth is an estimated $40 million, is complaining about inflation, lamenting how nearly “everything” has gone up in price, and admitting that she hasn’t “really been keeping up with a lot of political stuff” now that President Joe Biden is in the White House.
“I haven’t really been keeping up with a lot of political stuff, because it’s just getting very overwhelming,” Cardi B said in a recent interview with radio host Billy Bush, posted by Extra on Thursday. “There’s certain things that, like, I was looking last year or, like, two years ago, and the market is just extremely high.”
Bidenflation Crashes the Super Bowl Party: Prices Soar For Wings, Guac, Chips, and Snacks
This year’s Super Bowl parties will have an uninvited guest: high inflation.
The prices of gameday finger foods have soared, in many cases beyond even the forty-year high of 7.5 percent inflation reported by the Department of Labor Thursday.
Food inflation overall is running at seven percent, the highest rate since 1982. Food-at-home inflation is running at 7.4 percent. But many of the items that are popular at Super Bowl parties are seeing even higher price hikes.
“It will cost about 8 percent to 14 percent more than 2021,” Wells Fargo estimated in a recent report.
Guacamole: Good luck finding avocados. This year, avocados are available in about one-quarter of the number of stores as last year. And the average price is at $1.24 up from 78 cents last year, a massive 58 percent price increase.
Chicken Wings: Thursday’s consumer price index shows that chicken parts prices are up 11.6 percent compared with a year ago. But that includes drumsticks, thighs, and breasts. Focusing in on wings, prices are up 27 percent, according to the U.S. Department of Agriculture. Silver lining: they are available in about three times as many grocery stores as they were a year ago.