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The impact of inflation on your grocery bill




The impact of inflation on your grocery bill

Eddie Welker Flickr/Creative Commons

Here’s a little update on inflation and how it affects your daily life. If you bought $100 worth of groceries five years ago, those same groceries would cost $137 in 2024.

That’s how much prices have risen since 2019.

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Binomics to Blame for Inflation?

It’s simple: US dollars don’t go as far as they used to.

And it’s definitely a key issue in the 2024 election, with Republicans blaming “Bidenomics” for the drastic change.

The New York Post reports“In 2019, during Donald Trump’s presidency, the average price of a dozen eggs was $2.36 – or $1.48 cheaper than the average price of $3.84 today under Joe Biden.”

“Laundry detergent has seen one of the largest price increases today compared to five years ago,” the Post notes. “In 2019, a bottle of laundry detergent cost an average of $7.83. Today it costs $10.66 – up from $2.83.”

That’s a big leap.

The inflation story continued:

Other essentials such as milk, butter, cereal and toilet paper have also soared.

A liter of milk cost $2.73 in 2019, but is $0.52 more expensive today, at $3.25.

Butter, which sold for an average of €3.78 five years ago, is now almost €1 more expensive – as is a bag of chips, which has risen to €3.26, compared to €2.26 in 2019.

Cereals, which cost an average of €3.36 in 2019, are now €1.14 more expensive – with a price of €4.50.

Toilet paper, which cost $7.08 five years ago, now costs $9.75 – an increase from $2.67.

Frozen pizza, which cost an average of €3.77 in 2019, will now cost you €5.15 – or €1.38 more.

Strawberry jam and peanut butter saw their prices increase by more than $1 compared to 2019.

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Rising costs lead to higher prices

The Wall Street Journal, the publisher that originally compiled the figures, reported: “Executives have said higher prices were needed to offset their own rising costs for ingredients, transportation and labor. Some U.S. lawmakers and the Biden administration have criticized food companies for using tactics like shrink inflation, in which companies shrink their products — but not their prices.”

Whatever the reasons, Americans are currently feeling the price increases in their wallets. Whoever they blame for it – well, that could be a major obstacle for the presidential candidates.

Inflation is happening, even if this White House wants voters to believe otherwise.

The American people are not stupid.

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