The Cloud People who live in D.C. and their Upper-Crust donors and pals are hammering the airwaves with the half-truth that 'there is little inflation!'
It is true that the inflation rate has gone down.
Unless you eat and food is a serious percentage of your budget.
According to the U.S. Bureau of Labor Statistics, prices for food and beverages are 20.20% higher in 2023 versus 2020 (a $0.20 difference in value).
Between 2020 and 2023: Food and beverages experienced an average inflation rate of 6.33% per year. This rate of change indicates significant inflation. In other words, food and beverages costing $1 in the year 2020 would cost $1.20 in 2023 for an equivalent purchase....
That's twenty percent. The $1.00-$1.20 makes it seem small--after all, what's 20 cents?
But from a $225/week year-2000 grocery bill, that 20% jacks it to $270/week in 2023.
Cloud people are not affected. But if you're in the lower 3 quintiles of income?
It matters a lot.
That's why the Biden crowd cannot get traction and enthusiasm among blacks and Hispanics. They have to deal with $44/week X 52 weeks ($2,300/year) cost increases for food alone.
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