Spending $100 on groceries doesn't fill up your shopping cart as much as it did five years ago.
Inflation-hit shoppers now need to spend $137 to buy the same basket of essentials they could buy for $100 in 2019, according to a Wall Street Journal analysis.
Rising prices are a central issue in the upcoming election, and Bidennomics has been criticized by Republicans for stealing Americans' paychecks.
According to the report, spending $100 at a grocery store doesn't get you as much as you did just five years ago.Getty Images
In 2019 under President Donald Trump, the average price for 12 eggs was $2.36, $1.48 less than the current average price of $3.84 under President Joe Biden.
Laundry detergent, on the other hand, currently has one of the biggest price increases compared to five years ago.
In 2019, a bottle of detergent cost an average of $7.83. The current price is $10.66, up $2.83.
Other essential items such as milk, butter, cereal and toilet paper are also rising in price.
A gallon of milk cost $2.73 in 2019, but now costs $3.25, an increase of $0.52.
Butter that sold for an average of $3.78 five years ago is now nearly $1 more expensive. Similarly, the cost of a bag of potato chips has increased from $2.26 in 2019 to $3.26.
The average price for 12 eggs in 2019 was $2.36, which was $1.48 less than the current average price of $3.84. AFP/Getty Images
Cereal, which averaged $3.36 in 2019, now costs $4.50, an increase of $1.14.
Toilet paper cost $7.08 five years ago and now costs $9.75, an increase of $2.67.
Frozen pizza, which averaged $3.77 in 2019, now costs $5.15, or $1.38 more.
Toilet paper now costs $2.67 more than it cost $7.08 in 2019.alamy stock photo
Strawberry jam and peanut butter prices increased by more than $1 compared to 2019.
Inflation remains high, but well below the 40-year inflation rate of 9.1% recorded in 2022.
The consumer price index, which measures changes in the cost of everyday goods and services, rose to 3.2% in February, one notch above the 3.1% headline inflation rate forecast by economists surveyed by FactSet.
Last week, the Core Personal Consumption Expenditure Index (a Fed-recommended measure of inflation that excludes volatile food and energy prices) rose 0.3% in February and 2.8% from a year earlier, reflecting the difficulty of controlling prices. highlighted.
Food prices rose 1% in February compared to a year earlier, according to the latest inflation report.
In 2019, a bottle of detergent cost an average of $7.83. The current price is $10.66, up $2.83.Getty Images
In February 2023, food prices increased by 10.2% year-on-year.
In the pre-pandemic period, price increases were much smaller. Food prices in February 2019 increased by 1.2% compared to the previous year.
According to the Bureau of Labor Statistics, food prices have increased 21% over the past three years.
Cereal, which averaged $3.36 in 2019, now costs $4.50, an increase of $1.14. ltyuan – Stock.adobe.com
Fed Chairman Jerome Powell said Wednesday that the Fed remains committed to its strategy of lowering interest rates this year.
Mets owner Steve Cohen, who made his fortune as a hedge fund manager, told CNBC on Wednesday that he expects a tough road ahead in the Fed's efforts to bring inflation closer to its 2% goal. Ta.
