Written by Vincent Cain
Thanks to the poor management of the economy by our government, inflation rates have risen 7% since last year, the highest rate in four decades. However, many staple items have gone up even more. According to a government report, beef prices have gone up 18%, and egg prices have risen 11%.
When comparing prices of certain items from last year to now, it is a detectable difference. For example, in August 2021, the cost of chicken tenders was $4.99 a pound. Compared to now, those same chicken tenders are $5.49. In that same month, two bottles of Diet Coke were $3, and now it costs $4 for two bottles. The cost of a particular box of rice rose from $1.29 to $1.99, over a 54% increase in price. Lastly, in September of last year, a large jug of Tropicana orange juice was $6.98, and a smaller jug of orange juice now is a dollar more expensive at $7.99.
Most things have risen in price, however, there were a couple of things that decreased. Prego tomato sauce was $1.88 in September, but it is now $1.50. Overall though, prices have risen, and it is unclear how much higher they will rise.
It is advisable to use coupons, stock up on items when you see a good deal, and shop at stores that are less expensive than others.
The Biden administration claims that curbing inflation is one of their top priorities. However, with the way things are with inflation currently, it hardly seems like they are trying.
The chairman of the Federal Reserve says it is possible that he will raise interest rates to slow it down.
Photo Cred: ABC 10