https://www.nationalreview.com/the-morning-jolt/youre-not-imagining-food-inflation/
On the menu today: A new report in the Wall Street Journal confirms what you likely suspected — despite the Consumer Price Index numbers (CPI) getting much closer to normal, you’re still paying more to eat, whether you’re shopping at the grocery store or going out to a restaurant. In fact, Americans haven’t spent this much of their money on food since the early 1990s — a fact that is likely to widen the divide between the administration’s happy talk about the economy and Americans’ perceptions that they’re constantly being squeezed, even if they’re making more money than a few years ago. Meanwhile, to fight the rising cost of living, states are hiking the minimum wage, left and right. Hey, it’s not like that increased cost of labor could ever get passed along to consumers, right?
The ‘Shrinkflation’ Election
Have you had this experience? You read that the year-to-year numbers of the CPI indicate that inflation is largely, if not completely, beaten . . . and then you go to Trader Joe’s or your local grocery store, or you take the family out to eat, and when the bill comes you think someone has mistaken you for a much wealthier person. Did I accidentally get charged for a Lamborghini in there somewhere?
(This is where the typical Biden-defending lefty will jump in and say, “This is because you’re shopping at expensive stores and restaurants!” For what it’s worth, Trader Joe’s is less expensive than the average grocery store*. And if you want to argue that by living in northern Virginia, I’m buying food in a part of the country with a higher cost of living, fine, but the point is not that things are expensive compared to other places, it’s that things are expensive in this place compared to prices in the not-so-distant past in this place. )
Over in the Wall Street Journal, Jesse Newman and Heather Haddon lay out the numbers demonstrating that we’re not just imagining this. Americans are spending the biggest share of their income on food since 1991:
The last time Americans spent this much of their money on food, George H.W. Bush was in office, “Terminator 2: Judgment Day” was in theaters and C+C Music Factory was rocking the Billboard charts.