Inflation still looms large over the heads of many Americans as they head to the grocery store.
A recent study by Axios Vibes found that 59% of respondents felt “angry, anxious, or resigned” while grocery shopping, with anger being the most common emotion. Additionally, 72% of respondents said food items would be most affected by inflation.
Although inflation has fallen significantly from its record high in 2022, prices are still significantly higher than they were before 2020. In December 2019, Americans had to spend about $125.51 on groceries that previously cost $100, according to data from the Bureau of Labor Statistics.
A majority of Americans reported feeling negative emotions while grocery shopping. (St. Petersburg)
in December 2023, Inflation actually increased by .3% to 3.4% compared to the same period last month. Although still well below its peak, it remains well above the Federal Reserve's ideal 2% target.
Voters question Biden's economy because of high food prices and interest rates: 'We still can't afford things'
Food prices have increased by 33.7%, shelter costs by 18.7% and energy prices by 32.8% so far in 2021, according to Fox Business calculations. Moody's Analytics also reported that Americans spent $211 more per month compared to the same time last year.
Overall, Americans are now paying an average of $1,020 more each month compared to the same period two years ago.
Inflation rose 0.3% to 3.4% in December. (eye stock)
A November Fox News national poll found that 68% of voters are dissatisfied with the current state of the country, and 78% said the economic situation has worsened since Biden took office. That number included 61% of Democrats.
Only 14% said they had been helped financially under the Biden administration.
Mr. Biden has frequently touted “Bidenomics” and touted recent December numbers as a sign of economic improvement.
Despite the spin, Americans know the truth about Bidenomics
“Before you know it, they feel a lot better about the state of the economy,” Biden said. “What we don't do is let people know exactly who made the changes. … Everyone is improving and they believe it. They know it. And… It’s just starting to sink in.”
Biden visited several small businesses to promote his Bidennomics economic plan. (Mandel Gunn/AFP via Getty Images)
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