FOX Business’ Madison Alworth speaks to diners in Reading, Pennsylvania who are still feeling sticker shock.
President Biden may have touted an economic “resurrection” in Thursday night’s State of the Union address, but Americans still woke up Friday morning feeling an inflationary hangover.
“We’re going to go grocery shopping now. We go every week and spend about $300. I don’t see any change at all. In fact, I feel like it’s going up,” says diner Iris. told FOX Business’ Madison Alworth. In “Kabuto: Coast to Coast”.
“I got a letter home saying my rent is going up, my insurance just went up, so everything just keeps going up and up,” she continued. “I couldn’t tell any difference.”
Iris was one of four guests who exposed the harsh realities of the Biden economy, arguing that even though inflation statistics have cooled, everyday inflation and sticker shock still exist.
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And while Mr. Biden struck a positive note about the economy in a national address, declaring that “wages will continue to rise and inflation will continue to fall,” price data from the U.S. Bureau of Labor Statistics shows that shoppers are concerned about It shows why it is natural.
Four restaurant owners in Reading, Pennsylvania spoke out against the “increasing and rising” prices of food and groceries. (Fox News)
A look at just two common items on grocery lists, eggs and milk, reveals a significant price increase from January 2021 to January 2024.
In January 2021, the average price for 12 Grade A eggs in US cities was $1.47. Four years later, its price has increased by 52.6%, and the average price per dozen is $2.52. Meanwhile, in January 2023, the retail price of 12 eggs soared to $4.82.
Another main household product is milk. Three years ago, he said, in January 2021, the average cost of whole milk in U.S. cities was $3.47 per gallon. As of January 2024, prices have increased 13.2% to $3.96 per gallon.
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One Pennsylvania diner said he’s seeing the same trend with orange juice. “A gallon of orange juice costs $6.80 or about $6 and you can find it at Walmart. You wouldn’t really expect that,” a woman named Tana also told Alworth. .
“I have a home business and I make cookies, and I need bags to put them in, so I buy 150-count bags at Walmart. I used to buy them for like $3, but now they’re $6.50. It’s a dollar or so, and it’s plastic,” Tana continued. “It never comes down. Nothing comes down.”
Her friend Marcia is concerned about pricing in the American real estate market.
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“Housing prices are still high, interest rates are still high, so we don’t know what’s going to happen,” Marcia said. “I don’t see how the economy can do well when both of those things are high.”
Iris’ husband, Alfonzo, a semi-truck driver, also feels the rising cost of living while on the road.
“Everything is fine. Parking space, fuel, everything is fine,” he said. “I see it everywhere I go.”
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Johnny Roger’s owner Barrett Dabbs details how his Concord, North Carolina, barbecue and burger joint, Varney & Co., is being hurt by inflation.
Biden has accused companies in recent weeks of “inflating prices to inflate profits, charging more and more for less and less.”
“That’s why we’re cracking down on companies that engage in price gouging and deceptive pricing in everything from food to health care to housing,” the president said.
FOX Business’ Chris Pandolfo contributed to this report.
