Article by: Connor Mercer
Inflation is a hot topic lately. Many people cannot afford what they could just a few years earlier. Some say we are currently in a recession. Claims like these aren’t far from the truth: Prices are up across the board.
Inflation is not universally consistent across the country. According to USAFacts.org, the areas hit hardest were the East South Central Region and the West North Central region, spreading from Alabama to Kentucky, and from North Dakota to Nebraska. States like California and Washington were also hit hard. In contrast, states like Maine suffered relatively less from inflation.
Metropolitan areas were hit hard. Cities like Miami saw inflation rates of up to almost 8% in the last year.
In the last five years, ground beef is up over two dollars, according to Statista.com. Milk prices are up by over a dollar since 2019, says the U.S. Inflation Calculator. One person I spoke to claimed a gallon of milk now costs five dollars. The national average price for a gallon of gasoline is two dollars higher than it was four years ago, according to a report from NY Databases. (This is in spite of a jump in 2022 many credit to instability in Europe in the wake of the Russian invasion of Ukraine.)
“I see gas for four dollars and think Wow, what a steal,” said one disgruntled blue-collar worker from California. “I don’t see prices getting any better.”
The price of electricity per kilowatt-hour has gone up 3 cents in the last five years, says the U.S. Energy Information Administration. This doesn’t sound substantial until actual energy usage is factored in. Anker, an electronics manufacturer, says the average household uses roughly 30 kilowatt-hours a day. That is a rise of 90 cents a day; over a 30 day period, you’re spending 27 dollars more on electricity a month on average.
Although many believe inflation has eased since the end of the Covid-19 pandemic, things are steadily getting worse.
While there is no universally agreed upon explanation, some point to corporate greed as a direct cause of the issue. “I’m not optimistic that [purchasing power] will increase unless we find a way to raise wages and seriously crack down on corporate price gouging,” said one annoyed shopper from Bethpage, New York. Others agreed: “Wages have remained relatively stagnant,” said a desk worker in Brentwood. Others were more direct: “Companies are going to want more and more money, year after year, and will keep raising prices.”
Others point out rampant spending by the Federal Government as reasons for inflation. The National Debt currently sits at $34 trillion and rising. Repeated foreign aid packages to countries like Israel, Ukraine and Taiwan cost taxpayers billions. Year after year, the Federal Government spends more than it earns back, throwing billions at military defense, space exploration, the Postal Service, federal aid to U.S. states, and federal wages. It’s generally agreed upon that government spending and inflation directly correlate, yet they seem to believe that their money is infinite.
When asked, most people said they believed things would only get worse. “Prices always rise and there will always be inflation,” said one person. “I don’t believe that there is any indication for things becoming less expensive over the next few years,” said another.
Of course, only time will tell. Unfortunately, there isn’t much the average Joe can do to combat inflation. They can merely adapt and survive. Spending less on luxuries like vacations, streaming services, or fast food is one method many use to spend less. Others have turned to more drastic measures, like budgeting their food supply. At the end of the day, inflation is not something controlled by regular people, and as a result, regular people cannot effectively fight back.
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