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Just how bad is the U.S. cost-of-living squeeze? We did the math
By Reade Pickert and Jennah Haque
Bloomberg News
Monday, November 27, 2023
After years of inflation, U.S. consumers are shouldering a burden unlike anything seen in decades -- even as the pace of price increases has slowed.
It now requires $119.27 to buy the same goods and services a family could afford with $100 before the pandemic. Since early 2020, prices have risen about as much as they had in the full 10 years preceding the health emergency.
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It's hard to find an area of a household budget that's been spared: Groceries are up 25% since January 2020. Same with electricity. Used-car prices have climbed 35%, auto insurance 33%, and rents roughly 20%.
Those figures help explain why Americans continue to register strong dissatisfaction with the economy: Consumers' daily routines have largely returned to their pre-pandemic normal, but the cost of living has not.
... For the remainder of the report:
https://www.bloomberg.com/graphics/2023-inflation-economy-cost-of-living/
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