The average American family is estimated to have spent 6.1% more on groceries in 2021 compared to the previous year, and if current metrics continue should expect to spend as much as $1,440 more on groceries heading into 2022.
Consumer prices have soared 6.8% as of November, and the consumer price index (CPI) gauge of inflation rose sharply in November as well.
In total, November 6.8% annual inflation rate is the highest since 1982.
While Americans first noticed these price increases in vehicles and large electronics, they soon began to appear in gasoline, housing, and ultimately food. The cost of food has risen 6.1% over the last year, with grocery store purchases up 6.4% and food from restaurants up 5.8%.
The average American family is, according to Channel 30000, expected to spend an extra $30 on groceries every week, with families having spent an average of $113 per week in 2019, and $141 per week under the Biden regime.
Over the course of a year, this adds up to $1,440 per family, or the rough cost of a down payment for a 2021 Chevrolet Spark.
Inflation continues to be among the key concerns for economics and the tumultuous Biden White House, which also saw another inflation record broken this month. As National File reported:
While the Biden White House and its affiliates in the media and pundit classes attempted to rebrand Joe Biden’s disastrous economy as “The Biden Boom” last week, today began with the news that wholesale price inflation has risen by 9.6% over the last year, making it the worst year in record since the Bureau of Labor Statistics (BLS) began keeping the record in 2010.
In the opening paragraph of its news release, BLS noted that prices continue to be up, and “On an unadjusted basis, the final demand index rose 9.6 percent for the 12 months ended in November, the largest advance since 12-month data were first calculated in November 2010.”
The data began being published during President Barack Obama’s first term, after his administration’s overseeing of the Great Recession of 2008 lead to another financial crisis in 2009.
Pundits have warned that the struggling economy may spell disaster for the Democrats in the upcoming 2022 midterm elections, even as Joe Biden has attempted to project confidence on behalf of his party as his first year in the White House comes to an end.