“Why is everything so expensive?”… Inflation has decreased from last year, signifying a slower rate of price increase rather than a decline in prices.

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via Bloomberg:

After years of inflation, US 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.

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%.

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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.

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