US consumers remain unimpressed with this progress, however, because they remember what they were paying for things pre-pandemic. Used car prices are 34% higher, food prices are 26% higher and rent prices are 22% higher than in January 2020, according to our calculations using PCE data.
While these are some of the more extreme examples of recent price increases, the average basket of goods and services that most Americans buy in any given month is 17% more expensive than four years ago.
Statistics also tell us that murder rates rise when ice cream sales go up.
So if there was a massive ice cream discount in the middle of winter, we should watch out for those murders!
Shh. Grown ups are talking.
Yes, we are. You can keep talking with us if you’d like. Was there something you’d like explained to you?