For more than two years now, higher prices have been pinching consumers’ wallets and testing their patience — but there’s at least one part of their monthly budget that has more breathing room these days: For the average U.S. worker, it now takes fewer hours of work to afford a week’s worth of groceries than it did five years ago, in August 2019.
Nominal grocery prices are higher, but the reality is groceries are cheaper in real terms than 5 years ago.
Understandable that lots of Americans are fooled by nominal price hikes, but we're FBGs and know better.
Do tell
-But mind you Gas/Fuel is UP, my $2.79 quart of Og Half/Half prior to the pandemic is now a "pint" and sells for $4, I pay 50% more and get 50% less, it wasn't like this in 2019
I would sure like to hear how this is all in peoples minds, inabilities to process the prices at their grocery stores, all just an optical illusion
-Let me share something so we're on the same page, I was using the cost of my dozen eggs I buy as a barometer, I like my morning eggs and weekend brunch and I go thru a lot of eggs
A few years back i started buying the blue shell eggs with the brightest orange yolks you have ever seen, I never knew what real eggs tasted like
And they cost about $8 per dozen prior to pandemic. I watched the little pink cartons of cheap white eggs go up and up and up and up, we all know the folks who buy those eggs
I can remember a 6-pack of eggs was like 99 cents for the longest time but regular eggs are now close to $5-$6 per dozen and my premium eggs only went from $8 to a whopping $9 now
Mrs and I don't eat out very much these days, we definitely have 86'd going out for Brunch because my eggs are better than most breakfast meals we find around town and they charge $10-$15 for a plate of white eggs w/pale yellow yolks, some greasy meat and some deep fried potatoes so we just eat at home
I'm sharing this because I think the grocery prices have been especially rough for folks that can least afford it
How do you not see or feel the prices at the grocery store?
Alright, do tell
It's not an optical illusion, the typical American is paying more for most things......nominally. The economy grows, prices tend to go up. But so do wages, and over the last couple of decades they have done so at an even higher rate.
Median REAL wages are higher than they've ever been (other than the covid spike). They've been trending up since the mid 90s. That means the typical American has more buying power than they did in the 90s!
The price of gas goes up and down. But it's currently at the same price as it was in 2007, is as low as it's been at anytime since early 2021, and almost $2 below where it was in the middle of 2022.
Look at the blue line here, the percentage of disposable income spent on food at home (since this is the grocery store thread). It's still near all time lows, at 5.3% last year. Look what our parent's had to deal with!
72 Million Americans don't seem to look at things like that if you believe what they told people this past Tuesday, i'm just trying to find out what things cost
Talking Heads - "But if you go to Page 9 on this report written over at this place and compare 2024 to 2007"...I don't need to do that.
Gas was cheaper between 2016-2020, that's not a crazy statement, it's just the truth
I really appreciate what you're saying, please don't get upset with me but if we're going to move forward I think we have to acknowledge that some people are really hurting at grocery stores
And it comes down to what everyone eats and their lifestyle
Mrs and I work out of the house 4 days a week, I drive a vehicle that sucks up 93 at the pump, I think I paid around $4 a gallon the other day and I don't fill up the tank as often as others
Do you really think i sweat what gas prices are running? I'm sure California is paying more than i am in Florida right now.
That said, my 25 year old son who has to drive in to work 4 days a week vs being home 4 days a week, he complains about it all the time, his interest rate on his home is around 7% where as I have a 2.9% interest rate. Many of us on these boards live a blessed life and I'll leave it at that. I told my wife just today how lucky we are that things have mostly worked out financially as we set out when we were more around my son's age.
I hope you're not angry or mad that people are trying to find out why so many seem to be struggling. I think just telling people that everything is OK and compare it to the 90s, 25 year olds and that age group cannot relate to the 90s. I get what your saying but a mortgage is over double what it was 5 years ago, people can't keep up and something has to give.
I'm kind of shocked home prices didn't roll back more, especially in the places like Florida where real estate was steady for a long time and then just exploded
Not everyone got to cash in on that. Not everyone has a 401k and those that do have access thru their work many don't invest into them much to my dismay
If you go back to where I was bumping this thread, i was trying to point out what I think are some real deals at a grocery store I like to frequent, thought I'd share where I was getting some good food iMO and the prices are typically fair and they run a lot of sales...helping my fellow FBG
Thanks for the post SF