Skip Navigation

Why Americans are bummed out about the economy

www.cnn.com Opinion: Why Americans are bummed out about the economy | CNN

Because grocery bills and rent prices are unlikely to return to where they were just a few short years ago, the psychological scars from the war on inflation will linger, write Dana M. Peterson and Erik Lundh.

Opinion: Why Americans are bummed out about the economy | CNN

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.

105

You're viewing a single thread.