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.
You sound like an economist.
They may be but they aren’t a very honest one if they are. The idea that the only options are letting corporations take all the gains or a riot at the job site is very anarcho-capitalism.