Increases from 2007 include rent going up by 27 percent, food increasing 12 percent, health insurance 42 percent.
Inflation has a slow methodical pattern of crushing every little dollar you have in your wallet. Even a moderate level of inflation is an enormous change when incomes go stagnant. There is talk about how spending this year isn’t all that great. This is a big deal considering that our economy runs on non-stop spending and a large part of spending happens during the holiday months. But Americans are still constrained from the Great Recession’s echo impact. The lingering financial problems remain and many Americans have swapped good paying jobs with many in low wage service jobs. The end result should not be a surprise but there is less to spend even with credit card access and more debt being thrown on cash strapped households. We keep hearing about how controlled inflation is but in reality, we are seeing price increases in many important segments of our society. No inflation they say. Let us look at some key items.
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