Cost Of Living In The US Is Much Higher Than Pre-Pandemic Levels: Report | Benzinga
In a concerning turn of events for U.S. households, the impact of inflation is persisting, with the cost of living remaining significantly higher than pre-pandemic levels. A recent Bloomberg report highlights that what once cost $100 now requires $119.27, underscoring the substantial inflationary impact on various aspects of household budgets. Groceries and electricity prices have surged by 25%, used car prices have risen by 35%, and rents have climbed around 20% since 2020.
Despite government reports indicating a deceleration in the inflation rate, there is little comfort for the American people, as prices are not showing signs of returning to pre-2020 levels. Housing affordability is at an all-time low, and borrowing costs for auto loans and credit cards have reached unprecedented highs. Even with salary increases for many Americans since 2020, the inflationary trend has offset these gains, leaving the average American no better off than before.
The frustration over soaring prices and borrowing costs could impact the 2024 presidential election. A recent Bloomberg News/Morning Consult poll reveals that the economy is the primary concern for four out of ten voters in swing states. As households grapple with these economic challenges, the trajectory of inflation and its repercussions will likely play a significant role in shaping the political landscape in the upcoming election……..
[read more]
Rising Dough
Considering the current economic climate, what strategies could businesses employ to navigate the challenges posed by inflation and, in turn, ensure the satisfaction of both investors and consumers?
*Click on the “Full Loaf” icon to read the full article! After you read the full article, let us know your thoughts.
Share this content:
they could start by making the prices higher or having everybody donate to charity so that they are helping people out and inflation could calm down.
Offering sales and discounts. Especially with black friday rolling around a lot of sales will be coming in expeditiously so offering discounts and things that aren’t selling well can be donated to many kids who don’t have things that other kids have. So in turn they will be making well off sales and promoting kids and donation organizations so it will look well for the business in the end.
Businesses could do deals that aren’t to low but are high enough to seem like a great deal. They could also put a discount on things that people are not buying to eventually sell them.