Gasoline averaged $2.488 per gallon under Trump, 2017-2020 inclusive.
Obama told Gingrich in 2012 that $2.50/gal was a phony promise.
Har-dee-har-har.
Under Biden-Harris gasoline has averaged $3.583 per gallon to date (using three quarters of 2024 at $3.531 as if it were a full year).
The average price of a new vehicle 2021-2024 is about $48,436 vs. $38,948 in 2019, an increase of 24%.
Many other basic foods, not shown, are still near their all-time-highs, like dried beans for example, or potatoes, sugar, and flour, but you knew that if you've been grocery shopping recently.
Eggs, at $3.204/dozen on average nationally in August 2024, are higher right now than their average annual price EVER: $2.857 in 2022, $2.796 in 2023, and $2.469 in 2015. Eggs averaged $2.798 in the first half of 2024.
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| A record 672% in the first half of 2024 |
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| 675% in the first quarter of 2024, a new record |
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| 669% in the second quarter of 2024: "Energy prices are coming down" lol |
CNBC May 10th: McDonald’s is working to introduce a $5 value meal
But the next to last paragraph indicates they ain't got one yet lol:
An initial proposal by McDonald’s for the $5 value meal did not clear necessary hurdles.
Yeah, no kidding. That's cause your $5 value meal was ten years ago.
The New York Post April 3rd: McDonald’s menu prices have increased by over 100% during the last decade: study
McDonald’s has jacked up its menu prices by more than 100% over the
course of the last decade — more than three times the rate of US
inflation, according to a research report. ... Now, a Quarter Pounder with Cheese meal goes for $11.99 — more than double the $5.39 it cost in 2014, according to a study by FinanceBuzz, which cited average prices nationwide. ...
The analysis by FinanceBuzz found that McDonald’s was one of 13 restaurants that have raised menu prices in the last decade by 60% on average between 2014 and 2024 — or nearly double the cumulative national rate of inflation of 31% over that period.
While McDonald’s was the worst offender — tripling the rate of inflation, according to FinanceBuzz — Popeyes, Taco Bell, Chipotle and Jimmy John’s raised the prices of their menu items at more than double the actual inflation rate, the study found.
It's like Obamacare.
The London PM gold fix soared 437% between 1970 and 1978 using average prices.
Gold is up about 60% since Powell became Fed Chair in February 2018. Gold has risen from about $1333 to $2142 on an average basis.
Gold hits fifth record high in March on Fed rate-cut view :
Gold prices on Thursday hit record highs for the fifth time this month after the U.S. Federal Reserve signaled it would press ahead with three rate cuts in 2024 despite elevated inflation.
Spot gold was up 1.1% at $2,209.65 per ounce at after hitting an all-time high of $2,222.39 earlier in the session. U.S. gold futures soared 2.4% to $2,212.40. ...
Despite recent high inflation readings, Fed chair Jerome Powell said the U.S. central bank is still likely to reduce interest rates by three-quarters of a percentage point by the end of 2024, but that it also depends on further economic data. ...
Lower interest rates decrease the opportunity cost of holding non-yielding bullion . . ..
In January 1984, ground beef was $1.29/pound.
Adjusted for inflation to August 2023, it should be $3.89/pound, according to the inflation calculator at bls.gov.
Ground beef is actually $5.08/pound, 30.5% higher.
In March 1986, potatoes were $0.21/pound.
Adjusted for inflation to August 2023, they should be $0.59/pound, according to the inflation calculator at bls.gov.
They are actually $1.09, 85% higher.
The national average price of daycare and preschool services rose 6% in July from a year before, the Labor Department reported recently. That was nearly double the overall inflation rate of 3.2%, which was down from its recent peak of 9.1% in June last year. ... a mother of three living in Blaine, Minn. ... said she is paying about $2,500 a month for child care this summer.
More.
It's nearly 30% overpriced.
The inflation-adjusted pound of ground beef over the period should cost $3.82.
I buy the good stuff, however. My burger costs $1.50, washed down with a cheap pint of Hamm's Beer for 83-cents.
I'll be back to beans and rice on Monday.
A man's gotta do what a man's gotta do.
The simple egg is now 25% more expensive at Sam's Club compared with pre-Covid. I used to pay routinely $3.98 for two dozen like those shown below. Prices nationally have fallen only to the unusually high levels of 2015.
Whole chicken is up 23%, electricity 18%, and both appear to be stable or rising.
Avian flu is now only sporadic.
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