The same amount of money you spent on a dozen Grade A eggs in May 2021 now gets you approximately 43% fewer eggs. Here’s what 8.6% inflation looks like for the average grocery shopper:
With inflation rates sticking at 40-year highs, people keep getting pelted by the old chestnut about a dollar not going as far as it used to.
The Bureau of Labor Statistics’ closely-watched Consumer Price Index is mainly about price percentage increases — and Friday’s read showed steep ones for May. So if a customer tried paying $1.62 for eggs now, they’d be getting approximately 43% fewer eggs through their diminished purchasing power. Though equal amounts of goods are costing more now than a year ago, consumers are increasingly coping with “shrinkflation” too, where packaging gets smaller while prices stay where they are. Manufacturers shrink packages in the hope that consumers won’t notice they’re essentially paying more for less.
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