One of the rumblings you hear around America these days is how you can almost eat out for the same price you can buy groceries in the store, and it’s getting worse as Biden-flation continues to destroy America at an alarming pace.
Americans are now set to fork out an extra $11,500.00 and that’s just if they want to enjoy the standard of living they had in 2020.
According to the latest annual spending data from our friends at the U.S. Bureau of Labor Statistics (BLS), and estimates that were published over at NerdWallet, it’s about to get worse.
According to those analysts, 2020 was the “last full year when inflation was relatively stable.” In that year, inflation was 1.23 percent, it’s a far cry from that now.
The Following is from The Epoch Times:
As of August, inflation in the United States stands at 8.3 percent, according to BLS data.
“In all of 2020, American households spent $61,300, on average,” the analysts wrote. “This number includes everything we spend our money on housing, food, entertainment, clothing, transportation, and everything else.
“In 2022, it stands to reach $72,900, a difference of more than $11,500 if consumers want to maintain the same standard of living.”
NerdWallet analysts said this is an average estimate, and therefore, one that’s “exact to a very few.”
“Those who earn (and therefore spend) more will see more dramatic dollar increases. Those who earn less may see less dramatic dollar jumps, but the impact of these rising prices could be more significantly felt,” they wrote.
According to analysts, total monthly household expenditures are up by $961 from 2020, while spending on groceries is up by $101. Shelter is up by $120 and household utilities are up by $70 per household, while gasoline has risen by a whopping $209.
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