Inflation has been a constant source of concern since the moment life returned to pre-pandemic normalcy.
It’s also sparked a lot of debate, from those who think it’s a normal economic factor to those who blame the companies for their high prices.
But if TikToker’s latest video is to be believed, that debate is over.
Her Walmart grocery was 50% cheaper two years ago.
Creator @amywaytosave, whose content focuses on money-saving tips, conducted an experiment, going to Walmart and buying the same groceries three times in two years to see if the price changed Did.
What she finds is a pretty shocking indictment about what’s going on in our economy where inflation and food prices are at stake.
Amy found that even at discount retailer Walmart, the same groceries in 2020 are 50% more expensive in 2023.
Amy made a total of three purchases of the same order at the grocery store. Once he is in late 2020, second in 2022 and second in 2023.
What she bought was simple. Basics such as rice and beans, milk, eggs, bananas, and a mug of chorizo were enough to make “a person’s meal for a week.”
She got all of this, plus items like cornmeal, frozen veggies, and potatoes for $10.09 in late 2020.
After hearing all the talk about grocery inflation in early 2022, Amy went back to Walmart to buy the same items. But this time in total he made $11.13.
Of course, it’s not that big of a leap, about 10%.
But even for Walmart, if that seems so low today, especially given the nationwide egg shortage due to the 2022 bird flu outbreak, they’re on to something.
Amy came back a few days ago, did you see the same item in 2023? $15.10 — up a whopping 50% since late 2020.
And that’s just for those who buy groceries just for themselves.
Inflated costs are also likely a result of price increases.
The inflation we have experienced since returning to our pre-pandemic lifestyles is partly caused by the pandemic itself.
Like automakers, electronics makers, and all other industries, food producers stayed home, as did shippers who transport food around the world.
So when things returned to normal and consumer demand increased, there was little to no supply of goods and prices of everything skyrocketed.
Interestingly, however, the company will post record profits in 2021 and 2022. Just like buying things, if the cost of making something goes up, the profit should stay roughly the same, right?
But the opposite is happening – in a big way.
Companies such as Coca-Cola and PepsiCo, which make a variety of food products besides soda, saw their profits increase by 17% and 14% respectively in 2022, while restaurant chains like Chipotle grew by 26%. bottom.
And remember last year’s gasoline debacle?
Gas prices fell to a one-year low after President Biden threatened to impose a so-called windfall tax on oil companies to offset what he called “war profiteering.”
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TikTok users feel that corporate profits are the reason for the increase.
“In the meantime, their profits have never been higher. Why?” said one commenter named Mary.
And she certainly wasn’t alone. Many people received comments on Amy’s video that echoed her sentiments. One person wrote, “It’s no longer inflation, it’s price gouging.”
“I think it’s important to note that this is not just inflation,” another person added, adding, “This is companies intentionally raising prices and making record profits.” added.
Others vented their frustration that people denied inflation was a problem. One commenter wrote, “I’m tired of people saying inflation is not a problem, just raise the budget. That seems like a big difference.”
Thankfully, overall inflation is currently trending downward, but the good news is that food and restaurant prices are still rising.
If you’re looking to pick up a new hobby in 2023, would you recommend growing your own crops?
John Sundholm is a news and entertainment writer covering topics of pop culture, social justice and human interest.