....so look out! Math is not my strong suit--but here is what I did.
I looked at the percentage increases in food prices for the years in that chart, which you posted.
I assumed that an item was $1--and I increased the price of that item by the percentages listed.
The $1 item went from $1 to a final cost of $1.27 cents. That's nearly a 30 percent increase in prices!!!! No one in the media is talking about this...AT ALL!
Again, not a math person--but I think I'm pretty close (I would love someone else to check my work!).
I intuitively understood that food prices have gone absolutely nuts. I'm one of those crazy couponers, and I pay very close attention to prices. I know that some items have doubled in price. Also, the cost of staples such as milk, eggs, bread and hamburger have definitely increased more than 30 percent. A pound of hamburger has doubled, and milk prices have almost doubled as well. They basics that we need--have skyrocketed.
I think this information about food prices (that is not being discussed) is a key reason for economic hardship. Our wages are stagnating, and we're making less--but what we have to fork over for food and gas has risen so much! It's like getting another paycut. A 30 percent pay cut!
Our grocery budget has nearly doubled in the past 8 years, and so has our gas budget. This affects everyone, but it is hidden. I think it's a tragedy that many people wander around, wondering why they have less money. The cost of food is affecting everyone--and you're right, it's only going to get worse.
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