The cost of grocery items has climbed 2.4% overall in the last year, but the jump in retail meat prices has been much more dramatic. Compared to April 2020, pork prices are up 11%, bacon prices are up 16.3%, and beef prices are up 4.8%. Poultry prices are 11% higher than last year. The price for wings, which hit a record $2.92 per pound is 180% higher than they were in early 2020.
After hitting historic lows in 2020, the average price of a gallon of gasoline in the U.S. has risen above $3 for the first time since 2014, according to the AAA.
House price bids are coming in above the asking price, sight unseen. The average house is up 33.9% on a year-on-year basis.
The price for lumber has soared by 377% in the last year, adding as much as $36,000 to the price of a newly built home.
Retail prices for electronics have recently started to climb, too, led by the price of big screen TVs, which are 30% more expensive than they were last year.
Used cars and truck prices increased by 10% just last month, and are up 21% over the last 12 months.
The price of renting a car was up 16.2% last month.
It is only the beginning folks, there is much more to come, especially if the Federal Reserve continues its mad money printing.