Inflation on all consumer goods rose to a 40-YEAR HIGH of 7%.
Friend,
Our dollars are simply not going as far as they did last year. The cost of basic goods like meat, milk, and eggs continue to increase.
What’s worse, shortages of goods are plaguing grocers and retailers nationwide. Just look at a few of the photos of empty shelves at my local grocery store.
The White House has touted that wages are rising but those are nominal wages. Real wages, or inflation-adjusted pay, actually fell 2.4% from last year. No matter how much pay is increasing for the American worker, inflation is outpacing it… making it difficult for families to keep up.
The White House doesn’t have a good answer as to what to do. It declared victory in fixing supply-chain issues in December. However, shortages are back as the Omicron variant is hitting our labor force and forcing sick employees to remain at home.