Axios posted an interesting chart yesterday. The chart took at look at the rate of inflation for groceries, which was high and is now low, and compared it to the cumulative inflation of groceries since Biden took office in 2021.
The inflation rate for groceries is really low these days, with prices rising just 1.1% over the last year.
But since January 2021, prices are up nearly 21%.
— Axios (@axios) May 28, 2024
The point here is that while grocery inflation is pretty low compared to last year, prices are still up significantly compared to what they were a few years ago. Axios argues this is the metric that is more relevant as people think about whether they want to reelect Joe Biden.
Also, this same thing applies to the cost of going out to a restaurant.
Dining out is worse — prices rose 4.1% over the last year, far faster than costs at the grocery store or…
