Inflation has been a constant cause for concern from practically the moment life returned to some semblance of pre-pandemic normalcy.
And it’s stirred up plenty of debate too, from those who think it’s a normal economic force to those who blame corporate price-gouging—and even those who claim they haven’t noticed much change at all.
But if a TikToker’s latest video is to believed, that debate can be laid to rest.
Her Walmart groceries cost 50% less two years ago.
Creator @amywaytosave, whose content focuses on money-saving tips, did an experiment, going to Walmart and buy the same groceries three times in two years to see if prices change.
What she found is a pretty shocking indictment of what’s going on in our economy where inflation and grocery prices are concerned.
Amy found that the same groceries from 2020 cost 50% more in 2023—even at discount retailer Walmart.
In all, Amy purchased the same grocery store order three times—once in late 2020, again in 2022 and then last week in 2023.
Her purchases were simple—basics like rice and beans, a jug of milk, eggs, bananas and chorizo, enough to make “a week’s worth of meals for one person.”
She got all that plus a couple other items like corn meal, frozen vegetables and potatoes for $10.09 in late 2020—and before you say that’s impossible, she has the receipt to prove it!
After hearing all the talk in early 2022 about inflation on groceries, Amy went back to Walmart and purchased the same items. But this time, it totaled $11.13.
That’s of course not that big of a jump—roughly 10%.
But if you feel like that seems really low nowadays, even for Walmart—and especially given the national shortage of eggs due to the 2022 bird flu outbreak—well, you’re on to something.
Amy went back a few days ago, and those same items in 2023? $15.10—a whopping 50% increase from late 2020.
And that’s just for someone buying groceries for just themselves. Imagine how much more expensive it is for parents trying to buy groceries for their kids.
The inflated cost is likely also a result of price-gouging.
The inflation we’ve experienced since returning to our pre-pandemic lifestyles is partly caused by the pandemic itself—because it wasn’t just most of us workers who stayed home for months on end.
Food producers stayed home too, as did automakers, electronics manufacturers and all sorts of other industries, as well as the shipper who move it all around the world.
So when normalcy returned, and consumer demand with it, there was little to no supply of goods, sending prices on just about everything skyrocketing.
But curiously, corporations have been posting record profits in 2021 and 2022—which doesn’t quite add up. If the cost of making things is up just like the price to buy them, profits should be roughly level, right?
But the opposite has happened—in a big way.
Companies like Coca-Cola and PepsiCo—who make myriad food products beyond just soda—both saw profts shoot up by 17% and 14% respectively in 2022, while restaurant chains like Chipotle’s grew 26%.
And remember that whole gasoline debacle last year?
After President Biden threatened oil companies with a so-called windfall tax to offset what he called “war profiteering,” gas prices fell to the lowest they’d been in a year.
People on TikTok feel corporate profiteering was to blame for the increase.
As one commenter named Mary put it, “meanwhile their profits have never been higher! Wonder why.”
And she was certainly not alone. Scores of people took to the comments on Amy’s video to echo that sentiment. One wrote, “it’s not inflation anymore it’s price gouging.”
“I think it’s important to note that this isn’t just inflation,” another added, “this is corporations intentionally raising prices and posting record profits.”
Others vented their frustration over people denying inflation was a problem. One commenter wrote, “I’m so sick of people saying inflation isn’t the issue, just budget better. Like it is a huge difference.”
Thankfully, inflation overall is now on a downward trend, but that good news also comes with bad news—grocery and restaurant prices are still rising.
If you’re looking to take up a new hobby in 2023, might we suggest farming your own produce?
John Sundholm is a news and entertainment writer who covers pop culture, social justice and human interest topics.
Read More:Woman’s Walmart Groceries Cost 50% More After 2 Years
2023-01-22 17:18:27
