A recent Realclearwire.com article noted that since 2021, the cumulative effect of persistent inflation has reduced Americans’ purchasing power by 19%. Since 2021, grocery prices have increased by 21%, gasoline prices have increased by 47%, shelter costs have increased by 20%, and electricity costs have increased by 30%. Wholesale prices rose at the fastest rate in April 2024 since April 2023, signaling persistent pressure on retail prices for months to come. When I read the data, I think of energy prices rolling through everything, adding to consumer prices across the board. For example, diesel fuel prices roll through the food…
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