Millions Of American Households Face $3,500 Additional Expenses Due to Inflation

[McRocket]

'Surging inflation will cost millions of Americans more than $3,000 in additional expenses this year, according to a Penn Wharton University of Pennsylvania Budget Model (PWBM) analysis published on Wednesday.

PWBM, a nonpartisan research-based initiative, estimates that the historic levels of inflation will require the average U.S. household to spend around $3,500 more in 2021 to achieve the same level of consumption of goods and services as in 2019 or 2020.

Moreover, PWBM estimates that lower-income households spend more of their budget on goods and services that have been more impacted by inflation, and will have to spend roughly 7 percent more on such goods and services, while higher-income households will have to spend about 6 percent more.'

https://www.theepochtimes.com/surgin...aign=ZeroHedge

Here is the study the article is based on:

https://budgetmodel.wharton.upenn.ed...nflation-costs


I am guessing the Biden lovers on this board will claim this is either 'not Biden's fault' and/or is actually 'good news'.

Though quite how they will do either remains to be seen.

[Matt Dillon]

Seems legit. Nothing I can do about it at this point.

Shop smart, that's about it.

[Hawkeye10]

'Surging inflation will cost millions of Americans more than $3,000 in additional expenses this year, according to a Penn Wharton University of Pennsylvania Budget Model (PWBM) analysis published on Wednesday.

PWBM, a nonpartisan research-based initiative, estimates that the historic levels of inflation will require the average U.S. household to spend around $3,500 more in 2021 to achieve the same level of consumption of goods and services as in 2019 or 2020.

Moreover, PWBM estimates that lower-income households spend more of their budget on goods and services that have been more impacted by inflation, and will have to spend roughly 7 percent more on such goods and services, while higher-income households will have to spend about 6 percent more.'

https://www.theepochtimes.com/surgin...aign=ZeroHedge

Here is the study the article is based on:

https://budgetmodel.wharton.upenn.ed...nflation-costs


I am guessing the Biden lovers on this board will claim this is either 'not Biden's fault' and/or is actually 'good news'.

Though quite how they will do either remains to be seen.

Lots of people are paying a lot more, sometimes like $1000 a month more, to rent or buy a place to live.

Cars are up what 30% y-o-y, car repair is up something like 20%.

I suspect that this number in the OP is low ball.

[Hawkeye10]

If you call someone up to do anything in your house you will almost certainly find the prices up a lot, if you can find someone to take the job, working is discouraged by the Revolution.

Do you need a new roof?

Then bend over.

[T. A. Gardner]

I think it totally sucks that I had to start taking my 401K and give myself a $1250 a month raise to offset Joke Biden's and the Communist Democrat front's asinine political stupidity. November 2022 can't come soon enough.

[Hawkeye10]

I think it totally sucks that I had to start taking my 401K and give myself a $1250 a month raise to offset Joke Biden's and the Communist Democrat front's asinine political stupidity. November 2022 can't come soon enough.

Please see my sig.

[T. A. Gardner]

If you call someone up to do anything in your house you will almost certainly find the prices up a lot, if you can find someone to take the job, working is discouraged by the Revolution.

Do you need a new roof?

Then bend over.

I'm not charging the GC's I do electrical work for anywhere close to market prices and I upped my modest hourly rates from $25 to $30 and doubled my trip charges to pay for gasoline.

I'm in the middle of redoing the electrical on a small apartment complex and I'm stunned by the rent the owners charge on the remodeled apartments. These were taken down to the studs and redone. #8, a two-bedroom that I rewired is going now for $1800 a month. I just finished #3 (the whole complex has like 22 units), a one bedroom and think it'll be over $1000 a month when it rents. I'm waiting for the drywallers and painters to finish before I come back in and do the final putting in all the devices and fixtures.