Here is how much more everything costs since the pandemic began

You wouldn’t imagine it. Prices across the economy have increased since the pandemic began. Whether it’s gas at the pump, concert tickets, or groceries.

Inflation began to rise sharply in 2021, reaching 9.1% in June 2022, the highest level in 40 years.

Economists attribute the rise in prices to a combination of factors, including stimulus checks handed out early in the pandemic, high demand and low supply, the war between Russia and Ukraine, and, of course, the concept of “greedflation.” thinking. The idea that companies are using inflation as an excuse to raise prices even more.

We find that experts strongly disagree on some of these factors.

To control inflation, the Federal Reserve adopted the following strategy: aggressively raise interest rates Implemented 11 times in a row from early 2022 to this summer (affected by rising costs for certain items, such as new monthly mortgages).

Inflation is starting to ease and central banks have suspended interest rates, but Federal Reserve Chairman Jerome Powell recently signaled that he believes the situation is not yet clear.

“Inflation remains too high, and a few months of positive statistics is just the beginning we need to build confidence that inflation is on a sustained decline toward our goal,” Powell said. This was stated in a lecture at the New York Economic Club.

We looked at how much the prices of some products have changed between 2019 and now.

1 gallon of gasoline

sauce: Bureau of Labor Statistics

The price of a gallon of gasoline in September was about 52% higher than during the same period in 2019. Supply and demand issues drove up gasoline prices during the pandemic, but Russia’s invasion of Ukraine in 2022 made matters worse. banned all energy imports From Russia, from the European Union Partial ban on oil imports. In June 2022, the price of gasoline exceeded $5 per gallon. It has fluctuated since then, but there is some good news that points to a decline in prices. While oil demand has declined around the world, U.S. production has been strong this year.according to AAA gasoline price, Regular gallons are down 7 cents compared to the same time a week ago.

new car

Source: Kelley Blue Book; 2019 and 2023 report

Car prices have risen to record highs during the pandemic for the same reason that many goods have risen in price: supply chain issues. A global chip shortage has forced car companies to cut production. Prices have started to fall since last year, but the average price of a new car this September was about $48,000, $10,000 more than in September 2019. According to an S&P Global Mobility report released in June, auto financiers are watching Car loan delinquency increases As consumers face inflation and rising interest rates,

monthly mortgage payment

sauce: lending tree

It’s a tough housing market. The average monthly mortgage payment increased by nearly $300 in the third quarter of this year compared to the third quarter of 2019, according to data provided to the marketplace by LendingTree.Mortgage rates are at their highest level in 20 years, with the average 30-year fixed rate Stays at 7.63% This is more than double the interest rate at this time in 2019. To combat inflation, the Federal Reserve has raised interest rates almost 12 times from 2022 to 2023, which has impacted the highest mortgage rates so far. I’ve watched it. Prospective buyers not only have to deal with rising mortgage rates, but also soaring home prices, with some even having difficulty qualifying for a mortgage.Economic tightening means more adults living in multigenerational households quadrupled between 1971 and 2021, According to the Pew Research Center.

annual child support

sauce: Childcare with America in mind

Treasury Secretary Janet Yellen called out the child care industry. “Broken Market” Annual child care costs increased by more than $1,100 from 2019 to 2022, according to the most recent data available from the organization Child Care Aware of America. Childcare workers are paid more (although they are still paid less compared to other service jobs). Providers now have to pay more The Wall Street Journal reported on goods and services such as food and utilities. The federal government has provided more than $24 billion in funding to child care providers during the pandemic, but that funding expired last month. The marketplace reported that this means prices are likely to rise further and resources become even more scarce. Some women are excluded from the labor force because they cannot afford childcare.

egg carton

sauce: Bureau of Labor Statistics

Since 2019, the price of a carton of 12 Grade A eggs has increased by 50%. Last year, egg prices began to rise, at one point doubling, due in part to the avian influenza that infected more than 57 million chickens in the United States. I felt a pinch, The shortage became so severe that some people even tried it Smuggle goods from Mexico. Egg prices have fallen from a record high of $4.82 in January, giving shoppers much-needed relief, but they are still above pre-pandemic levels as of September.

1 pint of beer

sauce: Bureau of Labor Statistics

The average cost of a 16-ounce malt beverage at a retail store was 30 cents more expensive this September than it was in 2019. CNBC beer company reported The alcohol market is being taken over by distilled spirits. Faced with increased packaging and transportation costs, they were forced to raise prices. The price of beer purchased outside of breweries and retail stores has also increased, causing sales to decline. Historic Anchor Brewing Company, America’s first craft brewery, announced it will close its doors after 127 years over the summer.

starbucks pumpkin spice latte

source: thrilling, Starbucks app display price

The famous PSL is back at Starbucks, but at a higher price. Costs vary by location, but as of 2019, Tall PSL prices ranged from $4.45 to $5.45, with the average being $4.95, according to Thrillist. This year, we looked at prices at more than a dozen U.S. stores listed on the Starbucks app and found that these stores cost between $5.25 and $6.25 for a PSL. The average is $5.75. Vox’s Emily Stewart takes a deep dive coffee economics And we found that in addition to rising prices across the board, coffee businesses pay the most labor costs, and labor costs are getting higher and higher. Mr Stewart said workers were demanding higher wages, while lower-wage workers were experiencing “significant wage increases”. While these are all positive things, Stewart pointed out that it means the company is passing on higher costs to you. In the case of Starbucks in particular, the company is raising wages and spending money on store renovations to fight unionization.

McDonald’s Big Mac

sauce: The Economist’s Big Mac Index

It’s called Burgernomics. The price of a Big Mac this summer is up 87 cents from the summer of 2019, according to The Economist’s Big Mac Index, which measures burger prices around the world. The purpose of an index is to show how different currencies perform against each other. According to the Bureau of Labor Statistics, fast food prices are rising across the board in the United States.Bureau Limited Service Meals Index In September, it rose 0.4% from the previous month. But that hasn’t deterred customers, Marketplace reported earlier this year, even though soaring labor and material costs have forced chain stores to raise prices. Grocery stores and traditional restaurants are also seeing higher prices, and wealthy customers are turning to fast-food restaurants to get their meals done.

Monthly streaming fees (Netflix, Prime Video, Disney+)

source: Amazon, Netflix, disney, CNBC, variety

The average person is about 3 streaming services. If you have 3 subscriptions most popular services (Netflix, Prime Video, Disney+), and if you’re paying for the cheaper ad-free subscription, you’ll see a combined price increase of about $10 a month since 2019. Streamers are having a hard time attracting more customers because the market is oversaturated. Many people in the US have a Prime membership that includes access to Prime Video, but if you’re paying for Prime Video itself, it costs $8.99. This was also the cost in 2019. However, the standard price for Netflix has gone from $12.99 to $15.49 per month for a subscription (without ads), and the price for a Disney+ subscription without ads is now $15.49 per month. $6.99 to $13.99 per month.

Concert tickets (resale)

sauce: seat geek

Live entertainment has become more expensive. The average resale price of concert tickets on SeatGeek has nearly doubled over the past four years. And these are just overall averages. As mega-pop star Taylor Swift embarks on her “Ellas” tour, the average resale price of her concerts has reached $1,611, according to a representative from SeatGeek.

“We’ve seen how much people miss live music in the wake of the pandemic, and the exploding demand for tickets confirms that,” said Oliver Marvin, director of business operations at SeatGeek, in an email. said in a statement. “Since 2019, consumer spending has shifted towards experiences rather than possessions, and artists have become better at promoting themselves globally through their online presence.

Ticket prices for some concerts are already high before they hit the resale market.atlantic reported that several possible factors contribute Pent-up demand post-quarantine, the cost of running big shows (which are rising due to inflation), artists deciding to raise prices after seeing what their peers are doing, and a shift from the merged Ticketmaster. This led to higher prices, including higher fees. Performed with Live Nation in 2010. control most of the market For ticket sales and live events.