Inflation has eroded around a third of consumer buying power since 2019 when shoppers could buy 32 items on a $100 budget. New figures show that $100 today gets you around 20 items
In 2019, $100 would have bought shoppers a healthy 32-item bag complete with milk, eggs, cereal, dish soap and more. Today, however, customers would have to take at least 10 of those products out of their basket to maintain the same budget
Nielsen’s data looked at the average unit price for products in the 52 weeks before March 2024 compared with prices in the 52 weeks before March 2020 and laid bare just how stretched household finances have become in the face of inflation
The products that have seen the biggest price rises include laundry detergent which has increased by $2.83 to $10.66, toilet paper has increased $2.67 to $9.75 while eggs were up by $1.48 to $3.84, and the cost of peanut butter has also risen $1.04 with jam shooting up $1.12
The data comes after a host of budget retailers have been forced to raise the prices on some of their products. Even value-store Dollar Tree said it will increase the price cap at its stores where everything was once $1 or less, to now up to $7
Rellevate’s PayCard featuring Pay-Any Day Helps your Employees Save $1,200/Year
Rellevate’s PayCard featuring Pay Any-Day helps cash-strapped employees by giving them the ability to receive their wages (at zero cost) whenever they need it most, thereby allowing them better cash controls, money management and savings tools
