speaking of coffee
CPI is coming out Wednesday May 15. There was significant increase of 28% in coffee prices from March - May, 2024 so instead of reporting it, they remove it from the index. When prices creep lower they'll add it back in. https://www.bls.gov/cpi/additional-resources/discontinued-series.htm
Actual U.S. Inflation Tops 20% Under Biden, Latest CPI Data Shows
The purchasing power of a dollar in 2024 is only about 82 percent of a dollar in 2020
PUBLISHED: MAY 15, 2024
Since President Joe Biden was sworn into office, U.S. inflation has reached the grim milestone of 20 percent, according to Consumer Price Index (CPI) data being ignored by major publications, government officials, and analysts. (For perspective, the inflation rate was just 1.4 percent when Biden took office and prices had only risen about 6.7 percent during the four years before he assumed the presidency).
Grocery prices have risen by more than 30 percent.
Gas prices reached historic highs in 2022, and have since fallen slightly. Compared to April 2020, drivers are still paying roughly double to fill up their tanks.
Costs for housing, medical care, food, clothing, and transportation have all soared over the past three-and-a-half years.
According to the BLS, the purchasing power of a dollar in 2024 is only about 82 percent of the purchasing power of a dollar in 2020. Americans now need $1,222 for what would have cost just $1,000 four years ago.
More broadly, Americans now need an extra $11,434 to maintain the standard of living they enjoyed in 2021
