The iconic film “Home Alone,” released in 1990, has become a touchstone for measuring the impact of inflation over the past three decades. In a memorable scene, the main character Kevin McCallister, played by Macaulay Culkin, spends $19.83 on groceries. Recent experiments replicating Kevin’s grocery shopping list have revealed a significant increase in prices, highlighting the effects of current economic inflation.
Last year, TikTok user Rochelle Chalmers found that buying the same items at Kroger cost her $44.40. More recently, Nick Smith of NewsNation conducted a similar experiment in Chicago at Happy Foods, where the total came to $72.28 after tax. This price hike represents a 248% increase since the movie’s release.
Economists predict that food prices could rise further as the holiday season approaches. According to the Consumer Price Index, all food prices rose by 0.7% from August to September 2023, with a 11.2% increase compared to September 2021. The United States Department of Agriculture also forecasts a 3-4% increase in food prices for the year.
This surge in prices, often referred to as “Bidenflation,” has significantly impacted family budgets. The average U.S. household now needs an additional $11,434 annually to maintain the same standard of living as before this period of high inflation. The persistent inflation challenges the notion that the Federal Reserve’s rate hikes are effectively curbing it, as evidenced by a 0.4% rise in the cost of goods and services for two consecutive months in September.
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