US consumers remain unimpressed with this progress, however, because they remember what they were paying for things pre-pandemic. Used car prices are 34% higher, food prices are 26% higher and rent prices are 22% higher than in January 2020, according to our calculations using PCE data.
While these are some of the more extreme examples of recent price increases, the average basket of goods and services that most Americans buy in any given month is 17% more expensive than four years ago.
Tbf these are national averages and rent increases are highly localized.
My rent gone up 11% since 2019. Which is good, because I already can’t afford medical care.
My sister’s rent has gone up almost exactly 50% in the same time period.