Chart of the Day: Food Is Cheap!

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Whenever you point out that inflation is pretty low these days, you can expect a flurry of responses along the lines of, “Have you seen the price of eggs lately?!?” As it happens, yes, I have. More to the point, the US government tracks food inflation, and it’s really low right now. As in negative. Food bought in stores (as opposed to restaurant food) is 2.2 percent cheaper than it was a year ago. This means the average family is spending about $150 less on groceries than they did in 2015. Happy Holidays!

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

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