America’s NPR has been tracking prices in one Walmart supermarket in the state of Georgia for a number of years. Here, they write about what it has taught them about the economy and global trade.
Since 2019, when they last checked in, prices are up an average of 23%. The effects of inflation are being felt across categories. However, not equally. Quaker Old Fashioned Oats is up 73% in that time period, rising far quicker than inflation because severe droughts have led to the worst oat harvest in North America in over a century.
Meanwhile improvements in technology continues to be a strong, deflationary force with a television getting 14% cheaper in that time.
NPR didn’t just observe changing prices. Changing sizes (aka shrinkflation) was also a standout. Consumer goods companies around the world have chosen to reduce packaging size and keep prices steady as an alternative to price increases.
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