Consumers Squeezed by Food and Gas Prices

March 21, 2008 RSS Feed Print

If it feels that you have less money left over for luxuries, here's why: Prices for groceries, gasoline, healthcare, and other staples have risen 9.2 percent since 2006, according to the Washington Post. During the same period, income for nonmanagerial workers has risen only 5 percent. The one sliver of good news? Prices for what might be considered indulgences, such as restaurant meals, alcohol, new cars, furniture, and clothing, have gone up by 2.4 percent. So if you do have any money remaining after feeding yourself and your gas tank, a dinner out might be affordable.

Tags:
personal finance,
prices,
gas prices

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Sure prices are surging for staples and the basic needed comodities, but I think we have not yet begun to sacrifice...I don't think we even know what real sacrifice is...we still live much the same as we have become accustomed to living.

Wendy of AK 3:51PM May 16, 2008

Alpha Consumer

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, is the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back. Send her your personal finance questions.


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