against
The Federal Reserve will announce that it has won the fight against inflation at some point in 2024.
Recession-related worries will fade. The announcement is expected to raise stock values. It is expected that homebuyers will benefit from lower mortgage rates.
Nevertheless, any supermarket consumer paying attention at the register will inquire, “What are they talking about?”
Inflation driven by the pandemic wrecked many household finances. One particularly unfavorable outcome has been high food expenses.
For example, my handy chart shows that the average regional Consumer Price Index for Los Angeles-Orange County, San Francisco, San Diego, and the Inland Empire is 19% higher in California than it was in 2019.
No matter where you keep your cupboard and refrigerator, costs have been notably skyrocketing. Based on my CPI averages, the cost of groceries in California has increased by 27% over the past four years.
Unfortunately, food is a cost that is difficult to budget for. CPI arithmetic indicates that it represents 13% of household consumption. Furthermore, it cannot be postponed like, say, furniture, clothes, or a car.