The Thanksgiving Inflation Was Way Higher Than What the Government Says

According to the Bureau of Labor Statistics prices for turkey were 7.2% higher in October 2023 than in October 2023. Recently, the Biden administration attempted to claim inflation has reduced. This is misleading at best. The fact is that Turkey's inflation rate of inflation was less than last year. This does not mean prices went down. The price of turkey only increased slower than the previous year. The price of turkey has increased 46% over the past 5 years years according to the Bureau of Labor Statistics. Most of the increase was in the past 3 years. The Consumer Price Index states inflation has increased about 18% since Biden took office. When you look at items most consumers purchase, the inflation numbers over the past 5 years (with most of the increase in the past 3 years) are much higher: 1. Gravies: 32% 2. Biscuits: 30% 3. Pies: 30% 4. Potatoes: 24% Source: BLS Consumer Prices for Turkeys and other Thanksgiving Favorites Other groceries including fish, eggs, meat, and poultry are all about 30% more expensive that 5 years ago, according to the Bureau of Labor Statistics. The typical American household needs about $14,000 additional income than they needed to pay for the same living expenses in January 2021. As inflation continues to increase prices, more budgets will be squeezed. There are three options to keep up with inflation: 1. Increase Income: most Americans have not been able to increase their income to this extent 2. Reduce Expenses: consumer spending is reducing due to higher prices, this typically leads to recessions 3. Make Your Money Go Farther: earning cash flow on money you spend is a powerful financial tool most people do not employ Your Personal Bank allows you to earn cash flow on money you spent every year for the rest of your life! This can help you offset inflation. Interest rate sensitive assets will thrive while asset values on most stocks and real estate will suffer. Your Personal Bank dividends are interest rate sensitive and will thrive in a higher interest rate environment. Dividends are likely to increase for the next several years due to higher interest rates. Your Personal Bank funds grow income tax-free and you can access tax-free. This shields you from likely higher future tax rates. You can grow your money safely, with guarantees, tax-free, and highly liquid. Please contact me: YourPersonalBank.com ferenc@yourpersonalbank.com 866-268-4422