If you’ve recently spent time on planet Earth, chances are that you’re no stranger to the soaring prices of, well, just about anything. These spikes are topping our expectations and pushing the already soaring U.S. inflation to extreme levels. According to the Labor Department, the May consumer price index (CPI), which measures cost changes in food, gas, housing, and many other goods and services, rose 8.6 percent over the last 12 months. That’s the highest it’s been since 1981. And we, the general folk, are definitely feeling the pressure.
While inflation is biting hard, our paychecks don’t go as far as they used to. It begins to feel almost impossible to afford to be a person these days, and people are having a hard time making ends meet. Looking for a way to vent, they wasted no time sharing their discoveries with everyone online.
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We at Bored Panda have scoured the web and picked out some of the most painfully alarming examples of how inflation has been going wild. Continue scrolling, upvote the pictures that deeply resonated with your inner frustrations, and be sure to weigh in on the topic in the comments! If you’re in the mood for some similar price-gouging madness, check out our recent piece about shrinkflation right over here.
#1 Prices Only Go Up. No Down, Only Up
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#2 Inflation Has Never Been “Transitory” For Working People Especially This Hell Of A Year
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#3 A Very Helpful Graph
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Inflation has been driving the prices of grocery staples, home goods, beauty products, gas, services, and pretty much everywhere people spend their money. It is making more and more Americans change their shopping habits. And the people affected by this most? Low-income families that are feeling the income and wealth inequality deepen to alarming levels.
According to Rachel Siegel and Andrew Van Dam, reporters at The Washington Post, price hikes are particularly devastating to households with already tight budgets. The main reason for this is that the majority of their expenses go to necessary everyday items such as food, energy, and housing — things that have seen some of the largest increases over the past year.
“Of the 10 categories with the highest levels of pandemic inflation analyzed by The Washington Post, lower earners spent a greater share of their total spending on most of them, from natural gas to beef,” they wrote, adding that the highest earners outspent the lowest on cars and furniture.
#4 Ben And Jerry’s Is So Expensive Where I Live That They Have To Put Security Devices On Each Pint
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#6 He Was
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Wealthier Americans won’t feel as affected by inflation because of their spending habits: “They spend more of their budget on retirement accounts, mortgages and investments, and less on the necessities, such as energy or groceries, that are squeezing budgets around the country.” Moreover, they have stronger protections shielding them against increasing prices. They already own homes, have substantial retirement savings, and their investments will probably outpace inflation in the long run.
#7 A One Month Supply Of My Son’s New Cystic Fibrosis Medicine. At $24,000, It’s The Most Expensive Thing I’ve Ever Held In One Hand
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#8 You Peel The Sticker Off To See The Original Price Of $1.99
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#9 Walmart Is Getting Real Honest With Inflation These Days
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So, unfortunately, lower-income workers usually feel only the negative side of inflation. “Their rent goes up. Their heating oil prices go up. Their grocery bills go up. And there’s no room for higher prices in their already stretched budgets. Plus, with stimulus benefits and child-tax credit payments long gone, many have exhausted their financial cushions.”
Xavier Jaravel, a London School of Economics professor stated that for low-income Americans, a small change in disposable income is very difficult to cope with. “Every bit of additional inflation just reduces purchasing power,” he added. “If you have a large income, which often goes with the fact that you’re saving a lot, then losing some of your purchasing power is not a big cost.”
#10 I’m An Art Teacher – Old Tube Price vs. New
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#11 I Really Need To Ration My Breathing
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#12 This Play Money Costs 5x Real Money
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Fear of losing our hard-earned savings makes us want to stockpile goods and let emotions overtake our decisions. And as it turns out, doing so can only make matters worse. As Michael Finke, a professor of wealth management at The American College of Financial Services, told NBC News, “People tend to have a rational response to gains but an emotional response to loss.”
He explained that loss is processed in the limbic, otherwise known as the emotional part of our brain, and gains register in the prefrontal cortex, where cognitive behavior is processed.
#13 I Just Want To Give My Students Some Snacks Without Going Broke
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#14 Some Interesting Boxing Day Prices At H&M Today
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#15 The Picture Shows 8 Mozzarella Sticks, I Received 3. It Cost $12
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“When inflation is bad and people expect it to continue or get worse, they generally tend to not save money and try to buy durable goods before the price rises,” George Loewenstein, professor of economics and psychology at Carnegie Mellon University, added. He continued by explaining that people are rushing to get products that are not frequently replaced, “to the extent that doing that increases demand relative to supply — that can exacerbate inflation” and can become “a self-reinforcing cycle.”
#16 Inflation Has Been Hitting Everything
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#17 Feels Like False Advertising. Fees And Taxes Are More Than The Room Rate. Airbnb
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#18 A Grocery Store In Germany Has Started Importing Arizona Ice Tea Cans And Covering Up The 99¢ With Mini American Flag Stickers
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While we patiently wait for inflation to level off, there are a few things to consider to make our lives a tad easier. Jay Zigmont, a certified financial planner, explained that “you may have been able to just make it before without a budget, but with inflation, a budget becomes a must.” And while the first month will be rough, and you may get things wrong at first, he suggested to keep on trying.
According to him, it takes three to six months to make budgeting part of your life, and he advised budgeting based on “musts, shoulds, coulds, and won’ts.” Musts include things we can’t live without — housing, utilities, insurance, and transportation. After you take care of your musts, you can move on to shoulds, things like debt, investing and saving. “If you are in debt,” Zigmont added, “you may not have money left over for your coulds.”
#19 How Are People Even Existing?
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#20 Inflation Measured In Costco Beef Rib Units
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#21 I’ve Been Seeing A Lot Of Those “What $x Can Get You In 2022” Posts. Just Wanted To Remind Those Of You Who Have Access To Take Advantage Of The Produce Section. $68
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“In a time where items cost more and budgets are stretched, the importance of being intentional with our purchases and comparing items or focusing on relative price to stay within your budget becomes even more important,” Kendall Clayborne, a certified financial planner, added that practicing intentional spending will go a long way.
#22 You Know Inflation Is Out Of Control When Chicken Wings Are “Market Price”
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#23 $100 Worth Of Groceries
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#24 Guys Seriously What Is Going On
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Of course, think about asking for a raise. “In today’s job market, employers are eager to retain employees, and keeping them happy is the best way to do that,” Bert Bean, the CEO of national staffing company Insight Global, explained. And remember, with inflation reaching record heights, not getting a raise is nearly equivalent to receiving a pay cut. So if your employer is not willing to offer a pay bump, consider making a career switch or picking up a side hustle whenever you have the time.
#25 Baby Milk Locked In Boxes With Prices Going Up Weekly. Very Depressing
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#26 That’s A Bloody Outrage, It Is
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#27 Worked Out To Be $46.90
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#28 I Know Things Are Getting Smaller But Really?
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#29 Fuel Prices In Finland
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#30 Old Iranian 100 Rial Bill Now Worthless vs. 1 Million Rial Bill Now Worth About $3.33. Inflation Is Crazy
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#31 Find The Difference. Hint: They Were The Same Price But Purchased A Couple Of Weeks Apart
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#32 This Free Air Costs $2.00
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#33 Is The Queen Of England In Town Or Something?
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#34 The Fees, Taxes And Tip Is Almost Equal To The Cost Of The Food Ordered
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#35 I’m Ok With Living With Covid. I’m Not Too Sure About Living With Inflation And Scurvy
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#36 Time To Get Chickens? $14 For Eggs. Last Week There Was None Now The Inflation Hits
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#37 No Chips Because Inflation. Sign At My Local Restaurant
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#38 Gillette Now Sells 4 Packs Of Blades Instead Of 5 Packs. Still The Same Price And Even The Same Packaging
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#39 Quaker Oatmeal Advertises 35% Less Sugar, But In Reality, They’re Just Selling 35% Smaller Portions But For The Same Price
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#40 Inflation In One Picture. Prices On All Food Have Been Going Parabolic. Half A Dozen Bagels Was 3.29 Now It’s 5.49! Lower And Middle Class Americans Cannot Survive This
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#41 Clever Example Of Inflation
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#42 How Do These Non-Alcoholic Drinks Justify Their Premium Price? This Was Taken At Woolies
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#43 Netflix’s Annual Revenue In 2021 Was Almost $30 Billion. They Celebrate This By Raising Prices Yet Again
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#44 Honest Inflation
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#45 My Mate Showed Me The Menu Pricing For A Fancy Japanese Restaurant And The Footnote Says
Service charge of 5% on weekdays & Saturdays, 10% on Sundays, 15% on public holidays applies
Doesn’t this violates Consumer Affairs’ “single price requirement”? Since the price you see is not the price you pay?
Why wouldn’t the restaurant just increase the menu price by 5% overall and charge 5% Sunday and 10% on public holidays?
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#46 It Was $4.39. Now It’s $6.39. It’s Not Inflation, It’s Price Gouging
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#47 Prices In Los Angeles. How Much Is Everybody Else Paying?
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#48 Look At That Price
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#49 Just Charge What It Costs. You’re Not Ticketmaster
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#50 I Got Charged A 3% “Living Wage” Fee So That Employees Earn A Living Wage Instead Of The Bar Paying Them
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