The price of a $15 pizza goes up about 35 cents a year in inflation alone.
In itself, this isn't an earth shattering revelation, that Papa John's is increasing pizza prices by 11-14 cents.
However, it is reflective, in my opinion, of what we can expect across the board from most businesses.
And with commodity and food prices expected to continually increase, in part driven by the corn shortage which, whether you know it or not, is an ingredient in most foods nowadays, it's only going to get worse.
And on top of all that, with very little flow through from food price increases expected to hit CPI, people who have salaries tied to CPI aren't receiving greater pay to offset the increasing food prices and are therefore losing real purchasing power.
The middle class is about to feel a major, major crunch, of which the effects of ACA will intensify. This decreased real income also will continue to hurt the real estate market. We are nowhere near recovery. If anything, things should get worse from here on out, particularly given another four years of Obama whose policies seemingly give no consideration to the increased tightening the middle class is feeling.
This post was edited on 8/12 at 10:30 am