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From steak to rent to car insurance, years of inflation have left nearly every spending category more expensive than before the pandemic
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According to The New York Times, citing Bureau of Labor Statistics data, consumer prices have climbed more than 30% since early 2019 — a cumulative surge roughly two and a half times greater than the total price growth recorded across the entire 2012–2019 period.
The headline inflation rate has eased substantially from its 2022 high of 9%, reaching 3.4% as of July, yet the sheer weight of compounded price increases over the past several years continues to squeeze household budgets. Inflation came close to the Federal Reserve's 2% target in April 2025, but subsequently accelerated — first after President Trump introduced sweeping tariffs that raised the cost of imported goods, and again when the outbreak of war with Iran sent energy prices sharply higher.
