{"id":1521035,"date":"2022-06-17T15:49:08","date_gmt":"2022-06-17T19:49:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1521035"},"modified":"2022-06-17T15:49:10","modified_gmt":"2022-06-17T19:49:10","slug":"inflation-dogs-americans-ahead-of-national-splurge-day","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-dogs-americans-ahead-of-national-splurge-day\/","title":{"rendered":"Inflation Dogs Americans Ahead of National Splurge Day"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finflation-dogs-americans-ahead-of-national-splurge-day%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1521035&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p>June 18 is National Splurge Day, a <a href=\"https:\/\/twitter.com\/hashtag\/NationalSplurgeDay?src=hashtag_click\" target=\"_blank\" rel=\"noopener\">holiday<\/a> meant for breaking up budgeting routines and enjoying a little something extra. This year, one thing is certain: No matter the splurge, it\u2019ll be more expensive.<\/p>\n<p>Inflation under President Joe Biden reached a record-high 8.6 percent in May, with the USDA <a href=\"https:\/\/www.ers.usda.gov\/data-products\/food-price-outlook\/\" target=\"_blank\" rel=\"noopener\">forecasting<\/a> food price increases as high as 20.5 percent. Consumers looking to indulge in a sugary sweet can expect to pay around 6 percent more than last year. Baked good prices are up at least a percent more. Steak and lobster is running 6 to 8 percent more.<\/p>\n<p>The White House has maintained that inflation is due to pandemic-related supply chain issues. In a speech last week, Biden shared <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/speeches-remarks\/2022\/06\/10\/remarks-by-president-biden-on-inflation-and-actions-taken-to-lower-prices-and-address-supply-chain-challenges\/\" target=\"_blank\" rel=\"noopener\">thoughts<\/a> about the global economy.<\/p>\n<p>&#8220;America can tackle inflation from a position of strength unlike any other country in the world, because every country in the world is getting a big bite and piece of this inflation\u2014worse than we are in the vast majority of countries around the world,&#8221; Biden said.<\/p>\n<p>Economists at the Federal Reserve Bank of San Francisco believe Biden\u2019s COVID-19 stimulus packages played a large <a href=\"https:\/\/freebeacon.com\/biden-administration\/this-study-shows-how-bidens-stimulus-contributed-to-inflation\/\" target=\"_blank\" rel=\"noopener\">role<\/a> in American inflation outpacing rates in Europe, where such policies were far less extensive. Former Obama economic advisers <a href=\"https:\/\/freebeacon.com\/biden-administration\/watch-obama-adviser-says-were-all-paying-the-price-for-bidenflation\/\" target=\"_blank\" rel=\"noopener\">have also said<\/a> Biden bears responsibility for rising prices.<\/p>\n<p>Ahead of Father\u2019s Day, <a href=\"https:\/\/www.bls.gov\/news.release\/pdf\/cpi.pdf\" target=\"_blank\" rel=\"noopener\">expect<\/a> dad\u2019s beer to cost around 5 percent more, his cigars 5 percent more, and his dry-cleaning 10 percent more. Letting him off his lawn care duties for the weekend and paying someone else will <a href=\"https:\/\/www.wsj.com\/articles\/inflation-hits-lawn-care-so-americans-get-their-mowers-out-11654645342\" target=\"_blank\" rel=\"noopener\">cost<\/a> a whopping 22.4 percent more than last year.<\/p>\n<p>Splurging on a weekend getaway will cost travelers more than it ever has. Gas prices have <a href=\"https:\/\/gasprices.aaa.com\/\" target=\"_blank\" rel=\"noopener\">reached<\/a> their highest ever, hitting $5.00 for the national average last week. Airline ticket prices have followed suit, <a href=\"https:\/\/fred.stlouisfed.org\/release\/tables?rid=10&#038;eid=34483#snid=34532\" target=\"_blank\" rel=\"noopener\">rising<\/a> almost 25 percent. Hotels and restaurants <a href=\"https:\/\/ycharts.com\/indicators\/us_inflation_rate_hotels_and_restaurants#:~:text=Basic%20Info,long%20term%20average%20of%202.69%25.\" target=\"_blank\" rel=\"noopener\">cost<\/a> 8.3 percent more, and labor shortages are <a href=\"https:\/\/www.businessinsider.com\/restaurant-worker-shortage-continuing-through-2022-survey-2022-2\">expected<\/a> to persist.<\/p>\n<p>Luxury and leather goods have also seen a persistent price increase <a href=\"https:\/\/wwd.com\/fashion-news\/fashion-scoops\/why-prices-designer-handbags-increasing-1235064628\/\" target=\"_blank\" rel=\"noopener\">trend<\/a> throughout the COVID-19 pandemic. One Louis Vuitton style\u2019s price has almost doubled, and Chanel\u2019s iconic flap bag has gone up $2,000 in just over a year. Both companies cite material and labor shortages. Clothing inflation rates <a href=\"https:\/\/ycharts.com\/indicators\/us_inflation_rate_clothing_and_footwear#:~:text=US%20Inflation%20Rate%3A%20Clothing%20and%20Footwear%20is%20at%206.10%25%2C,term%20average%20of%20%2D0.14%25.\" target=\"_blank\" rel=\"noopener\">rose<\/a> to 7.2 percent in March.<\/p>\n<p>Two-thirds of Americans say inflation is <a href=\"https:\/\/freebeacon.com\/biden-administration\/two-thirds-of-americans-say-bidenflation-is-eating-through-their-savings\/\" target=\"_blank\" rel=\"noopener\">eating<\/a> away at their savings, and with an economic crisis <a href=\"https:\/\/freebeacon.com\/latest-news\/stock-market-plunges-as-inflation-fears-soar\/\" target=\"_blank\" rel=\"noopener\">looming<\/a>, it\u2019s hard to be spendthrift.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>June 18 is National Splurge Day, a holiday meant for breaking up budgeting routines and enjoying a little something extra. This year, one thing is certain: No matter the splurge,<\/p>\n","protected":false},"author":929,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1521035","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1521035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/929"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1521035"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1521035\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1521035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1521035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1521035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}