The Price Of Muffins

Created
Fri, 22/12/2023 - 02:30
Updated
Fri, 22/12/2023 - 02:30
And $6 boxes of cereal Between degrees I worked as a waiter. I preferred tips on a credit card. Yes, that made them more reportable. But it also made them bigger. Customers seemed more generous when the cash didn’t come directly out of their wallets. They felt the bite more when they plopped down cash. Americans’ sense that their personal economy remains unwell may stem from something like that. Great economic data is abstract. Six-dollar boxes of breakfast cereal are not. Nor five dollars for a dozen eggs. That’s what Americans feel most, The Atlantic‘s Gilad Edelman explains: Working with Leger, a North American polling firm, we asked 1,005 Americans how they felt about the economy. As with other recent polls, this one painted a gloomy picture. Only 20 percent of people said that the economy has gotten better over the past year, compared with the 44 percent who said it has gotten worse. (There was a big partisan split, but even among self-identified Democrats, only 33 percent said the economy has improved.) Then we asked them to choose, from a long list, what factors they consider when deciding how the national economy is doing. The runaway winner was “The price of groceries for your home”: Twenty-nine percent of people picked it as their top choice, and 60 percent of people selected grocery prices among their top three. Other than “inflation” itself, nothing else came close—not gas, not housing, not interest rates, not the cost of major purchases. And when…