As inflation remains excruciatingly high, residents of Memphis, Tennessee, described their concerns with rising gas and grocery expenses.
Ronald, a lifelong resident of Memphis, stated, “You are paying the same amount of money, but there is less goods. “I believe it’s called shrinkflation,” you ask.
Gas, food, and rent prices all increased 8.3% in August compared to the same month last year, according to Latest inflation numbers data released on Tuesday.
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Willette Hart commented as she walked into her neighborhood supermarket, “I mean, the grocery costs are crazy.”
78% of registered voters stated in a recent Fox News poll that inflation has risen during the past six months.
The handling of the economy by President Biden received just 34% of the vote.
But Memphis resident Larry claimed that Biden is “doing the best he can to get things done.”
It won’t happen all at once, Larry said. You can feel it approaching gradually, but not quickly enough, he said.
Tuesday’s somber inflation figures were revealed, and shortly after that, President Biden hosted an event honoring the passage of the Inflation Reduction Act .
Biden described the Inflation Reduction Act as “the single most important act approved in the Congress to battle inflation and one of the most significant laws in our nation’s history” when speaking on the lawn of the White House.
Raquel, a different Memphis woman, stated that she fully supports the president’s policies.
He’s doing the best he can with the cards he’s been dealt, as my mother used to say, she added.
In August, inflation increased more quickly than anticipated, keeping prices painfully high.
In 2020, President Biden won Shelby County and Memphis were defeated by more than 30 points, but the state was lost by more than 20 points.
You just have to give it time, and I approve of everything he’s doing right now, Raquel said.