You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

Rise in Staple Prices Outpacing Luxury Goods

HeadlineMar 21, 2008

A new analysis shows inflation has led to a greater increase in prices of staples needed for basic daily life than it has on luxury goods. According to the Washington Post, prices for basics, including groceries, gasoline and healthcare, have risen more than nine percent over two years ago. By contrast, prices for luxuries, including restaurant meals, alcoholic beverages, new cars, furniture and clothing, have risen just 2.4 percent. Meanwhile, increases in earnings for non-managerial workers were just over half the increase in staple costs, at five percent. The rise in staple prices is attributed to increasing demand for oil, but also ethanol, which drives up food prices by making food crops more scarce.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top