Wednesday, October 15, 2008

Money & Business

Alpha Consumer by Kimberly Palmer

Consumers Squeezed by Food and Gas Prices

March 21, 2008 03:19 PM ET | Kimberly Palmer | Permanent Link | Print

If it feels that you have less money left over for luxuries, here's why: Prices for groceries, gasoline, healthcare, and other staples have risen 9.2 percent since 2006, according to the Washington Post. During the same period, income for nonmanagerial workers has risen only 5 percent. The one sliver of good news? Prices for what might be considered indulgences, such as restaurant meals, alcohol, new cars, furniture, and clothing, have gone up by 2.4 percent. So if you do have any money remaining after feeding yourself and your gas tank, a dinner out might be affordable.

Tags: personal finance | prices | gas prices

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Reader Comments

In Alaska, we haven't yet begun to "sacrifice..."

Sure prices are surging for staples and the basic needed comodities, but I think we have not yet begun to sacrifice...I don't think we even know what real sacrifice is...we still live much the same as we have become accustomed to living.

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Kimberly Palmer, senior editor for U.S. News & World Report, writes about how to save money, avoid scams, manage debt, and be a savvy shopper. Share with her your own money issues by sending questions to alphaconsumer@usnews.com.

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