I’m nonetheless fascinated by affordability and this previous Tuesday’s election. My newest obsession is the Walmart Thanksgiving bundle price. President Trump stated it’s 25% decrease this yr than it was final yr. So, I did a bit of reality checking. It is really 28% much less. Even higher. In 2024, the Walmart Thanksgiving bundle price about $53 for 21 completely different merchandise. This yr it prices about $38 for 15 completely different gadgets. So there are six fewer gadgets, nevertheless it’s $15 cheaper.
You’re most likely all hoping that I don’t undergo all of the gadgets on this riff. You’re proper, I’m not going to do it. Nonetheless, the butterball turkey, which I believe of us would agree is basically the principle merchandise, is $13.01 for 13.5 kilos. That’s 97 cents per pound, the bottom worth since 2019. Which by the way in which, was the final time Mr. Trump was president. And Goal is claiming that their Thanksgiving bundle is the bottom worth ever.
That doesn’t precisely clinch the affordability problem in favor of President Trump, nevertheless it’s a fairly good head begin in his favor as we method the Thanksgiving vacation.
The inflation price since Mr. Trump was sworn in is averaging about 2.5%. Through the Biden years it was greater than twice as a lot at round 5.5%. And naturally it peaked at 9% – the worst in 40 years. The Atlanta Fed wage tracker is exhibiting 4.1% by means of August. And even with 2.5% inflation, meaning actual employee wages are rising at about 1.5%. They fell in the course of the Biden years, and admittedly, most of Mr. Trump’s provide aspect tax cuts and deregulation and vitality dominance have solely barely begun to take impact.
Subsequent yr, as a lot as $200 billion in tax refunds will come to the good American center class, bolstering affordability that rather more.
So, comfortable affordability and though it’s early, Joyful Thanksgiving too.