Everyday items cost more than ever—how much prices have risen since 2020
The cost of everyday purchases has climbed fast this decade, with prices across the economy up about 25% since 2020.
TL;DR
- Inflation has risen 2.7% over the past year, a slowdown from October's 3% pace but still above the Federal Reserve's 2% target.
- Overall prices have increased about 25% since January 2020.
- Household budgets are strained by the cumulative effect of price increases.
- Consumer sentiment is near historic lows, with a recent survey showing 32% of Americans expect their finances to worsen in 2026.
- Inflation is the top concern for consumers, cited more often than income, debt, or interest rates.
- Wage gains since 2020 have been uneven, with higher-skilled workers and certain industries seeing more benefit.