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Why Inflation Broke Our Hearts

Posted by Bobby Brown on April 04, 2023 - 1:36pm


This Valentine’s Day, the U.S. Bureau of Labor Statistics released its monthly Consumer Price Index, indicating rising inflation on nearly all items over the month of January. 

One of the biggest challenges this Valentine’s Day was not heartbreak over love, but affording to show love to those we care about. 

Compared to last year, couples had to spend 8.2% more on a meal out. If they decided to have a romantic dinner at home to save money, they still had to spend 11.3% more than last year. 

Americans had to pay 12.2% more to give candy to their loved ones. A bouquet of flowers was 5% more than last year, jewelry was 5.3% more, and alcoholic beverages away from home were 6.9% more. 

If partners wanted to write a handwritten love note or wrap a thoughtful gift, they had to spend 16.2% more than last year—one of the larger increases this year. Those who had to ship a package to a loved one far away paid 6.8% more on postage and delivery. 

Across the board, inflation increased 6.4% on all items for the last 12 months ending in January and 0.5% from December to January. Energy alone increased 8.7% for the last 12 months and 3.1% over the month. Transportation services increased by 14.6% compared to last year and 0.8% in January. Clothes increased 3.1% from last year and 2.6% in January. Prices of household supplies rose by 11.3% over the year and 1.4% in January. Prices of personal care products rose by 7.1% over the year and 0.3% over the month. Shelter, including rent, hotels, and household insurance, was up 7.9% from last year and 0.7% in January. 

Inflation broke our hearts on this year’s Valentine’s Day and will continue breaking our hearts unless the Biden administration takes the blame for rising prices and stops pushing for inflationary spending. In the words of Julia Roberts, “I wish I were a little girl again because skinned knees are easier to fix than a broken heart.” The broken hearts caused by inflation will be hard to fix, but possible if the administration takes control of its immense federal spending.