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Inflation, The Grinch that Stole Christmas

Whether it’s the Christmas tree or the gifts under it, inflation is stealing Americans’ Christmas cheer this year. Over 70% of Christmas tree growers plan to raise prices this year as much as 15% in order to afford rising production costs. According to the National Retail Federation, shoppers could pay more for less as they are expected to spend up to 8% more this year on holiday goods because of rising costs. Now, small businesses are bracing for declining sales as Americans plan to cut back.

Families across the country are paying more for just about everything:

  • Food at home is UP 12.4%

  • Energy is UP 17.6%

  • Fuel oil is UP 68.5%

  • Motor fuel is UP 18.1%

  • Gasoline is UP 17.5%

  • Energy services are UP 15.6%

  • Electricity is UP 14.1%

  • Utility (piped) gas service is UP 20.0%

  • Public transportation is UP 28.1%

  • Air fares are UP 42.9%

  • Flour is UP 24.6%

  • Chicken is UP 14.5%

  • Eggs are UP 43.0%

  • Milk is UP 14.5%

  • Potatoes are UP 15.2%

  • Canned fruit and vegetables are UP 18.7%

  • Roasted coffee is UP 15.6%

  • Butter is UP 26.7%

  • Food at employee sites and schools is UP 95.2%

  • Health insurance is UP 20.6%


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