The price cut is due to the chain’s “Thanksgiving Price Rewind”, which readjusted prices to their 2019 numbers.
“Providing amazing products at the absolute lowest prices is what we’ve always done, and we know right now that’s more important than ever,” President of ALDI U.S. Dave Rinaldo said.
It’s a stunning way to put into context just how much more we’re paying for everyday items after only 3 years.
Aldi stores will discount Thanksgiving season grocery staples to match pre-inflation prices of 2019 as part of the “Thanksgiving Price Rewind” promotion. https://t.co/QBl3JGVlTg
— WFAA (@wfaa) November 3, 2022
Meanwhile, the politicians responsible for the higher costs remain blissfully unaware of the struggles of their constituents to afford their everyday necessities.
A 46.8 percent increase on eggs and a 15.4 percent increase on bread from July 2021 to July 2022 are prime examples of how out-of-control inflation rates hits the most vulnerable among us hardest.
The 2021 monthly inflation rates read like a horror story. In 2021 inflation skyrocketed from 1.4 percent in January to 7.0 percent in December, averaging out to 4.7 percent. Going back to 2000, no year had a higher average inflation rate.
In 2022, inflation only got worse, ballooning up to 8.2 percent by September.
Price cuts like these are a breath of fresh air for customers just looking to provide a Thanksgiving dinner for their families.
“[T]his news [is] coming at a time when it is needed for so many Americans. Turkey costs are projected to rise 23 percent this year. Wells Fargo [is] saying that the overall cost of a Thanksgiving basket is going to cost 14.9 percent, basically 15 percent, more than it did a year ago,” Seana Smith of Yahoo Finance pointed out.
The problem ultimately circles back to the root issue of inflation and how it impacts everything around us.
According to Tomas Philipson, an acting chair of the White House Council of Economic Advisors during the Trump administration, the cause of the spiraling inflation is twofold.
“[Biden]’s increased demand dramatically with the fiscal policies, which is basically pumping up demand. Increased demand raises prices,” Philipson said, the New York Post reported. “And then he has restricted supply, particularly in energy but also in other sectors, by his regulatory state, which compared to Trump is massive. It’s massive even compared to Obama.”
Knowing the cause of this bout of inflation is good, but the country is now dealing with the effects of it daily.
Renowned economist Thomas Sowell explained it this way, “If you put $1,000 in your piggy bank in 1960 and took it out to spend in 2000, you would discover that your money had, over time, lost 80 percent of its value.”
Sowell goes on to explain that inflation takes the same amount from the rich and poor across the country, but it more greatly impacts those with less money. “This can happen because the rich can more easily convert their assets from money into things like real estate, gold or other assets whose value rises with inflation.”
“[A] welfare mother is unlikely to be able to buy real estate or gold. She can put a few dollars aside in a jar somewhere. But wherever she may hide it, inflation can steal value from it without having to lay a hand on it.” Sowell added.
While the wealthy can mitigate the damage done by inflation, those in the middle or lower classes aren’t so lucky.
While government officials enact policies that stunt economic growth and make life harder for the average American, Aldi is providing reasonable prices to those most in need of a warm Thanksgiving meal.