About a year ago, the Biden administration told Americans there was nothing to fear concerning inflation. In fact, this White House insisted that the rise in prices was just a temporary step leading towards a great economy.
Needless to say, that great economy has yet to arrive. However, inflation’s now at 9.1% and interest rates are continuing to make loans, mortgages, and credit card bills far more expensive than they were previously.
Americans have been forced into some tight corners. They’re cutting back on driving and even canceling planned trips, due to where gas prices stand.
Now, as everything rises in cost, more people are turning to the dollar store to purchase necessary items, per Washington Examiner.
An Uptick in Sales at the Dollar Store
Between October 2021 to June 2022, dollar stores have seen their sales go up by 71%. Meanwhile, traditional grocery stores have witnessed their sales decline by 5%.
Dollar General recently told the Wall Street Journal that it views itself as a “general store” that’s able to supply affordable products to consumers in need of them.
Americans are ultimately having to make do as times get tougher. This may mean not getting groceries from stores like Walmart or Publix and heading to the nearby dollar store to see what foods they’re selling.
Americans are relying more on dollar and discount stores for groceries. Average spending on grocery products at discount chains increased 71% from October 2021 to June 2022. https://t.co/a52bsY4F28
— The Wall Street Journal (@WSJ) August 2, 2022
Going forward, food prices are expected to rise. This has been announced by farmers who are seeing price upticks in supplies and production fees. This leaves farmers with no choice but to increase their own prices to offset the difference created by inflation.
Going forward, there may be more and more Americans shopping at dollar stores, as these products could be all that most folks can afford.
A Time of Reckoning For the Biden Administration
Recent financial reports revealed the nation’s GDP contracted for two consecutive quarters.
This constitutes the traditional definition of a recession; however, the Biden administration is now looking to change this definition since a recession reflects extremely poorly on the administration.
Democrats are not letting Biden off the hook, however. They’re continuing to hold the White House accountable, explaining the ways in which Biden drove this nation’s economy into the ground.
— Robin Roberts (@RobinRoberts) August 2, 2022
The White House, on the other hand, claims a series of different factors have to go into whether or not a recession is here.
Meanwhile, neither the president nor his top aides have spoken about the growing numbers of Americans who have to get their groceries from the dollar store.
What do you think about the news that more Americans are getting their goods from the dollar store? Do you believe this is a trend that’s going to pick up as time passes? Let us know what you foresee happening in the comments area below.