Memphis Families Suffering From Shrinkflation Over High Gas And Grocery Prices

Memphis residents shared their frustrations with high grocery and gas prices, as well as the pain of inflation.

The latest inflation figures released Tuesday showed that consumer prices rose in August — gas and groceries increased 8.3%, while rents increased 8.3% compared to a year earlier.

A Fox News poll found that 78% of registered voters felt that inflation had caused them financial hardship in the past six months.

Only 34% of voters approved of President Biden’s handling of the economy.

Larry, from Memphis, stated that Biden is “doing his best to get things done.”

After the release of the dire inflation numbers on Tuesday, President Biden hosted an event to celebrate the passage the Inflation Reduction Act.

Biden spoke from the White House lawn and called the Inflation Reduction Act “the single most important legislation that Congress passed to combat inflation, and one of our most significant laws in American history.”

Raquel, a Memphis woman, stated that she supports the president’s policies.

In 2020, President Biden won Shelby County & Memphis by more that 30 points — but lost the state by over 20 points.

One Memphis man stated that he doesn’t believe inflation is a political issue.