Some of America's favorite bargains are dead. Blame the highest inflation since 1990.
The economy is rebounding quickly, but Americans are paying the price. Massive demand has crashed into limited supply, leading businesses to hike prices at the fastest rate in decades. The Biden administration and the Federal Reserve expected the elevated inflation to quickly fade, but as the supply-chain crisis persists, prices continue to surge higher.
October data show inflation plaguing nearly every part of the US economy. In some areas, rising prices have eliminated famous deals altogether. Year-over-year inflation of 5% might not sound like much, but it means the difference between a $1 bargain and a less-compelling deal.
Here are three cheap buys that inflation has killed for good.