Varney on hot inflation: Are you better off now?

During his latest "My Take," "Varney & Co." host Stuart Varney questions if Americans are better off now than they were under former President Trump as sticker price shock rattles the U.S.

STUART VARNEY: When inflation is running hot, there are times when price hikes come as a real shock. When you get the bill, you think: gee, do I really want to pay that much?  

That's when consumers start to pull back. We may be close to that point.

Look what I saw this morning: the astonishing concession stand prices at the PGA Championship this week.

For the benefit of our radio listeners, I'll spell it out: $18 Michelob beer. $19 for a Stella. $14 cheeseburger, $8 hot dog. $6 water. $7 Gatorade. 

OK, it’s a special event, but if you want to eat or drink at the PGA, you'll pay through the nose.

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Last weekend I was in Florida. Family vacation. What a shock. We ate in some quality restaurants. OK, high end.

The price of entrées, main courses, had gravitated to the $60 range, from $40 a year ago. Cocktails: $20. I'm pulling back.

Went up to my farm. Filled up the Ford F-150. $100. First time I've ever paid that for any vehicle I've ever owned.

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I'm not looking at this as an economist or as an investor. I'm looking at this as a consumer, and I have to believe that most people feel that same sticker price shock. 

You can see it on people's faces in the grocery store.

There is anger. There is despair. Our standard of living is falling. 

Are you better off now than you were when Trump was president?

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