How much has the cost of milk risen since the pandemic?
The cost of an average meal at an inexpensive restaurant in the Las Vegas Valley has increased almost $10 since the onset of the COVID-19 pandemic.
Statistical analysis website Numbeo, which uses U.S. Census Bureau and Consumer Price Index data as its sources, estimates that at the end of 2023 a meal for one person at an inexpensive restaurant cost an average of $26.08. That is up from $16.86 in 2019 before the pandemic.
In comparison, the average meal at an inexpensive restaurant in Las Vegas in 2014 was $16.
A meal for two people at a mid-range restaurant with three courses in the valley cost $72.22 in 2019, and at the end of last year that number rose to $79, according to the analysis. In comparison, the average mid-range restaurant meal cost $65.53 in 2015.
McDonald’s has come under scrutiny for increasing its prices exponentially over the past few years and has responded by lowering prices in some instances. The average price for a McDonald’s meal in 2019 was $8.33, and at the end of last year it was $13.18. In comparison, the average McDonald’s meal for one person was $6.81 in 2016.
Coca-Cola and Pepsi have also raised prices. The cost of a 0.33-liter bottle in 2019 was $1.67, and at the end of 2023 it was $2.42. Bottled water has also gotten more expensive. A 0.33-liter bottle cost $1.46 in 2019 and now costs $2.12.
The price of a coffee has gone up from $4.37 in 2019 to $5.27 at the end of last year.
A one-liter jug of milk cost 71 cents in 2019, and at the end of 2023 that number rose to $1.02. The price of a loaf of fresh white bread was $1.96 in 2019, and at the end of last year it was $3.96. Eggs have risen the most out of any grocery store item. A dozen eggs cost you $1.73 in 2019, and that number rose to $4.53 last year.
The price of one kilogram of rice has more than doubled from $3.31 in 2019 to $8.25 at the end of last year.
Las Vegas Valley residents need to make $111,416 a year to “live comfortably,” according to a Go Banking Rates study that came out in October.
This put the valley as the 16th most expensive metropolitan area in the U.S. among the 50 analyzed in the study. The Las Vegas Valley ranked above such cities as Atlanta, Nashville and Phoenix.
The Go Banking Rates study used a popular economic model called the “50/30/20 rule” where someone should not spend more than half of their earnings on essentials such as rent, utilities, groceries, transportation and health care.
Contact Patrick Blennerhassett at pblennerhassett@reviewjournal.com.