Costco food court menu sign with worker replacing 2.99 price caption 'Inflation is real' (l)Costco food court with menu sign worker grabbing 2.99 price (c) Costco food court menu sign with worker replacing 2.99 price caption 'Inflation is real' (r)

rvlsoft/Shutterstock @bertdez/TikTok (Licensed)

‘It’s happening y’all inflation’: Viral video shows Costco Chicken Bake price increase from $2.99 to $3.99 in real time

'They better not even mess with the hot dog price.'

 

Brooke Sjoberg

IRL

Posted on Jul 5, 2022   Updated on Jul 5, 2022, 1:53 pm CDT

As the U.S. experiences high inflation, nearly all aspects of life are more expensive. The annual inflation rate rose 8.6% in May, according to the Pew Research Center. This is most easily observed at the supermarket, where some categories of grocery items, like beef, reportedly rose by up to 16% in the last year.

One video posted by @bertdez on TikTok, showing the price of a Kirkland Chicken Bake at Costco increasing from $2.99 to $3.99, has commenters fearing the worst.

@bertdez Reply to @roycampbell61 all i could do was watch ot happen.🥺 #inflation #costco #chickenbake #itshappened #hotdog #pricechange #waitwaitwait #thepunisher #whygodwhy #ohwell ♬ original sound – itstadhg12

Some commenters referenced other items that seem to be the last bastions of affordability: the Costco hotdog, Arizona Tea, and other items with reputations for low prices.

“As soon as the hotdog price goes up coup starts,” one commenter wrote.

“Oh hell to the no!!! They better not even mess with the hot dog price,” another commenter wrote.

“Costco and Arizona Tea are the last defenses!” a third said.

Others pointed out that the price hike was significantly higher than the overall rise in inflation. This is because the inflation rate, calculated using the consumer price index, is a measure of increases in the cost of production across all industries. Some items simply cost more than others to produce.

“Damn a whole $1?” one commenter wrote. “When I heard about the price hikes I thought it’d be like $0.50.”

“A 33% increase in price over a 9% increase in inflation?” another commenter wrote.

“Nope,” a commenter wrote. “No inflation! It’s price gouging and greed. Inflation requires us to have more money. Some states are still at 5 an hour.”

The Daily Dot has reached out to @bertdez via Instagram direct message as well as to Costco via email.


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*First Published: Jul 5, 2022, 9:40 am CDT