They're lying to us because it's an election year. The prices are going to be far worse than that.
People have already had to cut to the bone because the economy is so bad and the government is taking so much of what they have left. They're to the point they'll have to give up other things in order to feed their families. Sell or mothball the second car, let the roof leak for another year, wear old clothes, spend vacation at home doing repairs themselves, skip the dental checkups, drop insurance policies, cheat on their taxes ... it's all coming, and it's all going to depress the economy even further. Whoever is elected president this November is going to catch the blame for it, too.