Prices.... Going Up!!!

[invaderzim]

Per today's finanical reports, inflation in USA down, from 8.5% to 8.3......

One of my gripes is how they say something is down because it didn't increase as much as before. I'd be willing to bet a good sum that a lot of people on the street think things are cheaper since it is 'down'.

Good news, each year I usually add 6 to the total number of times I hit you with a stick the prior year, but this year I'm only adding 5.

 

[invaderzim]

and still the high cost of vehicles, new or used.

I just looked at prices on new 2022 models that in normal years would be 5K off as the model year changes and the MSRP price is crossed off like they are discounting it but the dealer price next to that is 1K over MSRP. About 25% higher than a normal year.

 

[OnTheBlitz]

You all haven't seen anything yet. Buckle in.

 

[Mystic]

One of my gripes is how they say something is down because it didn't increase as much as before. I'd be willing to bet a good sum that a lot of people on the street think things are cheaper since it is 'down'.

Good news, each year I usually add 6 to the total number of times I hit you with a stick the prior year, but this year I'm only adding 5.

And what's ... well, more ... is that food, a major cost-driver for most households, is deemed "volatile" and thus excluded from the officially-sanctiond ROI. So, we see (as you pointed out) guv line that ROI is "down" despite a miniscule decrease while simultanesly an essential like food increased during the same period. Maddening to say the least and insulting, as if "they" are saying we're all only imagining higher prices and whatnot. They do the same effin' thing here in EU, but not w/ quite the spirit of dismissiveness as USA Inc.

 

[Mystic]

One of my gripes is how they say something is down because it didn't increase as much as before. I'd be willing to bet a good sum that a lot of people on the street think things are cheaper since it is 'down'.

Good news, each year I usually add 6 to the total number of times I hit you with a stick the prior year, but this year I'm only adding 5.

So, here's the deal on rate of inflation @ CPI since last month for FOOD... what guv is not talk' about:

Food at home MoM YoY

Cereals and cereal products 1.2% 16.4%

Beef and veal 0.8% 2.5%

Pork 0.3% 6.8%

Poultry 0.8% 15.9%

Fish and seafood -0.2% 8.7%

Eggs 2.9% 39.8%

Dairy and related products 0.3% 16.2%

Fresh fruits -0.7% 8.3%

Fresh vegetables 1.2% 7.6%

Juice & nonalcoholic drinks 1.1% 13.1%

Coffee -1.0% 17.6%

Fats and oils 1.9% 21.5%

Baby food -2.0% 12.6%

Alcoholic beverages (home) 0.5% 3.2%

Moreover, food inflation hits lower-income consumers the most because they spend a bigger part of their budget on food. taken together, food inflation and housing cost inflation have been brutal on lower-income consumers over the last year.

Source: CPI Survey, U.S. Bureau Of Labor Statistics

 

[ra7c7er]

I tend to watch prices through what I buy. One of the biggest changes has been Wolf brand Chili outside of it being priced vastly different at different stores (anywhere from 2.55-4.29 a can) the price has gone up more then 60 cents in the last few months.

 

[felix_katze]

yeah, the weaknesses of any measure of inflation are well known. That the models react slowly to sudden events is also known. For everything included and excluded, someone complains about it.

But actually its not ultimately that important. The thing is, the numbers and the movements among various metrics all more or less point to the same trend - prices are going up, at an unexpected and unsustainable pace.

How decision makers react to that information is by far more important.

If you have a robust, lag free model for inflation, then there is a Nobel prize waiting for you...

 

[OnTheBlitz]

6 figure salaries are now the "new low income".

 

[grillebilly]

Let them eat televisions

 

[parman]

I heard a comment yesterday that claimed now that fuel price have gone down some it won't be long before other prices fall, yeah right

 

[OnTheBlitz]

Auto insurance. 1/19/2020 mine was $74, the Mrs was $122. Driving records are the same now as they were then. Now mine is $105, the Mrs $161.

"Happy Days are here again"

 

[reddodge053]

Kinda feel like there will slight drops in prices,well between now and nov. anyway.

 

[NH-MAN]

So, here's the deal on rate of inflation @ CPI since last month for FOOD... what guv is not talk' about:

Food at home MoM YoY

Cereals and cereal products 1.2% 16.4%

Beef and veal 0.8% 2.5%

Pork 0.3% 6.8%

Poultry 0.8% 15.9%

Fish and seafood -0.2% 8.7%

Eggs 2.9% 39.8%

Dairy and related products 0.3% 16.2%

Fresh fruits -0.7% 8.3%

Fresh vegetables 1.2% 7.6%

Juice & nonalcoholic drinks 1.1% 13.1%

Coffee -1.0% 17.6%

Fats and oils 1.9% 21.5%

Baby food -2.0% 12.6%

Alcoholic beverages (home) 0.5% 3.2%

Moreover, food inflation hits lower-income consumers the most because they spend a bigger part of their budget on food. taken together, food inflation and housing cost inflation have been brutal on lower-income consumers over the last year.

Source: CPI Survey, U.S. Bureau Of Labor Statistics

I was just reding this to my GF that took the day off and she said yesterday on the of the girls at work with two-bedroom apartment electric went from avg $101 or so to 210

mine with different supplier is up about $80 or so, for now.

 

[stereofanboy]

...If you have a robust, lag free model for inflation, then there is a Nobel prize waiting for you...

Should be, but somehow I doubt there would be.

 

[Mystic]

Should be, but somehow I doubt there would be.

I agree: should, but ain't gonna happen.

 

[Mystic]

Market cost of friggin' RICE is up:

Rice futures were trading around $17.5 per hundredweight, approaching a two-year peak of $18 of mid May, likely owing to concerns about tightening supplies and rising worlwide demand for grains in general and rice in particular.

Lotta cereal eaters out there.

 

[GChief]

Wait for this rail strike to kick off

 

[Mystic]

Market cost of friggin' RICE is up:

Rice futures were trading around $17.5 per hundredweight (CWT), approaching a two-year peak of $18 of mid May, likely owing to concerns about tightening supplies and rising worlwide demand for grains in general and rice in particular.

Lotta cereal eaters out there.

RICE FUTURES (USD/CWT) - SEPTEMBER 2021 TO 14 SEPTEMBER 2022

 

[Mystic]

Wait for this rail strike to kick off

That'll be a hoot.

Okay, now I'm thinking about Hooterville.

Okay, now I'm thinking about Hooters.

Oy.

 

[GChief]

Okay, now I'm thinking about Hooters.

I could probably remove the now in that for me.