The inflation report that came out today specifically omits fuel and grocery prices because those are “volatile” categories. My grocery bill is double what it was two years ago and has been for six months. I wouldn’t call that volatile.
I feel the actual inflation
Submitted 1 year ago by MakunaHatata@lemmy.world to [deleted]
https://lemmy.world/pictrs/image/1e45bc80-6abc-4640-a1d6-8d6730927423.jpeg
Comments
_TK@lemmy.antemeridiem.xyz 1 year ago
Speculater@lemmy.world 1 year ago
Groceries are stupid, it cost me $20 to make a lasagna that last year cost $10.
SoleInvictus@lemmy.world 1 year ago
It’s funny you say this, because my wife and I just made a lasagna and were shocked it cost nearly $30.
tacosplease@lemmy.world 1 year ago
Costs me $12 to make 2-3 sandwiches at home using deli meat and cheese, a loaf of French bread, and 2 small tomatoes. That’s while taking advantage of sale prices. Would be more like $8/sandwich if I hadn’t bought the meat and cheese on sale.
agarorn@feddit.de 1 year ago
Wtf. I mean I realized how much you us people pay for food when I was there last year, but 20$ for lasagna. What’s going on? I think I can easily do it under 10€,even buying “better” meat.
droans@lemmy.world 1 year ago
They didn’t omit those prices. CPI and Core are two separate measurements. Core excludes food and energy.
In fact, excluding food and energy actually made the numbers worse. CPI is at 3.0% YoY. Core is at 4.8%.
Cleverdawny@lemm.ee 1 year ago
Idk man ground beef is still like $3 a pound for me, milk $2.70 a gallon, pasta $1 a pound. I’m not saying some things haven’t gotten more expensive because they have, but my grocery bill from 2 years ago is like 20-30% more expensive now.
whofearsthenight@lemmy.world 1 year ago
I’m not sure what point you’re trying to make. A 20-30% jump in a grocery bill is unprecedented in my life time. I’m skeptical it’s even that low for most. Pre-pandemic, I was buying eggs for 1.39, they’re 2.49 now. Jarred spaghetti sauce used to be 1.99, it’s 3.49 now if I catch a sale. I used to be able to regularly buy chicken breast for like 1.49-1.99, now if it’s less than 3 I buy as much as I can afford and freeze it. This time of year in my area, corn would usually be on sale 4/$1. The cheapest it’s gotten is $0.79.
Just repeat ad nauseam for everything. The other day I was in the store thinking to myself, “I’m not sure I can afford convenience foods like canned beans.” Canned. Fucking. Beans. The luxury.
_TK@lemmy.antemeridiem.xyz 1 year ago
Where I am at,ground beef is more in the $5-6/lb range, as a comparison. We have some dairy farms local so milk is a bit cheaper, but basically everything else is significantly more expensive, especially meat.
RufusFirefly@lemmy.world 1 year ago
Grocery prices can vary widely depending on location. The absolute cheapest Walmart ground beef I can get is $4.50 per pound and milk is $3.62 a gallon. Pasta is a $1 pound and eggs are relatively cheap here. Produce has gone through the roof.
Saneless@lemmy.world 1 year ago
Depends where you’re at. Ohio? Same. Florida? 2-3x
stebo02@lemmy.dbzer0.com 1 year ago
inflation can’t be that cute
PerCarita@discuss.tchncs.de 1 year ago
Yuck
darthsid@lemmy.world 1 year ago
Sir, explain
PerCarita@discuss.tchncs.de 1 year ago
I wish these had been dick pics instead
FluffyPotato@lemmy.world 1 year ago
I wish my country’s government had the testacles to cap prices on food. I order food mostly online and I compared prices from 2 years ago and most things are at least 200% more expensive, cheese for example is like 600% though.
Cleverdawny@lemm.ee 1 year ago
If they cap prices on food, then you’ll see food shortages instead of expensive food
Chickenstalker@lemmy.world 1 year ago
How so? In my country, certain basic food items are priced capped AND rationed, meaning you’re only allowed to buy a certain amount of it at a time.
> but but but muh freedum market$$
No! Worldwide, the agricultural sector is THE MOST SUBSIDISED economic field. You can’t have it both ways. If taxpayers’ money is used to prop up your business, you have a duty to the taxpayers and country.
FluffyPotato@lemmy.world 1 year ago
Most food here is locally produced, I don’t see how that would create a shortage. Like people aren’t going to sell their grocery stores cuz their margins are thin again and farming is so heavily subsidised that I don’t see it effecting farmers.
disconnectikacio@lemmy.world 1 year ago
Dont. Here in Hungary the commie ruling party (fidesz) capped some food prices, which lead to world recorder food inflation (47% measured), and top 3 overall inflation (36% measured). A lot of food products are 100-300% more expensive, also i cant say any product (not just food) that isnt became at least 40% more expensive. When caps lifted, there was a smaller price drop.
They also capped the fuel prices, then when they revoked the cap, the fuel became one of the most expensive from the surrounding countries.
Communist methods cause more problems than solve
FluffyPotato@lemmy.world 1 year ago
Yea we have a food inflation pretty close to those measured numbers though in reality its a lot higher and that’s without any caps. Also how could a food price cap cause inflation in food prices? That’s literally the thing you are capping.
MystikIncarnate@lemmy.ca 1 year ago
In some ways, the reported inflation is real. The main increase in cost is not actually real, or caused by anything except greed.
There’s also a lot of hidden costs that aren’t factored into inflation as strongly as they should be, or at all. Those hidden fees have also gone up.
So the entire business segment is just hand waving the whole issue because they know it will be reported wrong; they’re going to keep raising prices and point to the “official” inflation numbers and continue to feed us the bullshit that inflation isn’t a problem to justify never giving their employees a raise.
IDK how stupid they think we are, but I’m sure they think we’re little more than retarded (I mean that in the clinical sense). They’re (very publically) showing massive profit numbers, using inflation, or the lack thereof, to justify slave wages, while ripping off their users as much as they think that they can without creating riots.
More for them, less for us. As it’s always been.
carr0ts@startrek.website 1 year ago
When you thought Lenny would be less cringe than Reddit: 🤡
Sharkwellington@lemmy.one 1 year ago
I mean it is in fact a shitty post.
slackassassin@sh.itjust.works 1 year ago
But can the shit still be cringe when it’s shitty cringe and taken as merely cringy shit? The question of out times.
FlexibleToast@lemmy.world 1 year ago
Is there a c/lost_lemmings? Because this guy would fit right in.
Diprount_Tomato@lemmy.world 1 year ago
My country’s news say we’re improving with a straight face. And I’m like “improving in what? Making the country sink more efficiently?”
Mic_Check_One_Two@reddthat.com 1 year ago
The stockholders have improving profits. That’s all the media cares about. If profits go up, the media will be praising it even if inflation is killing the bottom 90%.
GreatAlbatross@feddit.uk 1 year ago
“It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grammes a week. And only yesterday, he reflected, it had been announced that the ration was to be REDUCED to twenty grammes a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it. Parsons swallowed it easily, with the stupidity of an animal. The eyeless creature at the other table swallowed it fanatically, passionately, with a furious desire to track down, denounce, and vaporize anyone who should suggest that last week the ration had been thirty grammes. Syme, too — in some more complex way, involving doublethink, Syme swallowed it. Was he, then, ALONE in the possession of a memory?”
Diprount_Tomato@lemmy.world 1 year ago
Literally 1984, but this time isn’t even a joke (I’m fucking scared)
TwoGems@lemmy.world 1 year ago
I’m honestly not sure why there isn’t civil unrest worldwide. People have got to be suffering mass homelessness at this point and starving. I did hear that theft from grocery stores increases but to me it’s well deserved.
Diprount_Tomato@lemmy.world 1 year ago
The Internet happened
balderdash9@lemmy.world 1 year ago
Feels like everything is too expensive these days. Rent now takes more than 1/3rd of my income and I’m trying out different foods so that I can save on groceries. Hell, I don’t drive anymore if I can avoid it. Shit is getting rough out here.
Kidplayer_666@lemm.ee 1 year ago
Well, thing is, some product categories probably aren’t suffering the same price hikes as groceries, fuel and rent. Stuff like cable and internet, clothing and office supplies are probably bringing the average down (please tell me if they’re having inflation, I pulled these categories out of my butt).
Wanderer@lemm.ee 1 year ago
Any more pic of them or are they just randomers on one photo?
God amateur stuff on the internet is so so much worse than it was 5-10 years ago :(
Fhek@lemm.ee 1 year ago
It’s a meme, put your dick away.
WtfEvenIsExistence@reddthat.com 1 year ago
Now I really like the um… inflation ( ͡° ͜ʖ ͡°)
db2@sopuli.xyz 1 year ago
explodicle@local106.com 1 year ago
Sure it’s a widespread increase in the prices of goods and services, but corporate profits are up too so that makes it not inflation, for some reason. /s
dunning_cougar@waveform.social 1 year ago
Inflation is transitory, and it is Trump’s fault for overheating the economy anyways.
EhList@lemmy.world 1 year ago
None of this is because of Trump. He is too far removed from office and inflation is typically not the result of something the executive did. The Fed and Congress are much more directly responsible for the economy as they control the purse strings and interest rates respectively.
I have no love for TLFG but he’s not to blane in this case
Torvum@lemmy.world 1 year ago
Love the cognitive dissonance of the populist backlash to Trump where even if you look at his 4 years and realize that logically he was pretty much an average (we haven’t had a decent one in a loooooong time) president in all categories, he’s somehow responsible for every bad in all industries, even where the checks and balances would have prevented him any influence over.
NathanielThomas@lemmy.world 1 year ago
Inflation should have showed big ol fake titties
genoxidedev1@kbin.social 1 year ago
You just gave me a whole new perspective
SatansMaggotyCumFart@lemmy.world 1 year ago
Yeah, actual inflation is good and all but actual inflation is the type of woman to have a secret cocaine addiction and a drinking problem then you catch her in bed with your neighbour so you kick her out of the house but you still let her swing by every once in a while to bang when you’re drunk enough that you probably shouldn’t be sleeping with anyone and it’s a fifty percent chance your dick will actually get hard.
figaro@lemdro.id 1 year ago
You doing ok Satan?
SatansMaggotyCumFart@lemmy.world 1 year ago
Does it sound like I’m doing okay?
dx1@lemmy.world 1 year ago
Moving onto the projections for Q4…
festemmie@lemmy.world 1 year ago
thats why i prefer crypto (anime girls)
explodicle@local106.com 1 year ago
Crypto has unlimited inflation.
festemmie@lemmy.world 1 year ago
exactly
Siegfried@lemmy.world 1 year ago
Amateurs
ODuffer@lemmy.world 1 year ago
Are you sure
Siegfried@lemmy.world 1 year ago
I have lived in a +30% inflation country throughout all my life (now +100%) and my governemnt lied so much about it that we had to pay fines to international entities.
Im quite sure… unless you are from vzl, arg… in that case, lo siento hermano
li10@feddit.uk 1 year ago
[deleted]feedum_sneedson@lemmy.world 1 year ago
large, distracting breast
Pat_Riot@lemmy.today 9 months ago
Stop trying to make me feel good about inflation.
outer_spec@lemmy.studio 1 year ago
For more information, look up “breast inflation” on google
sj_zero 1 year ago
Someone was telling me that the reported inflation rate accurately predicts prices, so I wrote the following:
The rule of 75 is an accounting and investment tool to help estimate how long it will take for prices to double. It can be used to determine how long it will take for an investment to double if you use growth rate, and it can also be used to estimate how long it will take prices to double if you use the inflation rate.
What you end up doing, is you take the number 75, and you divide it by the growth or inflation rate. What you end up with is the number of years it should take for the prices of something to double and that growth or inflation rate.
If it were true that prices were growing at 2%, then it should take roughly 37.5 years for prices to double. This is not been what people have experienced. As I bring up specific examples, remember that to be matching inflation as it is stated, prices should have doubled within the full lifetime of an older millennial.
The largest component of most people’s budgets is going to be rents or mortgages. My first apartment in the 2000s cost me roughly $350 for a two-bedroom place. It was in an apartment building in a pretty nice area of town. Today, in the same city, you cannot rent a place for less than a thousand.
Later on, I was renting a house in the same city. This was around 2012. At that time, that house rental was costing me $785 a month. It was a decent house in a good area of town. Within a couple years, we were kicked out of that place because it was no longer economical for the landlord to be renting it, and by that point you couldn’t get a house for less than $1,200 a month.
In the city that I’m in right now, you could buy a nice house for just over $100,000 about 15 years. In fact, my father bought two. In 2015, I bought a house for roughly $220,000 and that was more or less the price of houses in that region at the time. In just those 7 years, my house is already worth $350,000.
So why didn’t inflation numbers capture these massive increases in housing costs? The reason that they didn’t is that they don’t bother checking the cost of the same place. Instead, they use tricks in order to keep the number lower. For example, they use a concept called owner equivalent rent where they ask people who don’t rent but own their home how much they would be willing to rent a house similar to what they’re living in for. Of course, this is a completely made up number.
Now housing in my region is an unusual example, but it’s by far not the only one.
Some bills have massive inflated. High speed internet in my region was $37.50/mo in 2007, but is almost $100/mo today. That’s almost 300% in 16 years.
Electricity has doubled since 2007. So has water.
In 1995 gasoline was 60 cents per liter. In 2005 it hit a dollar for the first time. Last year, it hit two dollars for the first time.
Beef has gone up 300% since 2013. Now this goes to another way that they game the system with respect to inflation. Let’s say that beef doubles and you can’t afford beef anymore, so you start to eat chicken. Well if chicken happens to be the same cost as beef, then they call that substitution and it is considered to cost the same because your cost of living hasn’t increased. And then you move from chicken to organ meats, and it costs the same then inflation still hasn’t increased for them, even though actual cost of living has gotten much worse and the only reason it doesn’t look like that is that you are cutting corners to deal with it. Your quality of life is going down because the cost of living is going up. This is called substitution.
Bread prices have easily doubled. If you went back to 2007 and told people that a normal loaf of bread would cost almost $5, they’d look at you funny.
When I first started using netflix, the service cost about $7 a month. Today, the same service costs $20 a month. In addition, back when I first started using Netflix it was a service with all of the TV shows I wanted to watch. Today, I’ve got four streaming services to try to get all of my TV shows because the company smelled blood in the water and decided to stop licensing their properties to Netflix and open their own.
Netflix speaks to one of the one-way valves that Central Bank economists use to make inflation numbers look better than they are. In the 2000s, a very good GPU would cost about $400. Today, a very good GPU costs $1,500. iPhones used to be considered fairly expensive at say $400, now the top of the line iPhones are over a thousand. The thing is, the economists who are not paying attention to the fact that things are getting worse price in the fact that your GPU and your iPhone are better than the ones that you would have gotten 15 years ago so that they can ignore the fact that you’re spending more for a new iPhone or a new GPU. That adjustment is called hedonic adjustment.
So overall, we have talked about the costs of food, we’ve talked about the cost of energy, we’ve talked about the cost of housing, we’ve talked about the cost of utilities, and all of these have gone up in many cases at least 100% in the past 15 years. Now, perhaps it isn’t every single thing, but when some of the largest parts of a family budget are increasing that much in that span of time, a cpi that suggests prices rising at least than half that rate is clearly wrong and given the out in the open “adjustments” that started in the 80s and continued through the 90s. There are websites that track cpi using the pre-1980 cpi calculation, and the previous number is consistently significantly higher.
AlmightySnoo@lemmy.world 1 year ago
tbh both inflation numbers are hot
misterawesome42@lemmy.ca 1 year ago
Yeah, I wouldn’t mind being screwed by either of these inflations.
Kerensky1101@lemmy.world 1 year ago
Image
Diprount_Tomato@lemmy.world 1 year ago
Nah reported inflation is better. Too much inflation might drown you
bobs_monkey@lemm.ee 1 year ago
It’s a risk I’m willing to take.
HolidayGreed@sh.itjust.works 1 year ago
If I learned anything from the film Weird Science it’s that anything bigger than a handful of inflation, you’re risking a sprained tongue.