PoorPigg
Curly-tailed
Hey, I drove I95 and stopped for a "rest"and coffee at the higher-priced FF. I was making no where $250K.
Inflation Thread
- Thread starter m00m00m00
- Start date
-Troopa-
No Longer a Noob
- Jul 7, 2019
- 8,081
- 9,097
Were you closer to $500k?
DevilDancer
Not the boss
Oh, I used to have family in Darian.
They're MAGAts now.
They're MAGAts now.
PoorPigg
Curly-tailed
Rent of primary residence for all U.S. urban consumers rose 6.5 percent from December 2022 to December 2023, with the increases in Miami-Fort Lauderdale-West Palm Beach, Florida (10.1 percent), and Urban Hawaii (9.8 percent) among the largest. https://www.bls.gov/opub/ted/2024/r...percent-over-the-year-ended-december-2023.htm
Food at home up 1.2%, food away from home up 5.1%
In January, the Consumer Price Index for All Urban Consumers increased 0.3 percent, seasonally adjusted, and rose 3.1 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in January (SA); up 3.9 percent over the year (NSA).https://www.bls.gov/cpi/
February 2024 CPI data are scheduled to be released on March 12, 2024, at 8:30 A.M. Eastern Time.
Food at home up 1.2%, food away from home up 5.1%
In January, the Consumer Price Index for All Urban Consumers increased 0.3 percent, seasonally adjusted, and rose 3.1 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in January (SA); up 3.9 percent over the year (NSA).https://www.bls.gov/cpi/
February 2024 CPI data are scheduled to be released on March 12, 2024, at 8:30 A.M. Eastern Time.
PoorPigg
Curly-tailed
CBO Ten-Year Outlook for Budget and the Economy https://www.cbo.gov/topics/budget/outlook-budget-and-economy
illow report on singles tax. https://zillow.mediaroom.com/2024-02-12-Renting-alone-The-singles-tax-now-exceeds-7,000
Paul Krugman on the economy. https://www.alternet.org/trumpnato2667279130/utm_source=flipboard&utm_content=AlterNetMedia/magazine/TOP+STORIES
Argentina inflation Source
and impact on soup kitchens Source
illow report on singles tax. https://zillow.mediaroom.com/2024-02-12-Renting-alone-The-singles-tax-now-exceeds-7,000
Paul Krugman on the economy. https://www.alternet.org/trumpnato2667279130/utm_source=flipboard&utm_content=AlterNetMedia/magazine/TOP+STORIES
Argentina inflation Source
and impact on soup kitchens Source
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PoorPigg
Curly-tailed
Inflation "tax" taking more wages now https://dailycaller.com/2024/02/14/inflation-tax-eating-americans-wages-biden/
supersaiyenl4goku
Tyresian
- Nov 9, 2002
- 4,744
- 365
That likely means the real food restaurants haven’t got up and will have an even bigger jump later.
That really added to the shock of inflation where I live. Some of the best restaurants kept the same prices for over 10 years. And then just about doubled prices the past couple years.
Funny enough there is a Thai place that takes a summer break every year and when they come back they raise prices every other year on most items by a dollar or so and that’s been going on for years.
That really added to the shock of inflation where I live. Some of the best restaurants kept the same prices for over 10 years. And then just about doubled prices the past couple years.
Funny enough there is a Thai place that takes a summer break every year and when they come back they raise prices every other year on most items by a dollar or so and that’s been going on for years.
gsilver
Star
- Sep 6, 2000
- 29,727
- 10,254
When the pandemic hit, I lost my job and had to move. About a year and a half later, I got a job that allowed me to move back. There was a restaurant that I really liked and at the time I got back, the menu prices were exactly the same as when I left. Within a month or two, they doubled.
So weird to see prices double almost instantly like that.
PoorPigg
Curly-tailed
" The German government expects the economy to grow 0.2% this year, far less than a previously forecast 1.3%, as weak global demand, geopolitical uncertainty and persistently high inflation dent hopes for a swift rebound.
Europe's largest economy shrank by 0.3% in 2023, making it the world's worst performing major economy, and it is broadly expected to enter another technical recession in the first quarter of this year." Source
Europe's largest economy shrank by 0.3% in 2023, making it the world's worst performing major economy, and it is broadly expected to enter another technical recession in the first quarter of this year." Source
PoorPigg
Curly-tailed
Kellogg CEO, "Cereal for dinner." How to beat inflation. https://www.cbsnews.com/news/kellog...pilnick-rising-food-groceries-cost-reactions/
PoorPigg
Curly-tailed
A measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services. The PCE price index is known for capturing inflation (or deflation) across a wide range of consumer expenses and reflecting changes in consumer behavior.
PCE Index https://www.bea.gov/news/2024/personal-income-and-outlays-january-2024
Personal income increased $233.7 billion (1.0 percent at a monthly rate) in January, according to estimates released today by the Bureau of Economic Analysis (tables 2 and 3). Disposable personal income (DPI), personal income less personal current taxes, increased $67.6 billion (0.3 percent) and personal consumption expenditures (PCE) increased $43.9 billion (0.2 percent).
The PCE price index increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.4 percent (table 5). Real DPI decreased less than 0.1 percent in January and real PCE decreased 0.1 percent; goods decreased 1.1 percent and services increased 0.4 percent (tables 3 and 4).
PCE Index https://www.bea.gov/news/2024/personal-income-and-outlays-january-2024
Personal income increased $233.7 billion (1.0 percent at a monthly rate) in January, according to estimates released today by the Bureau of Economic Analysis (tables 2 and 3). Disposable personal income (DPI), personal income less personal current taxes, increased $67.6 billion (0.3 percent) and personal consumption expenditures (PCE) increased $43.9 billion (0.2 percent).
The PCE price index increased 0.3 percent. Excluding food and energy, the PCE price index increased 0.4 percent (table 5). Real DPI decreased less than 0.1 percent in January and real PCE decreased 0.1 percent; goods decreased 1.1 percent and services increased 0.4 percent (tables 3 and 4).
gsilver
Star
- Sep 6, 2000
- 29,727
- 10,254
Kelloggs is one of the most hypocritical companies to suggest eating cereal to 'beat inflation'
Recently, Corn Flakes have been hitting $0.55 an ounce, or nearly $9 a pound, and that's as expensive, if not more, than a lot of cuts of meat.
Their more gimmicky cereals have been nearly $1.20 an ounce, or over $19 a pound. That's firmly in 'pretty good' steak territory. Or at least they were in September. I'll take a look next time I go to the store, but I wouldn't be surprised if it's even worse now.
Checked.
Current prices:
Kellogs Corn Flakes, $8.60 a pound
Bone-in strip steak, $7 a pound
You can save money by switching from corn flakes to steak.
The Special K Zero Cinnamon still has a 'regular price' of $19 a pound, but is currently 'on sale' for a mere $15.21 a pound.
Recently, Corn Flakes have been hitting $0.55 an ounce, or nearly $9 a pound, and that's as expensive, if not more, than a lot of cuts of meat.
Their more gimmicky cereals have been nearly $1.20 an ounce, or over $19 a pound. That's firmly in 'pretty good' steak territory. Or at least they were in September. I'll take a look next time I go to the store, but I wouldn't be surprised if it's even worse now.
Checked.
Current prices:
Kellogs Corn Flakes, $8.60 a pound
Bone-in strip steak, $7 a pound
You can save money by switching from corn flakes to steak.
The Special K Zero Cinnamon still has a 'regular price' of $19 a pound, but is currently 'on sale' for a mere $15.21 a pound.
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- Nov 19, 2000
- 50,937
- 14,146
I keep an eye on this thread because all the news baffles me. We hear things like real wage increases are positive and inflation is lessoning but then I also see stories like this...
Credit scores decrease for the first time in a decade as more borrowers fall behind on payments
The national average credit score slipped for the first time in a decade, driven by increases in missed borrower payments, according to FICO.
www.cnbc.com
With this just stated as a matter of fact...
I know there is no real way to know this as articles and news cycles will paint whatever picture they want focusing on cherry picked stats, but I'm more interested in the personal experiences of people here?
Have you had to cut back on things or are you largely unaffected?
Have your wages increased to match the rising prices?
Have you spending habits been affected by the last 2 or 3 years?
How do you feel financially compared to a few years ago? Better off or worse off?
I don't have a good sense of it myself because my kids are basically teenagers now and both have braces. Thing aren't exactly apples to apples for me vs a few years ago. Ha ha.
-Troopa-
No Longer a Noob
- Jul 7, 2019
- 8,081
- 9,097
I suppose, like most things, inflation has mostly hurt the poor/middle-class, and helped the rich(er) classes.
I've been largely unaffected in terms of my lifestyle. I've been tracking my annual expenses, and they haven't changed too much since 2017, which is when we moved to a new house. We fall within the same range (+/- $10k) each year.
From the last time (Oct '23) I tallied it up:
We don't eat out as much as we used to. Not because of the costs, but because of quality. My wife and I feel like restaurants just aren't as good as they used to be, in terms of food and service, and now that they're more expensive it's especially not worth it. Something we've started doing recently is having fresh meals prepared by a local chef and nutritionist service, and they are delivered to us every week. This has a similar cost to eating out. That takes care of 4-5 meals. The rest we handle ourselves. It's healthier and we enjoy it more.
The biggest change to our spending habits is less international travel. This was because of COVID, not inflation. We went to Mexico a while back. My first time out of the country since 2019 or so. But we've made up for it by traveling more within the US.
Financially speaking, every year has been better than the last for me, and that's because so much of my net worth is invested in the markets. Stocks are breaking records, though at the same time these companies are announcing layoffs.
I've been largely unaffected in terms of my lifestyle. I've been tracking my annual expenses, and they haven't changed too much since 2017, which is when we moved to a new house. We fall within the same range (+/- $10k) each year.
From the last time (Oct '23) I tallied it up:
We don't eat out as much as we used to. Not because of the costs, but because of quality. My wife and I feel like restaurants just aren't as good as they used to be, in terms of food and service, and now that they're more expensive it's especially not worth it. Something we've started doing recently is having fresh meals prepared by a local chef and nutritionist service, and they are delivered to us every week. This has a similar cost to eating out. That takes care of 4-5 meals. The rest we handle ourselves. It's healthier and we enjoy it more.
The biggest change to our spending habits is less international travel. This was because of COVID, not inflation. We went to Mexico a while back. My first time out of the country since 2019 or so. But we've made up for it by traveling more within the US.
Financially speaking, every year has been better than the last for me, and that's because so much of my net worth is invested in the markets. Stocks are breaking records, though at the same time these companies are announcing layoffs.
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PoorPigg
Curly-tailed
"The US national debt is now growing by $1 trillion every 100 days since 2023. The uncontrolled debt could lead to a financial disaster wreaking havoc not only in the US but across the world. BRICS and other developing countries are worried that a US dollar debt could make their native economies crash. Keeping the US dollar in reserves is now seen as a threat that could undo years of financial stability.'' Source
" The chair of the Federal Reserve said it was likely to make “broad and material changes” to proposals to rewrite banks’ capital rules, as Republicans called for the existing interpretation of the so-called Basel III endgame package to be scrapped." Source: Financial Times 6 March 2024
Jerome Powell's remarks today
" The chair of the Federal Reserve said it was likely to make “broad and material changes” to proposals to rewrite banks’ capital rules, as Republicans called for the existing interpretation of the so-called Basel III endgame package to be scrapped." Source: Financial Times 6 March 2024
Jerome Powell's remarks today
PoorPigg
Curly-tailed
Unemployment insurance claims https://www.dol.gov/ui/data.pdf
"Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rate
increased to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains
occurred in health care, in government, in food services and drinking places, in social
assistance, and in transportation and warehousing." Employment Situation Summary
"Total nonfarm payroll employment rose by 275,000 in February, and the unemployment rate
increased to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains
occurred in health care, in government, in food services and drinking places, in social
assistance, and in transportation and warehousing." Employment Situation Summary
PoorPigg
Curly-tailed
"In February, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 3.2 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in February (SA); up 3.8 percent over the year (NSA)."
www.bls.gov
"In January 2023, BLS refined the weighting method for OER in the CPI. Unit-level weights for OER are now adjusted to account for structure-type, that is, the proportion of owned homes that are single-family detached compared with non-detached housing units (such as townhouses and condos). See OER Unit Weight Refinement. BLS calculates the detached versus non-detached proportions based on American Community Survey (ACS) data. These data are updated annually effective with the January index. The new method better reflects rental markets across the nation, but it may introduce monthly variability in the unit-level weights. In January 2024, the proportion of OER weighted toward single-family-detached homes increased by approximately 5 percentage points."Rent and owners equivalent. Source
March 2024 CPI data are scheduled to be released on April 10, 2024, at 8:30 A.M. Eastern Time.
CPI Home
www.bls.gov
"In January 2023, BLS refined the weighting method for OER in the CPI. Unit-level weights for OER are now adjusted to account for structure-type, that is, the proportion of owned homes that are single-family detached compared with non-detached housing units (such as townhouses and condos). See OER Unit Weight Refinement. BLS calculates the detached versus non-detached proportions based on American Community Survey (ACS) data. These data are updated annually effective with the January index. The new method better reflects rental markets across the nation, but it may introduce monthly variability in the unit-level weights. In January 2024, the proportion of OER weighted toward single-family-detached homes increased by approximately 5 percentage points."Rent and owners equivalent. Source
March 2024 CPI data are scheduled to be released on April 10, 2024, at 8:30 A.M. Eastern Time.
PoorPigg
Curly-tailed
I've never felt like I've had to tightly watch all my costs, but looking at my mortgage, credit card bill, and my gas bill since that covers almost all of my expenses and they're easily lookup-able, that total group has gone up 31% comparing 2021 to 2023. That's with leaving out some of the bigger things that have hit over the past couple years like new AC and new roof. Mortgage (property taxes and insurance really) has gone up 31%, gas bill has gone up 58%, ouch, and credit card yearly spend went up 30%. Credit card captures all bills except mortgage and gas, and then all shopping, food, travel, entertainment etc. since I basically never pay with cash or debit since 2020.
Honestly that's more than I was expecting, it hasn't felt quite that bad. Thankfully my salary has increased almost 60% in the last 3 years which is also surprisingly more than I would have guessed before checking the numbers. Yearly raises haven't kept up but in the past couple years I got a promotion and changed companies about 6 months ago. I got an average raise of 3% a year, a promotion that came with a 9.8% raise, and then the new job gave me a 23% raise, without factoring in my health/dental/vision insurance getting cheaper too. So obviously based off the new job especially I feel like I'm better off now than I was a couple years ago and I'm thankful I haven't had to really adjust my spending habits much. But I've also always been able to keep my spending down in general and not seen a creeping increase in spending as my salary has increased.
PoorPigg
Curly-tailed
Morgan Stanley view of election year jitters:
PoorPigg
Curly-tailed
"In March, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 3.5 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in March (SA); up 3.8 percent over the year " BLS
April 2024 CPI data are scheduled to be released on May 15, 2024, at 8:30 A.M. Eastern Time.
AND five market reactions to inflation
https://www.wsj.com/livecoverage/cp...pi-report-in-five-charts-yEYy58dmu9SZbtYkMMYN
April 2024 CPI data are scheduled to be released on May 15, 2024, at 8:30 A.M. Eastern Time.
AND five market reactions to inflation
https://www.wsj.com/livecoverage/cp...pi-report-in-five-charts-yEYy58dmu9SZbtYkMMYN
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PoorPigg
Curly-tailed
Gas price exceeds minimum wage, Menlo, California..
PoorPigg
Curly-tailed
"In recent months, there has been a lack of further progress toward the Committee’s 2 percent inflation objective."
SageLeaf
Almost Not a Noob
- Nov 15, 2023
- 613
- 608
Min wage is $16 in California
PoorPigg
Curly-tailed
The fill er up exceeds $50.
SageLeaf
Almost Not a Noob
- Nov 15, 2023
- 613
- 608
I don’t remember a time when I could fill er up for 1 hour of min wage work in California? Maybe your generation of workers but not in the millennial generation
-Troopa-
No Longer a Noob
- Jul 7, 2019
- 8,081
- 9,097
Hmm yeah, not sure about California but looking at the US as a whole it seems $4.55 was the minimum wage in 1992, and the average gas price was around $1.10/gallon. For one hour of work, you'd get 4 gallons.
I picked 1992 because I was 8 years old and remember gas being under $1 at times.
It appears the 90s had cheap gas, historically speaking.
SageLeaf
Almost Not a Noob
- Nov 15, 2023
- 613
- 608
Here I was curious so I made you a quick graph.
The data came from these two sources.
State Minimum Wage Rate for California
Graph and download economic data for State Minimum Wage Rate for California (STTMINWGCA) from 1968 to 2024 about minimum wage, wages, CA, rate, and USA.
fred.stlouisfed.org
I just averaged the gas price per year, and divided that by the min wage each year to get the percentages.
AvocadoGenesis
I'm a G...CB President
- Dec 17, 2002
- 55,677
- 15,605
wait youre telling me someone came on the internet and LIED
SageLeaf
Almost Not a Noob
- Nov 15, 2023
- 613
- 608
-Troopa-
No Longer a Noob
- Jul 7, 2019
- 8,081
- 9,097
Oh yeah, I’ve watched this one before. Probably one of the most educational videos I’ve seen tbh.
PoorPigg
Curly-tailed
16 x 8 = 128 min wage per day 128 x 5 = 640 min wage per week
7.25 x 11 = 79.75 price per gal times 11 gal tank in 2012 Toyota Scion.
"In April, the Consumer Price Index for All Urban Consumers increased 0.3 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.3 percent in April (SA); up 3.6 percent over the year (NSA)." Source
May 2024 CPI data are scheduled to be released on June 12, 2024, at 8:30 A.M. Eastern Time.
7.25 x 11 = 79.75 price per gal times 11 gal tank in 2012 Toyota Scion.
"In April, the Consumer Price Index for All Urban Consumers increased 0.3 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.3 percent in April (SA); up 3.6 percent over the year (NSA)." Source
May 2024 CPI data are scheduled to be released on June 12, 2024, at 8:30 A.M. Eastern Time.
-Troopa-
No Longer a Noob
- Jul 7, 2019
- 8,081
- 9,097
supersaiyenl4goku
Tyresian
- Nov 9, 2002
- 4,744
- 365
I remember making $5.25 and paying over $4 a gallon in 2005 just so I could drive to work and back.
Pretty fricken pointless with a crappy fuel inefficient car that needed repairs. I cannot find any data to support this but it was in Wisconsin and I know at the time we had some of the highest gas taxes in the country, besides the Iraq war going on.
Also, my homeowners insurance renewal with Farmers, in Wisconsin, just nearly doubled compared to last year, now about $1200. We are 7 years into a new build (not custom, was already built when we bought) and we’ve never had a claim.
Pretty fricken pointless with a crappy fuel inefficient car that needed repairs. I cannot find any data to support this but it was in Wisconsin and I know at the time we had some of the highest gas taxes in the country, besides the Iraq war going on.
Also, my homeowners insurance renewal with Farmers, in Wisconsin, just nearly doubled compared to last year, now about $1200. We are 7 years into a new build (not custom, was already built when we bought) and we’ve never had a claim.
PoorPigg
Curly-tailed
$11.46 in us dollars is spendy.
gsilver
Star
- Sep 6, 2000
- 29,727
- 10,254
Had a very nice soup in a pretty good restaurant for $11, only a couple of dollars more than a 'meal' at Wendy's.
...They do kind of expect people to order extras like the $7 bread, $10+ drinks, and $20+ entrees, but the soup by itself is enough calories for a meal, and I ain't rich.
//Hopes my waiter doesn't think I'm a cheapskate.
...They do kind of expect people to order extras like the $7 bread, $10+ drinks, and $20+ entrees, but the soup by itself is enough calories for a meal, and I ain't rich.
//Hopes my waiter doesn't think I'm a cheapskate.
PoorPigg
Curly-tailed
$3.99 gal the other day.
Gas prices coming down but home prices are still extremely high.
gsilver
Star
- Sep 6, 2000
- 29,727
- 10,254
Made it to a dessert cafe that I used to live near.
...Their sandwiches are literally double what they were last year, and $5 more than two weeks ago.
I felt that their original prices were pretty low for the quality, but getting lunch if I'm in the area now isn't the no-brainer that it used to be.
...Their sandwiches are literally double what they were last year, and $5 more than two weeks ago.
I felt that their original prices were pretty low for the quality, but getting lunch if I'm in the area now isn't the no-brainer that it used to be.
PoorPigg
Curly-tailed
"In May, the Consumer Price Index for All Urban Consumers was unchanged, seasonally adjusted, and rose 3.3 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.2 percent in May (SA); up 3.4 percent over the year".
June 2024 CPI data are scheduled to be released on July 11, 2024, at 8:30 A.M. Eastern Time.https://www.bls.gov/cpi/
Table not seasonably adjusted.
June 2024 CPI data are scheduled to be released on July 11, 2024, at 8:30 A.M. Eastern Time.https://www.bls.gov/cpi/
Table not seasonably adjusted.
DevilDancer
Not the boss
I went to Aldi last week and the prices were the same as Safeway before covid. It was wonderful.
OneBigClam
Jes' fine
1933 $10 Indian Gold Eagle NGC MS65
Features of the 1933 $10 Indian Gold Eagle NGC MS65:Minted in the year 1933US - Philadelphia MintMS65 Graded by NGCNGC Population: 3 only 1 higherA $10 1933 Indian Head Gold Eagle graded MS65 by NGC (Numismatic Guaranty Corporation) is a highly sought-after and valuable numismatic specimen. The...
www.usgoldbureau.com
PoorPigg
Curly-tailed
PoorPigg
Curly-tailed
gsilver
Star
- Sep 6, 2000
- 29,727
- 10,254
I dunno. Prices are so high that interest rates don't even matter.
Though they do indirectly increase rents, because landlords (who are of course locked into low rates) use them to just destroy tenants in rent increases, because where else are they going to go when every other landlord is doing it?
Even renting a room means subsidizing a landlord who's probably getting 200% of their mortgage every month for sitting on their ass (not doing required maintenance) every month.
//Curses their landlord for not fixing things. I've had flooding and other issues due to pipe failure, multiple months without AC in the peak of summer (and it easily gets to be 100+ here) last year, and things that just annoy me like paint that hasn't been redone in like 30 years. All stuff that I'd fix immediately if I owned the place, but I sure don't feel like giving someone who is financially ruining me expensive 'gifts'
Though they do indirectly increase rents, because landlords (who are of course locked into low rates) use them to just destroy tenants in rent increases, because where else are they going to go when every other landlord is doing it?
Even renting a room means subsidizing a landlord who's probably getting 200% of their mortgage every month for sitting on their ass (not doing required maintenance) every month.
//Curses their landlord for not fixing things. I've had flooding and other issues due to pipe failure, multiple months without AC in the peak of summer (and it easily gets to be 100+ here) last year, and things that just annoy me like paint that hasn't been redone in like 30 years. All stuff that I'd fix immediately if I owned the place, but I sure don't feel like giving someone who is financially ruining me expensive 'gifts'
OneBigClam
Jes' fine
Don't you have laws regarding minimum standards landlords are required to maintain?
gsilver
Star
- Sep 6, 2000
- 29,727
- 10,254
I think so, but they're lax enough that I don't think that anything I described runs afowl of them.
Stuff like AC is still considered a luxury item and not required at all.
Something better would be way into the $2000+ range in this supposedly "low cost of living" area.
Stuff like AC is still considered a luxury item and not required at all.
Something better would be way into the $2000+ range in this supposedly "low cost of living" area.