Inflation and What To Do

[Nouseforaname]

Inflation 8.5 in July.  

Edited August 10, 2022 by Nouseforaname

[Ann]

35 minutes ago, Nouseforaname said:

Inflation 8.5 in July.  

Rate hike coming...

[Nouseforaname]

5 minutes ago, Ann said:

Rate hike coming...

The market priced in a 75 bp hike based on inflation having peaked.  The data today shows that it might just be the case but the market is looking for anything positive. 

[Ann]

Inflation hits Americans' grocery bills as food prices accelerate
Food prices surged 13.1% in July, highest since 1979

 

</snip>

 

Although the consumer price index, which measures a basket of everyday goods including food, rent and gasoline, came in cooler than expected at 8.5% in July, food prices accelerated further, the Labor Department reported on Wednesday. The food at home category, which tracks the cost of groceries, surged 13.1% over the last year, the most significant increase since March 1979. On a monthly basis, prices jumped 1.4%.

 

"Consumers are getting a break at the gas pump, but not at the grocery store," said Greg McBride, chief financial analyst at Bankrate.com. "Food prices, and especially costs for food at home, continue to soar, rising at the fastest pace in more than 43 years."

 

Americans are paying more at the grocery store for a number of items that have climbed considerably in price over the past year. That includes staples like eggs (38%), chicken (16.6%), milk (15.6%), potatoes (13.3%), rice (12.7%) and fresh fruits and vegetables (8.2%).

 

</snip>

[devnull]

[The_Dude]

Still only 21,000,000 BTC. More like only 17,000,000 BTC. And they can’t inflate. 

[Cinga]

On 8/12/2022 at 9:55 AM, Ann said:

Inflation hits Americans' grocery bills as food prices accelerate
Food prices surged 13.1% in July, highest since 1979

 

</snip>

 

Although the consumer price index, which measures a basket of everyday goods including food, rent and gasoline, came in cooler than expected at 8.5% in July, food prices accelerated further, the Labor Department reported on Wednesday. The food at home category, which tracks the cost of groceries, surged 13.1% over the last year, the most significant increase since March 1979. On a monthly basis, prices jumped 1.4%.

 

"Consumers are getting a break at the gas pump, but not at the grocery store," said Greg McBride, chief financial analyst at Bankrate.com. "Food prices, and especially costs for food at home, continue to soar, rising at the fastest pace in more than 43 years."

 

Americans are paying more at the grocery store for a number of items that have climbed considerably in price over the past year. That includes staples like eggs (38%), chicken (16.6%), milk (15.6%), potatoes (13.3%), rice (12.7%) and fresh fruits and vegetables (8.2%).

 

</snip>

 

I don't know where the hell their seeing that 13.1% or any of the other prices for groceries. I'm seeing, year over year, chicken up 25%, Beef up 50%, and pork is doubled. Canned goods that were 69 cents last year are now 1.09 or 1.19 for the off brands. Pasta isn't so much yet, about 30% along with produce, but this is the right time of year for produce so I think the fall we'll see a pretty big jump. Milk and eggs are about 50% higher, and have you bought a bag of frozen french fries lately? Your lucky to find the off brands, and the name brands are up easily 75%.

13.1 is a huge lie, and the worst part is that it is only going to get worse going in to next year due to crop and ranching/farm problems this year

[Nouseforaname]

12 hours ago, Cinga said:

 

I don't know where the hell their seeing that 13.1% or any of the other prices for groceries. I'm seeing, year over year, chicken up 25%, Beef up 50%, and pork is doubled. Canned goods that were 69 cents last year are now 1.09 or 1.19 for the off brands. Pasta isn't so much yet, about 30% along with produce, but this is the right time of year for produce so I think the fall we'll see a pretty big jump. Milk and eggs are about 50% higher, and have you bought a bag of frozen french fries lately? Your lucky to find the off brands, and the name brands are up easily 75%.

13.1 is a huge lie, and the worst part is that it is only going to get worse going in to next year due to crop and ranching/farm problems this year

Beef seems down from its highs according to the wsj.

 

Time to pull out a bottle of wine.

 

https://www.wsj.com/articles/your-steak-is-getting-cheaper-at-the-supermarket-11661160602

[Cinga]

2 hours ago, Nouseforaname said:

Beef seems down from its highs according to the wsj.

 

Time to pull out a bottle of wine.

 

https://www.wsj.com/articles/your-steak-is-getting-cheaper-at-the-supermarket-11661160602

 

I don't subscribe to WSJ but just the little I can see it says that "because of softened demand" prices are dropping. Sort of a no shit there  I think. As inflation increases people diet will change to suit what is left in their budget. Good thing I like hot dogs too but watch for prices to go up as demand spikes for this steak alternative.... 

[Nouseforaname]

12 minutes ago, Cinga said:

 

I don't subscribe to WSJ but just the little I can see it says that "because of softened demand" prices are dropping. Sort of a no shit there  I think. As inflation increases people diet will change to suit what is left in their budget. Good thing I like hot dogs too but watch for prices to go up as demand spikes for this steak alternative.... 

 

Softened demand and increased staffing at production plants.

 

Sounds like you’re telling me to put the bottle of wine away 😔

[Foxx]

6 hours ago, Cinga said:

 

I don't subscribe to WSJ but just the little I can see it says that "because of softened demand" prices are dropping. Sort of a no shit there  I think. As inflation increases people diet will change to suit what is left in their budget. Good thing I like hot dogs too but watch for prices to go up as demand spikes for this steak alternative.... 

Hot dogs are pricier than hamburger...

[Nouseforaname]

1 hour ago, Foxx said:

Hot dogs are pricier than hamburger...

Because they come from different animals.

[Foxx]

15 minutes ago, Nouseforaname said:

Because they come from different animals.

Did they used to come from the same animal when they were cheaper than hamburger?

[Nouseforaname]

11 minutes ago, Foxx said:

Did they used to come from the same animal when they were cheaper than hamburger?

No those animals were cheaper.

 

I was kidding by the way.

[Cinga]

2 hours ago, Foxx said:

Hot dogs are pricier than hamburger...

maybe at a fast food joint, but not at the grocer. Even a good brand like Sahlens, Ballpark, or Varsity are 4 or 5 bucks for a pack of 6 or 8. Even if you make your own a pound 80% beef will cost you that and get you half the number of burgers.

[Foxx]

36 minutes ago, Nouseforaname said:

No those animals were cheaper.

 

I was kidding by the way.

I know you were. Just razzin' back at cha.

 

[Foxx]

Just now, Cinga said:

maybe at a fast food joint, but not at the grocer. Even a good brand like Sahlens, Ballpark, or Varsity are 4 or 5 bucks for a pack of 6 or 8. Even if you make your own a pound 80% beef will cost you that and get you half the number of burgers.

Unit pricing. Zweigles are $6.99/lb. 80/20 Burger is $5.29/lb.

[Cinga]

10 minutes ago, Foxx said:

Unit pricing. Zweigles are $6.99/lb. 80/20 Burger is $5.29/lb.

Never heard of Zweigles so guess I'll need to educate myself but bottom line is everything is getting stupid expensive thanks to Papa Joe

[Foxx]

5 minutes ago, Cinga said:

Never heard of Zweigles so guess I'll need to educate myself but bottom line is everything is getting stupid expensive thanks to Papa Joe

Much like a Garbage Plate, they are born and bred in Rochester. An important food group. 😉

[devnull]

11 hours ago, Nouseforaname said:

Because they come from different animals.

 

different as in distinct animals

or different as in various animals

 

 

 

 

 

or both?