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Old 07-14-2018, 06:07 AM
 
1,063 posts, read 323,982 times
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$150 for two people to dine at a good quality establishment with 3 drinks each in the suburbs. 15 years ago it would be $75.

At regular inflation wouldn't that be a 30% change. Instead it's a 100% increase.

So if you had the same job getting only "merit" increases 2-3% Year over year you can no longer afford to eat here.
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Old 07-14-2018, 06:23 AM
 
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Actually, the numbers you cite show 4.73% annual inflation for prices at that restaurant.
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Old 07-14-2018, 09:23 AM
 
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Quote:
Originally Posted by TimAZ View Post
Actually, the numbers you cite show 4.73% annual inflation for prices at that restaurant.
I have a headache and evidently can't add or multiply right now .

On this note however what is the justification for outpacing the general inflation by almost double while food quality and restaurant employee wages remain stagnant?
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Old 07-14-2018, 09:33 AM
 
2,246 posts, read 1,390,219 times
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Quote:
Originally Posted by MechaMan View Post
I have a headache and evidently can't add or multiply right now .

On this note however what is the justification for outpacing the general inflation by almost double while food quality and restaurant employee wages remain stagnant?

You do realize thatís just one restaurant, right?

It could be as simple as the restaurant being super popular because it has good food and service and they simply rise prices to make more margin. If they only have so many tables and thereís still a line out the door, they can command higher prices.
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Old 07-14-2018, 09:36 AM
 
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What was the tab minus the six alcoholic beverages? It's common knowledge that's the biggest profit item.
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Old 07-15-2018, 11:23 AM
 
4,735 posts, read 2,263,083 times
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Quote:
Originally Posted by MechaMan View Post
15 years ago it would be $75.
Aside from the glaring errors in math and sample size, how exactly do you know what that would have cost 15 years ago? From your posting history you're in your 20s, I doubt you were taking dates out with drinks in the suburbs at age 10.
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Old 07-15-2018, 11:57 AM
 
1,063 posts, read 323,982 times
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Quote:
Originally Posted by lieqiang View Post
Aside from the glaring errors in math and sample size, how exactly do you know what that would have cost 15 years ago? From your posting history you're in your 20s, I doubt you were taking dates out with drinks in the suburbs at age 10.
I am mid 30's Mr wise guy...Way to get off topic
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Old 07-15-2018, 01:43 PM
 
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I'm not sure questions about the validity of your observations is off topic. Sounds like you're using fuzzy memory from age 20 to compare to 15 years later at one place, fudging the math, then drawing a poor conclusion about affordability.
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Old 07-15-2018, 08:13 PM
 
Location: Myrtle Creek, Oregon
11,060 posts, read 11,465,626 times
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Quote:
Originally Posted by MechaMan View Post
$150 for two people to dine at a good quality establishment with 3 drinks each in the suburbs. 15 years ago it would be $75.

At regular inflation wouldn't that be a 30% change. Instead it's a 100% increase.

So if you had the same job getting only "merit" increases 2-3% Year over year you can no longer afford to eat here.
Inflation is pretty regional. Nationwide, the inflation rate (CPI-W) in 2017 was 2.9%. In Portland, Oregon, it was 4.7%. If you narrow those prices to one restaurant, your numbers become irrelevant. For that matter, food is not included in the CPI-W, because food prices are volatile.
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Old 07-16-2018, 02:58 AM
 
64,675 posts, read 66,158,228 times
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Originally Posted by Larry Caldwell View Post
Inflation is pretty regional. Nationwide, the inflation rate (CPI-W) in 2017 was 2.9%. In Portland, Oregon, it was 4.7%. If you narrow those prices to one restaurant, your numbers become irrelevant. For that matter, food is not included in the CPI-W, because food prices are volatile.
nonsense!

that is false about the cpi-w . not only is food included but it gets a heavier weighting .
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The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), on the other hand, includes sales, craft, service or labor, and clerical workers who must have been employed for 37 weeks or more. It represents 32 per cent of the United States population and is a subset of the CPI-U. It traces how retail prices affect workers who are paid hourly and those that do clerical work. The Social Security Administration uses data from the CPI-U to decide its annual rate of increase.

The CPI-W gives more importance on everyday needs such as food and transportation expenses, clothes, and other goods and services. Housing, medical care, and recreation are given less importance in the CPI-W.


Read more: Difference Between CPI-U and CPI-W | Difference Between Difference Between CPI-U and CPI-W | Difference Between
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