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Wingstop reported great earnings as price of wings are way down.
Wings was low man on the totem pole,if you cant afford white meat or drumstick,you eat wings.
Until wings become HOT,as a snack,then wings cost more than drumstick.
so price of wings are way down,does it mean inflation is under control?
Comments please!
( as a college student living on very little,my room mate and I always buy wings ,as we cant afford white meat)
By your own admission you're talking about Demand-pull Inflation. There are only 3 ways to stop Demand-pull Inflation:
1) Stop consuming like the Borg
2) Seek substitutes, you know, like drumsticks
3) Increase Supply, you know, start your own chicken ranch and produce more wings
Notice none of those 3 actions involve Congress or the Federal Reserve. It's all you, baby.
I see wings are coming down,I interpret this as consumers cutting back on luxury like eating wings and watch football game in taverns!
No different than price of snow crabs and lobster coming down in price.
This week a 10 pound bag of frozen wings is on sale for $18.95 at the restaurant supply store. So, at least for special sales, the rice of wings is down for restaurants. I'm not seeing the price lowered at the grocery store.
With inflation and still some Covid restrictions, fewer people are eating out. Or they have reduced the number of times they eat out, or they reduce costs by giving up the appetizer. That is probably reducing the demand for wings at restaurants. When demand goes down, the price goes down.
Yet many restaurants are still charging the higher pandemic price. I think the retailers are trying to squeeze as much profit out of the wing market as possible.
I believe this to be the most correct answer. A whole chicken has two price points of value, the wings and the breast. They can charge a pretty high retail amount and people will still purchase (health conscious and preferred texture over thigh meat). The thigh and leg is practically given away in a sense.
I've gotten some massive drumsticks from my local grocery store, but I would say I've ended up with some of the smallest wings I've ever seen.
I see wings are coming down,I interpret this as consumers cutting back on luxury like eating wings and watch football game in taverns!
No different than price of snow crabs and lobster coming down in price.
Aviana flu killed millions of chickens …eggs were effect most but so was the price of chickens .
We have been replacing more and more chickens bringing down prices
Location: East of Seattle since 1992, originally from SF Bay Area
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Just last night I took a look at the chicken wings at our local supermarket. At $4.89/lb it was over $21 for a package of about 4 pounds. Meanwhile nearby they had chicken breasts or thighs for only $2.77/lb., and pork spare ribs at only $2.49/lb. I suspect that much of it is the popularity of chicken wings, especially as we approach Super Bowl Sunday.
inflation is coming down because the price of homes and cars are coming down, which means most Americans net worth is dropping while the cost of weekly purchases remain high.
inflation is coming down because the price of homes and cars are coming down, which means most Americans net worth is dropping while the cost of weekly purchases remain high.
You just explained that the prices of those assets are dropping, which means they weren't worth that much to begin with, or that their price was inflated. If I buy a share for 100$ and it goes up to 1000$, but I don't cash it, I cannot complain that it 'lost its value' once it gets back down to 100$ (where it probably belongs).
We like to anchor ourselves to something that works for us. Some want ZIRP, pretending that it is the 'norm'. Well, guess what, the IR wasn't always zero. Some want RE or stock to go back to 'good old days' because it works for them.
Net worth is not some stable, guaranteed thing.
If wishes were horses...
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