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View Poll Results: How are you changing your spending in light of skyrocketing commodity prices?
Not changing any consumption patterns, shrug my shoulders and paying higher prices! 10 30.30%
Switching to lower cost brands for the same product 9 27.27%
Reducing my consumption of the product 13 39.39%
Making an EXTRA effort to find the lowest prices 11 33.33%
Dropping some products entirely and using cheaper alternatives 10 30.30%
Multiple Choice Poll. Voters: 33. You may not vote on this poll

 
 
Old 06-11-2011, 01:35 PM
 
Location: Olympus Mons, Mars
6,028 posts, read 8,936,075 times
Reputation: 6290

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As we all know the price of commodities is skyrocketing while real wages are falling. Products in the supermarkets are rising in prices or the quantity in the packages is being reduced. How are you responding to this?
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Old 06-11-2011, 02:22 PM
 
Location: The Triad (NC)
29,731 posts, read 64,813,444 times
Reputation: 34642
Quote:
Originally Posted by k374 View Post
As we all know ...
We do?

I used to have a lawyer who liked to start every letter with "As you know,...".
Used to have.
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Old 06-11-2011, 02:32 PM
 
75,899 posts, read 75,328,910 times
Reputation: 53201
i merely pulled it out of my investments which went up enough over the same time frame to cover 100x that increase since energy and food took off..

not sure what tomorrow brings but ill bet if the markets get pounded again deflation and not inflation may be the problem.
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Old 06-11-2011, 06:37 PM
 
Location: In America's Heartland
929 posts, read 1,906,504 times
Reputation: 1177
You should have a budget and you should stick to it. You use your noodle and make tough choices. Many times the choice is to live without. You need to make constant adjustments in your consumer choices. These might not be the choices you used to make or want to make, but you have to make budget, so you do whatever you need to do. It could be buying a cheaper alternative product, taking the bus, or cutting out something elsewhere in your budget. You just need to make smart decisions to get by... This is something that congress just can't grasp.
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Old 06-11-2011, 07:41 PM
 
Location: Great State of Texas
86,068 posts, read 74,096,007 times
Reputation: 27599
I switched to store brands to keep within my budget.
I also do less driving to conserve gas.

So far so good..still within my budget.
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Old 06-12-2011, 02:20 AM
 
1,410 posts, read 1,857,693 times
Reputation: 1162
"Use it up,
Wear it out,
Make it do,
Or do without."
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Old 06-12-2011, 09:57 AM
 
Location: Los Angeles area
14,017 posts, read 18,199,765 times
Reputation: 32371
Quote:
Originally Posted by k374 View Post
As we all know the price of commodities is skyrocketing...
Yes, certain prices have been rising in the last six months or so. But why do you say they are "skyrocketing"? The only skyrocketing price I have seen is for gasoline, which is always volatile (and we should be used to that) and which is starting to come back down anyway. Why the hyperbole?
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Old 06-12-2011, 10:08 AM
 
75,899 posts, read 75,328,910 times
Reputation: 53201
many commodities have gone up over the last year or so drastically.

but because typically commodity prices account for only a small part of the prices of finished goods we have not seen more than a 5-10% increase on a retail level so far in many products.

the price of wheat is only 10% of the total price of a lof of bread. a 100 dollar pair of jeans may have 5% or so of that price linked to cotton.
overall considering the gains in key products inflation is very tame.

for 2010 some of the most popular were


Cotton: +85%
Silver : +83%
Coffee: +67%
Sugar: +53%
Corn: +39%
Soybean Oil: +36%
Copper: +32%
Wheat: +29%
Soybean Meal: 28%
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Old 06-12-2011, 10:17 AM
 
Location: Los Angeles area
14,017 posts, read 18,199,765 times
Reputation: 32371
Quote:
Originally Posted by mathjak107 View Post
most commodities have gone up over the last year or so drastically.

but because typically commodity prices account for only a small part of the prices of finished goods we have not seen more than a 5-10% increase on a retail level so far in many products.

the price of wheat is only 10% of the total price of a lof of bread. a 100 dollar pair of jeans may have 5% or so of that price linked to cotton.
overall considering the gains in key products inflation is very tame for 2010.
O.K., that makes sense, and I've read that before, come to think of it, perhpas even from you. Thanks
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Old 06-12-2011, 10:21 AM
 
75,899 posts, read 75,328,910 times
Reputation: 53201
if all the other costs especially from labor werent holding the line i think we would have been clobbered....

now we have the cost of transportation getting higher in that mix.
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