Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This is the worst example of inflation I have seen yet: Jumbo lump crab meat, 16 ounce can for $51! That was at Walmart yesterday. At least twice what it used to be.
But wait, inflation is only 3-4%. Or maybe they've raised it (in the news) to 7-8%. So we must just be imagining the 50-100% we're seeing in the stores... Whew, that's a relief!
But wait, inflation is only 3-4%. Or maybe they've raised it (in the news) to 7-8%. So we must just be imagining the 50-100% we're seeing in the stores... Whew, that's a relief!
Follow shadow stats which gives the 1980 equivalent of inflation.....topping 17% as of March
But wait, inflation is only 3-4%. Or maybe they've raised it (in the news) to 7-8%. So we must just be imagining the 50-100% we're seeing in the stores... Whew, that's a relief!
But wait, "BLS data collectors visit (in person or on the web) or call thousands of retail stores, service establishments, rental units, and doctors' offices, all over the United States to obtain information on the prices of the thousands of items used to track and measure price changes in the CPI. We record the prices of about 80,000 items each month, representing a scientifically selected sample of the prices paid by consumers for goods and services purchased."
So, yeah, out of 80,000 items, I'm sure that you'll run across a couple that have risen 50% or more.
Are you seriously suggesting that your incredibly small sample size is a more valid representation of inflation than thousands of people recording 80,000 items each month?
I'm not seeing 3% inflation; I'm seeing about 50% on average. Certain items (the aforementioned crab meat and real estate) have increased 100%. I've heard others say the same. But I concede that's anecdotal and not "scientific." I just don't necessarily "follow the science" (or the MSM) in this case.
The inflation doesn't affect you if you just don't buy it. Sure lots of things have gone up that we need to buy, but very little we have to buy. If I look for things that have gone through the roof, I'm sure I can find them; but, I can also find things that haven't gone up that much.
__________________ ____________________________________________
My posts as a Mod will always be in red.
Be sure to review Terms of Service: TOS
And check this out: FAQ
Moderator: Relationships Forum / Hawaii Forum / Dogs / Pets / Current Events
This is the worst example of inflation I have seen yet: Jumbo lump crab meat, 16 ounce can for $51! That was at Walmart yesterday. At least twice what it used to be. I tried to include a picture, but it was too big to be uploaded and I don’t know how to manually make it smaller. I couldn’t believe it when I saw that price tag!
I suspect we all know about price elasticity. Especially those of us who have a business degree...
If there is any product that one would think is price elastic, it would be Jumbo lump crab meat, because such a product is so easy to stop buying if/when the price point gets beyond acceptable. On the other hand, most people who tend to buy Jumbo lump crab meat are probably more wealthy and not as concerned about the price of what they like to buy. Even pricier than regular crab meat.
The inflation doesn't affect you if you just don't buy it. Sure lots of things have gone up that we need to buy, but very little we have to buy. If I look for things that have gone through the roof, I'm sure I can find them; but, I can also find things that haven't gone up that much.
What has not gone up that much? Well, primers have come down some but most folks do not buy primers.
But wait, "BLS data collectors visit (in person or on the web) or call thousands of retail stores, service establishments, rental units, and doctors' offices, all over the United States to obtain information on the prices of the thousands of items used to track and measure price changes in the CPI. We record the prices of about 80,000 items each month, representing a scientifically selected sample of the prices paid by consumers for goods and services purchased."
So, yeah, out of 80,000 items, I'm sure that you'll run across a couple that have risen 50% or more.
Are you seriously suggesting that your incredibly small sample size is a more valid representation of inflation than thousands of people recording 80,000 items each month?
The BLS changes the "basket of goods" it uses to gauge inflation.
They might replace steak with tofu to bring down the number.
Shadowstats calculates inflation using both 1980 and 1990 algorithms. I posted a link above.
The BLS changes the "basket of goods" it uses to gauge inflation.
They might replace steak with tofu to bring down the number.
Shadowstats calculates inflation using both 1980 and 1990 algorithms. I posted a link above.
They use actual items bought by people who keep diaries... or something like that.
__________________ ____________________________________________
My posts as a Mod will always be in red.
Be sure to review Terms of Service: TOS
And check this out: FAQ
Moderator: Relationships Forum / Hawaii Forum / Dogs / Pets / Current Events
https://www.bls.gov/cpi/overview.htm
Prices for the goods and services used to calculate the CPI are collected in 75 urban areas throughout the country and from about 23,000 retail and service establishments. Data on rents are collected from about 50,000 landlords or tenants.
Items for sampling at each outlet are selected randomly based on odds proportional to how much spending they attract relative to category alternatives in terms of brand, variety and size or weight. Items remain in the sample for four years.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
