Consumer prices increase 2.6 percent
1–10 of 195 posts
Re: Consumer prices increase 2.6 percent
#2Well, they finally got what they wanted. Inflation, more inflation!
Re: Consumer prices increase 2.6 percent
#3Anyone who has been to a supermarket in the last 12 months knows that the 2.6 percent increase in consumer prices is observably not true. I buy the same basket of the generic products ( chicken quarters, produce, beef, eggs, bacon, dairy products ) . Compared to this time in 2020 I'm spending at least 20% more. People who buy processed food(s) are spending at least 30% more.
Re: Consumer prices increase 2.6 percent
#4Well, they finally got what they wanted. Inflation, more inflation!
I think what they wanted is for the economy to not implode, with millions of people either dead to the virus, or newly homeless because they are broke.
Re: Consumer prices increase 2.6 percent
#5Anyone who has been to a supermarket in the last 12 months knows that the 2.6 percent increase in consumer prices is observably not true. I buy the same basket of the generic products ( chicken quarters, produce, beef, eggs, bacon, dairy products ) . Compared to this time in 2020 I'm spending at least 20% more. People who buy processed food(s) are spending at least 30% more.
Somehow everyone seems has this experience, rents have continued to climb at a high rate for the last decade, and they manage to downplay this in statistics.
Re: Consumer prices increase 2.6 percent
#6Anyone who has been to a supermarket in the last 12 months knows that the 2.6 percent increase in consumer prices is observably not true. I buy the same basket of the generic products ( chicken quarters, produce, beef, eggs, bacon, dairy products ) . Compared to this time in 2020 I'm spending at least 20% more. People who buy processed food(s) are spending at least 30% more.
Good thing CPI isn’t calculated using anecdotal evidence from “anyone who has been to the supermarket”.
Learn more about the calculation here: https://www.bls.gov/news.release/archives/cpi_04132021.htm
Re: Consumer prices increase 2.6 percent
#7Some non-CPI items like cars (new and used) and basic commodities like lumber have grown a lot more than 2.6%.
Correction: CPI does include new and used car prices, after a lot of adjustments, at 3.7% and 2.5%, respectively. It's important to note though that the median cost of cars sold has grown much faster than the CPI car numbers. This is because the BLS tries to account for car quality, so even though you're paying much more for a car, they can say car prices "per value" are flat.
Re: Consumer prices increase 2.6 percent
#8Anyone who has been to a supermarket in the last 12 months knows that the 2.6 percent increase in consumer prices is observably not true. I buy the same basket of the generic products ( chicken quarters, produce, beef, eggs, bacon, dairy products ) . Compared to this time in 2020 I'm spending at least 20% more. People who buy processed food(s) are spending at least 30% more.
Since I cook meat often, I kept track of the Trader Joe's meats from early 2020, to know
Flank steak went from $8.99/lb to $12/lb NY Strip, from $10.99 to $14.99 Fillet Mignon from $18.99 to $24.99
Chick has gone up the same.
For many food items, inflation is 10% - 15% or more
Re: Consumer prices increase 2.6 percent
#9Anyone who has been to a supermarket in the last 12 months knows that the 2.6 percent increase in consumer prices is observably not true. I buy the same basket of the generic products ( chicken quarters, produce, beef, eggs, bacon, dairy products ) . Compared to this time in 2020 I'm spending at least 20% more. People who buy processed food(s) are spending at least 30% more.
Read a bit more and you'll find
> Prices for food at home increased 3.3 percent over the past 12 months. All six major grocery store food group prices advanced over the period, with increases ranging from 1.6 percent (dairy and related products) to 5.4 percent (meats, poultry, fish, and eggs). Prices for food away from home rose 3.7 percent, as the 6.5-percent advance in prices for limited services meals was the largest 12-month increase since data were first collected in 1997.
Doesn't quite fill your 20% claim, but 5.5% for meats and 6.5 for limited services meals (places where you primarily order at the counter/drive-through/online) is quite the bump!
Re: Consumer prices increase 2.6 percent
#10Anyone who has been to a supermarket in the last 12 months knows that the 2.6 percent increase in consumer prices is observably not true. I buy the same basket of the generic products ( chicken quarters, produce, beef, eggs, bacon, dairy products ) . Compared to this time in 2020 I'm spending at least 20% more. People who buy processed food(s) are spending at least 30% more.
I'm going to believe the massive study over your single data point