"Government theft drops to 8.5% annual rate" -- There I fixed the headline
Inflation is a hidden tax that the public has been PR'd into thinking is acceptable.
U.S. annual inflation rate drops to 8.5%
191–200 of 918 posts
Re: U.S. annual inflation rate drops to 8.5%
#192Good news I guess. But my electricity price literally doubled. My house insurance is up 30%. My gas bill is up by a lot. Have you seen the price of oreos? The $5 box at Taco Bell is my splurge and I'm trying to cut back on everything I can.
The inflation on food due to high fuel and fertilizer prices won’t really kick in until October -> February during harvest. Next year food will be far higher, largely due to - people skipping fertilizer a second year in a row - the feed price increases from year prior will impact next years meat - much of the cow herds have been reduced due to hay prices skyrocketing (but beef rates staying far lower, due to sell off…
I'm not trying to be glib or intentionally controversial, but: is this a "market correction" for beef not really being as sustainable at recent consumption levels? Is it a bad thing if beef becomes significantly more expensive?
Re: U.S. annual inflation rate drops to 8.5%
#193Some random things I've noticed in my personal experience during the last few weeks that are inflated at way above 8.5%:
Gasoline (gallon) - 3.00 last summer, 3.75 today (25% increase)
Towing a Car (~50mi Round Trip) - 125 last summer, 350 today. (180% increase!)
Bag of Dorito's - 4.50 last summer, 6 today (33% increase)
Can of Spray Paint - 4.25 last Summer, 6.50 today (54% increase)
Re: U.S. annual inflation rate drops to 8.5%
#194Good news I guess. But my electricity price literally doubled. My house insurance is up 30%. My gas bill is up by a lot. Have you seen the price of oreos? The $5 box at Taco Bell is my splurge and I'm trying to cut back on everything I can.
One thing about inflation is that it will never go back down.
Best case scenario is it stops growing.
Re: U.S. annual inflation rate drops to 8.5%
#195[deleted]
Re: U.S. annual inflation rate drops to 8.5%
#196Earlier quoted context omitted.
>But my electricity price literally doubled. What supplier and location, out of curiosity?
Similar in Florida with FPL(the utility company) [0]. We are now paying more. These are the new rates [1]. [0] https://cleanenergy.org/blog/fpls-holiday-surprise-810-milli... [1] https://www.fpl.com/content/dam/fplgp/us/en/rates/pdf/res-ju...
I've heard from friends in the Gainesville area (GRU) that their bills have been in the 800 - 1100 range!!! Before I moved in 2010, I had a almost 500 bill and even that was just insane. When I look at the population of that area, I ask, "how many of your customers can actually afford rates like that? That's like a mortgage payment!"
Re: U.S. annual inflation rate drops to 8.5%
#197What are the actual metrics they use to measure inflation? My electric bill is 33% higher than previous years, my gas bill is similar. City/Water/Sewer doubled. Trips to the grocery store are up close to 20%, and gasoline doubled. Everything you actually purchase day-to-day is up far more than the inflation benchmarks, so much so it’s beginning to feel like propaganda. I overnight went from thinking “I make good mone…
There's no way to do "the main inflation number" and make everyone happy - because they have to try to find some way to include housing, and that either drags it way up or way down relative to how you "feel". If all other prices double, but you own or have fixed rent, you're going to feel it but the numbers will be muted; if all prices stay the same but your rent doubles, you're still going to feel it but the numbers…
The official measures have always been BS. Its obvious to everyone now.
Hedonic adjustments + flat out replacing expensive items for cheap items was always retarded
Re: U.S. annual inflation rate drops to 8.5%
#198Earlier quoted context omitted.
Hard to say we're seeing stagflation with current job numbers. It might happen, especially with the Fed being willing to increase rates, but it's not evident that's where we're at right now.
Remember that companies are really reluctant to part with already hired personnel. And that when recession-induced layoffs start they often look like an avalanche. We already can see the first trickles with the tech companies and it takes 9-12 months for rate changes to influence the economy fully.
Agreed, but it's also possible that tech sees greater cuts than elsewhere.
Re: U.S. annual inflation rate drops to 8.5%
#199Re: U.S. annual inflation rate drops to 8.5%
#200Earlier quoted context omitted.
> My house insurance is up 30% Everything seems to be going up, but interesting that you brought home insurance up? Any particular reason why you mention it? I guess if house prices and building material and labor costs are increasing, it makes sense that insurance would too. (Although I'm sure if everything dropped, insurance would remain the same)
Coastal and flood prone insurance is rising in the US at a higher fixed rates the next couple of years because of federal policy changes that reduce the insurance cross-subsidy for riskier areas.
This was my experience while living in Florida. Hurricane/Flood risks made it so there was no "shopping around". I had a house (built in the mid-60s) with a ton of tree cover. There was basically one company who'd even talk to me. I can't imagine what they'd charge me these days.