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Food price hikes are no longer outpacing overall inflation

cnn.com

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Re: Food price hikes are no longer outpacing overall inflation

#2

Post by hnbad »

It's interesting that the article is quick to blame "increased labor costs" and low unemployment (???) for the price hikes but then doesn't explain why prices for some items actually went down again. Meanwhile overall wages don't seem to track inflation.

It reads like some businesses had to increase wages to retain employees but this doesn't seem to be causative as these employees were asking for higher wages because of the increased cost of living, not the other way around.

Re: Food price hikes are no longer outpacing overall inflation

#3

Post by bhpm »

hnbad wrote: post #2

It's interesting that the article is quick to blame "increased labor costs" and low unemployment (???) for the price hikes but then doesn't explain why prices for some items actually went down again. Meanwhile overall wages don't seem to track inflation. It reads like some businesses had to increase wages to retain employees but this doesn't seem to be causative as these employees were asking for higher wages because…

It’s so weird to me that the labor story seems to leave out that 1m people died in the pandemic and also the largest generation in history is retiring.

Re: Food price hikes are no longer outpacing overall inflation

#4

Post by runsWphotons »

bhpm wrote: post #3
hnbad wrote: post #2

It's interesting that the article is quick to blame "increased labor costs" and low unemployment (???) for the price hikes but then doesn't explain why prices for some items actually went down again. Meanwhile overall wages don't seem to track inflation. It reads like some businesses had to increase wages to retain employees but this doesn't seem to be causative as these employees were asking for higher wages because…

It’s so weird to me that the labor story seems to leave out that 1m people died in the pandemic and also the largest generation in history is retiring.

The people who died would have mostly been retired or lower productivity. Shouldnt impact labor costs much. Age pyramid definitely would though.

Re: Food price hikes are no longer outpacing overall inflation

#5

Post by killingtime74 »

bhpm wrote: post #3
hnbad wrote: post #2

It's interesting that the article is quick to blame "increased labor costs" and low unemployment (???) for the price hikes but then doesn't explain why prices for some items actually went down again. Meanwhile overall wages don't seem to track inflation. It reads like some businesses had to increase wages to retain employees but this doesn't seem to be causative as these employees were asking for higher wages because…

It’s so weird to me that the labor story seems to leave out that 1m people died in the pandemic and also the largest generation in history is retiring.

1m is worldwide right? I see excess deaths for US for the entire pandemic is around 470k. The US population grew 1.5 million just from July '22 to July '23. This is apparently above trend. https://www.texastribune.org/2023/12/19/texas-2023-populatio... Ref: https://ourworldindata.org/excess-mortality-covid

Re: Food price hikes are no longer outpacing overall inflation

#6

Post by skygazer »

killingtime74 wrote: post #5
bhpm wrote: post #3

Earlier quoted context omitted.

It’s so weird to me that the labor story seems to leave out that 1m people died in the pandemic and also the largest generation in history is retiring.

1m is worldwide right? I see excess deaths for US for the entire pandemic is around 470k. The US population grew 1.5 million just from July '22 to July '23. This is apparently above trend. https://www.texastribune.org/2023/12/19/texas-2023-populatio... Ref: https://ourworldindata.org/excess-mortality-covid

I think it was over a million just in the US just based on reported cause on death certificates.

https://www.cdc.gov/nchs/covid19/mortality-overview.htm

Re: Food price hikes are no longer outpacing overall inflation

#7

Post by tekla »

killingtime74 wrote: post #5
bhpm wrote: post #3

Earlier quoted context omitted.

It’s so weird to me that the labor story seems to leave out that 1m people died in the pandemic and also the largest generation in history is retiring.

1m is worldwide right? I see excess deaths for US for the entire pandemic is around 470k. The US population grew 1.5 million just from July '22 to July '23. This is apparently above trend. https://www.texastribune.org/2023/12/19/texas-2023-populatio... Ref: https://ourworldindata.org/excess-mortality-covid

I'm going to guess you didn't read your own sources

> The raw death count gives us a sense of scale: for example, the US suffered roughly 470,000 excess deaths in 2020, compared to 352,000 confirmed COVID-19 deaths during that year.

https://covid.cdc.gov/covid-data-tracker/#datatracker-home

Total Deaths 1,159,864

That roughly tracks.

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