U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
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Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#2I think this has a lot to do with the under counting of inflation. If you go back to 80s methodology inflation has been much larger that what they've let on.
Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#3Everyone knows they are spending way more on food. The CPI inflation numbers feel like a lie.
Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#4Everyone knows they are spending way more on food. The CPI inflation numbers feel like a lie.
But that's not what's happening in this article. The Food Away From Home share has hit an all-time high, and FAFH costs more (because it contains more internalized labor than groceries).
Americans eat out a lot because they are unbelievably rich.
Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#5Reminds me of: https://mastodon.gamedev.place/@badlogic/111071396799790275
Does a US-centric version of a tool like this one exist?
Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#6I think this has a lot to do with the under counting of inflation. If you go back to 80s methodology inflation has been much larger that what they've let on.
What's the 80s methodology inflation?
Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#7Everyone knows they are spending way more on food. The CPI inflation numbers feel like a lie.
Same here in Germany, it's crazy how much more we spend on food now. I used to usually spend slightly over 400€ for us two per month, just a few years ago. Nowadays, I struggle to stay below 600€.
Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#8I think this has a lot to do with the under counting of inflation. If you go back to 80s methodology inflation has been much larger that what they've let on.
I am not familiar with the methodology of reporting inflation used in the 80s - did they take a wider basket of goods, or were there other consumer purchases in question that would affect the reporting number? If we were to use the 80s methodology - what would inflation numbers look like?
Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#9Interesting timing—Target claims consumers' discretionary spending is down, "both in dollars and units". I wonder if this points towards food prices climbing faster than inflation.
Re: U.S. Consumers Spent More on Food in 2022 Than Ever Before (Inflation Adjusted)
#10Shhh, don't look at that. Just focus on
"U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected (cnbc.com)" https://news.ycombinator.com/item?id=38025177 and celebrate. Sure, 90% of Americans under 50 will never be able to buy a house. They are one injury away from bankruptcy. But the GDP!