Inflation here? gas/grocery prices just continue to climb (4 Viewers)

[superchuck500]

So, how long before this all settles itself out? Or are we in this for a while?

We pumped a massive amount of liquidity in the system during the crisis last year. That money is fully dispersed now and we're continuing to have supply-side challenges from the pandemic and other systemic logistical problems. It's a recipe for price increases, some of which is true monetary inflation and some of which is supply/demand dynamics.

Raising rates can be a tool against inflation but I think the supply chain difficulties and recovery posture make raising rates dangerous right now. I think we're in this for a while and hopefully things just get better on the supply chain as we move past the pandemic. The global nature of it means that it's not just the US situation that matters.

 

[efil4stnias]

It was October 11, efil4stnias started this thread, I swear grocery prices went up again because as of last week the grocery bill went up another $70 and no extra Thanksgiving food related items were purchased.

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Same here this past weekend.

I think i posted this a week ago or so- there is a specific sausage i buy- usually $3.29 for 1lb - last week was $5.99 /lb. ( and this week ) I didnt buy it

so i guess ill be losing some lbs here lol

 

[bigdaddysaints]

The small grocery store (Ralphs, in Gonzales) i buy my meat at must be buying it off the black market. With all this inflation, their meat is still as low as it was the last couple years. Their ground meat (80/20) is typically $2.99 or $3.49/lb. When its not on sale its $4.99, but its on sale twice as often than its not. Same for the pork and chicken (except them damn wings). I don't buy steaks too often, but they don't seem to be much higher than they have been in the past. This one of the few places i'll buy my meat. I guess they keep the meat prices low to get everyone in there to buy other groceries.
But i have always been a bargian shopper. I cannot tell the difference in Del Monte green beens for $1.50 and the store brand for .$50, as with all the canned goods. $5 for a gallon of borden and $3.50 for a gallon of store brand milk. Add a whole shopping cart and thats a lot of money saved. I am not a brand snob.

Edit: my daughter is a ketchup snob. She'll only use Hienz ketchup...

 

[efil4stnias]

The small grocery store (Ralphs, in Gonzales) i buy my meat at must be buying it off the black market. With all this inflation, their meat is still as low as it was the last couple years. Their ground meat (80/20) is typically $2.99 or $3.49/lb. When its not on sale its $4.99, but its on sale twice as often than its not. Same for the pork and chicken (except them damn wings). I don't buy steaks too often, but they don't seem to be much higher than they have been in the past. This one of the few places i'll buy my meat. I guess they keep the meat prices low to get everyone in there to buy other groceries.
But i have always been a bargian shopper. I cannot tell the difference in Del Monte green beens for $1.50 and the store brand for .$50, as with all the canned goods. $5 for a gallon of borden and $3.50 for a gallon of store brand milk. Add a whole shopping cart and thats a lot of money saved. I am not a brand snob.

Edit: my daughter is a ketchup snob. She'll only use Hienz ketchup...

I can - especially in canned goods. ( probably the sodium content lol )

But you can always count on Winn Dixie or Rouses to throw those canned Del Monte on sale 10/$2 or some thing like that every so often, so we just stock up when they do.

 

[BobE]

It was October 11, efil4stnias started this thread, I swear grocery prices went up again because as of last week the grocery bill went up another $70 and no extra Thanksgiving food related items were purchased.

​

Because they are. It's almost weekly now that the prices jump and it's actually been that way for awhile now.

 

[dtc]

So, how long before this all settles itself out? Or are we in this for a while?

It's here for the long run. We've printed so much money over the past 40 years and then increased it drastically due the pandemic that there are dollars chasing scarce resources and that's not going to stop until the supplies open up. With increased wages and prices on everything, even an interest rate increase won't help, but would hurt the overall economy.

New normal.

 

[saintmdterps]

The small grocery store (Ralphs, in Gonzales) i buy my meat at must be buying it off the black market. With all this inflation, their meat is still as low as it was the last couple years. Their ground meat (80/20) is typically $2.99 or $3.49/lb. When its not on sale its $4.99, but its on sale twice as often than its not. Same for the pork and chicken (except them damn wings). I don't buy steaks too often, but they don't seem to be much higher than they have been in the past. This one of the few places i'll buy my meat. I guess they keep the meat prices low to get everyone in there to buy other groceries.
But i have always been a bargian shopper. I cannot tell the difference in Del Monte green beens for $1.50 and the store brand for .$50, as with all the canned goods. $5 for a gallon of borden and $3.50 for a gallon of store brand milk. Add a whole shopping cart and thats a lot of money saved. I am not a brand snob.

Edit: my daughter is a ketchup snob. She'll only use Hienz ketchup...

Right now Aldi and my Prius are saving my *** from this being even worse than it is. My daughter drinks Honest Kids juice boxes and until this week they were 14.99 for a case of 40 on Amazon. Now they’re 30.00. Nope.

No one can convince me that prices will magically drop as quickly as they went up. I still remember the “oil embargo” hoax of the early 70’s which big oil ginned up to increase gas prices.

Cant find juice boxes for love or money on the store shelves. With car prices remaining stupid, I have frequent talks with my 13 year-old Prius with 192k miles about how I need maybe 6 more months before it goes into semi-retirement

 

[efil4stnias]

Right now Aldi and my Prius are saving my *** from this being even worse than it is. My daughter drinks Honest Kids juice boxes and until this week they were 14.99 for a case of 40 on Amazon. Now they’re 30.00. Nope.

No one can convince me that prices will magically drop as quickly as they went up. I still remember the “oil embargo” hoax of the early 70’s which big oil ginned up to increase gas prices.

Cant find juice boxes for love or money on the store shelves. With car prices remaining stupid, I have frequent talks with my 13 year-old Prius with 192k miles about how I need maybe 6 more months before it goes into semi-retirement

LOL

i have same convo w/ my 11 year old Acura TL at 297,000 - just 12 more months PLEASE.

 

[SaintInBucLand]

It's here for the long run. We've printed so much money over the past 40 years and then increased it drastically due the pandemic that there are dollars chasing scarce resources and that's not going to stop until the supplies open up. With increased wages and prices on everything, even an interest rate increase won't help, but would hurt the overall economy.

New normal.

Seems that way.

Inflation has taken away all the wage gains for workers and then some

What looked like a big jump in workers' wages during October turned into just another gut punch after accounting for inflation.

www.cnbc.com

 

[Super44]

I am in o&g so the prices at the pump do not bother me. I work from home and make a great living. When I shop at the grocery store, I understand the added costs are partly due to the added costs associated with transportation. Not going to discuss the political angle. Not in this forum. Enjoy the increased costs in everything though for the next 2.5 years…

Oh yeah. Wait until the new taxes and costs filter into consumer goods, for those making UNDER $400K/year! LMAO.

 

[Mr. Blue Sky]

LOL

i have same convo w/ my 11 year old Acura TL at 297,000 - just 12 more months PLEASE.

Big Baller like you driving a car with 300k on the clock, then turning around and dropping $200 on a new tennis racquet. …. THIS is what’s wrong with America….

 

[bonnjer]

Seems that way.

Inflation has taken away all the wage gains for workers and then some

What looked like a big jump in workers' wages during October turned into just another gut punch after accounting for inflation.

www.cnbc.com

So all those folks making $15 or $17 or whatever an hour for flipping burgers are going to start wanting $20 an hour? Sweet.

 

[SaintInBucLand]

So all those folks making $15 or $17 or whatever an hour for flipping burgers are going to start wanting $20 an hour? Sweet.

It only makes sense. Cause and effect.

 

[efil4stnias]

Big Baller like you driving a car with 300k on the clock, then turning around and dropping $200 on a new tennis racquet. …. THIS is what’s wrong with America….

Thats WHY i can afford $200 racquet- im driving a 12 year old car with no note lol ( btw -- i play with 2- 3yr old Head Type S racquets- both of which i bought used for $75 a piece lol )

 

[guidomerkinsrules]

Thats WHY i can afford $200 racquet- im driving a 12 year old car with no note lol ( btw -- i play with 2- 3yr old Head Type S racquets- both of which i bought used for $75 a piece lol )

looking for a side eye emoji, give me a sec