Inflation here? gas/grocery prices just continue to climb (2 Viewers)

[buzd]

Man, those numbers are outrageous.

Some of them are BS as a lot of that stuff I buy regularly, so something is going on with vendors or west coast costs or something, because those are not universal increases.

 

[SaintInBucLand]

Some of them are BS as a lot of that stuff I buy regularly, so something is going on with vendors or west coast costs or something, because those are not universal increases.

I just did a google search for many of those items and many of them are coming up accurate from the article.

Some even higher.

Jumbo White Onion 50 lb.

These 50 lb. jumbo white onions have a thinner, paper-like skin and a sharper, more pungent flavor than yellow onions. These onions are perfect for dicing, mincing, or slicing. White onions are great for adding flavor to almost any recipe.<br><br>Add sliced or diced raw onion to tacos, burgers...

www.webstaurantstore.com

This was just one example.

 

[efil4stnias]

I just did a google search for many of those items and many of them are coming up accurate from the article.

Some even higher.

Jumbo White Onion 50 lb.

These 50 lb. jumbo white onions have a thinner, paper-like skin and a sharper, more pungent flavor than yellow onions. These onions are perfect for dicing, mincing, or slicing. White onions are great for adding flavor to almost any recipe.<br><br>Add sliced or diced raw onion to tacos, burgers...

www.webstaurantstore.com

This was just one example.

The other aspect the article didnt discuss- transportation costs ( unless i missed it )

Most restaurants have their product delivered. That product has to go from farm to distributor and then from distributor to restaurant. Increased fuel costs are driving costs up for the independent operator ( which many are in both restaurants and delivery ).

 

[SaintInBucLand]

Well it looks like the inflation spikes we saw in January and February were not just seasonal anomalies as described by many like Tom Lee and others noted.

https://www.cnbc.com/2024/04/10/cpi-inflation-march-2024-consumer-prices-rose-3point5percent-from-a-year-ago-in-march.html

 

[SWJJ]

Well it looks like the inflation spikes we saw in January and February were not just seasonal anomalies as described by many like Tom Lee and others noted.

https://www.cnbc.com/2024/04/10/cpi-inflation-march-2024-consumer-prices-rose-3point5percent-from-a-year-ago-in-march.html

 

[DaveXA]

Well it looks like the inflation spikes we saw in January and February were not just seasonal anomalies as described by many like Tom Lee and others noted.

https://www.cnbc.com/2024/04/10/cpi-inflation-march-2024-consumer-prices-rose-3point5percent-from-a-year-ago-in-march.html

Yeah, this isn't shocking at all. And I'm seeing some try to say that wages are keeping up, which is nonsense. Wages are going up, but they always...always lag inflation. Purchasing power is down across the board. People have to work multiple jobs in many cases to maintain a standard of living when at one time a full time job was previously sufficient.

 

[SaintInBucLand]

Yeah, this isn't shocking at all. And I'm seeing some try to say that wages are keeping up, which is nonsense. Wages are going up, but they always...always lag inflation. Purchasing power is down across the board. People have to work multiple jobs in many cases to maintain a standard of living when at one time a full time job was previously sufficient.

Agree, increases in wages takes years to have an impact if any at all. The real problem/culprit was the huge amounts of money printing the federal reserve did, of which a huge majority went to banks. Also you insight about multiple jobs is what is making the unemployment numbers so robust and how we get this illusion of adding jobs when they are second and third jobs being added rather than career type jobs.

 

[Eeyore]

Even the good jobs aren't enough. Housing prices have skyrocketed. I wouldn't be able to buy my house at the current prices combined with the interest rate being nearly triple what it was when I bought it. What is the minimum requirement for a down payment on a mortgage now?

I work with kids who work ridiculous overtime and can't buy a house. Their rent on two bedroom apartments is higher than my mortgage.

Things are not as easy for people getting started as they were for us. I worked two jobs to get my first house. I don't think that would work now.

 

[itztime]

Yeah, this isn't shocking at all. And I'm seeing some try to say that wages are keeping up, which is nonsense. Wages are going up, but they always...always lag inflation. Purchasing power is down across the board. People have to work multiple jobs in many cases to maintain a standard of living when at one time a full time job was previously sufficient.

I cant say wages are going up for my company, pay raises have gone down from 5% to 1.5% now and that started last year on top of a temporary salary reduction due to Covid. Lets talk job market, as there are jobs out there for my occupation as a project manager but I am hard pressed to find anyone to match my salary for a lateral move much less find a higher paying one.

 

[DaveXA]

I cant say wages are going up for my company, pay raises have gone down from 5% to 1.5% now and that started last year on top of a temporary salary reduction due to Covid. Lets talk job market, as there are jobs out there for my occupation as a project manager but I am hard pressed to find anyone to match my salary for a lateral move much less find a higher paying one.

Indeed.

 

[SaintInBucLand]

With today's significantly lower than expected GDP number as inflation has started to move back up we could be seeing the beginning signs of stagflation.

Dow Plunges 700 Points—Worst Day In 14 Months As Disappointing GDP Report Accelerates Stagflation Fears

It’s the “worst of both worlds” as declining economic growth and lingering inflation throw a major wrench in hopes for a swift economic recovery.

www.forbes.com

 

[efil4stnias]

With today's significantly lower than expected GDP number as inflation has started to move back up we could be seeing the beginning signs of stagflation.

Dow Plunges 700 Points—Worst Day In 14 Months As Disappointing GDP Report Accelerates Stagflation Fears

It’s the “worst of both worlds” as declining economic growth and lingering inflation throw a major wrench in hopes for a swift economic recovery.

www.forbes.com

hopefully an anomaly, as there is no real fighting "stagflation" in the short term - you kinda have to let it run its course, and do very small doses of elixir to monetary policy, inflation and unemployment.

 

[DaveXA]

hopefully an anomaly, as there is no real fighting "stagflation" in the short term - you kinda have to let it run its course, and do very small doses of elixir to monetary policy, inflation and unemployment.

People are going to slow down spending because they're running out of available credit. Something is going to give and I think sooner rather than later. The only way it turns around is if inflation pauses for a bit or wages increase significantly. I've been beating the inflation drum for 2 years now. It's still at unsustainable levels. The consumer won't catch up anytime soon.

 

[SaintInBucLand]

People are going to slow down spending because they're running out of available credit. Something is going to give and I think sooner rather than later. The only way it turns around is if inflation pauses for a bit or wages increase significantly. I've been beating the inflation drum for 2 years now. It's still at unsustainable levels. The consumer won't catch up anytime soon.

Agreed, also credit card debt is at an all time high in terms of the actual number and percentages. The major problem that is never addressed is all this inflation means prices just keep going up.. when they say inflation is going down, they should be saying, prices are still going up, but just not as much as before.. but the past 3 months we have seen inflation rate rising once again. With as much as inflation has risen in the past 3 years all those hourly wage increases most states did(Florida passed $15 hour last year) most people cant afford basic necessities, and these aren't the $15 per hour people, these are people making $25-$30 an hour and are still struggling.

 

[Mr. Blue Sky]

With today's significantly lower than expected GDP number as inflation has started to move back up we could be seeing the beginning signs of stagflation.

Dow Plunges 700 Points—Worst Day In 14 Months As Disappointing GDP Report Accelerates Stagflation Fears

It’s the “worst of both worlds” as declining economic growth and lingering inflation throw a major wrench in hopes for a swift economic recovery.

www.forbes.com

Market rebounded and closed down 375.. not great, but most def better than 700 pts down…. Even my TSLA got a nice bump today ! Granted, it’s been depressed due mainly to Elon’s BS antics lately, but they announced a more affordable 2026 model yesterday so that helped .