The Consumer Price Index(CPI) report that came out for November has shown the reported inflation percent to be 6.8%. This means that over the last year prices have increased 6.8%. While most of us will disagree and know that inflation has been much higher – this figure is an indication. Surging prices for food, fuel, and housing have contributed to this ever-increasing number.
A few key points:
- Energy prices have rose 33.3% since November of 2020
- Food prices have climbed 6.1% over the last year
- Used vehicles have skyrocketed 31.4%
Many “experts” blame the pandemic and supply chain shortages for the rise in prices. While there is some truth to that they ignore the incredible supply of cash that has flooded the markets as well as the ever-increasing national debt. It is expected that the Federal Reserve will raise interest rates in the Spring.
While we have seen continued price increases, wages have grown 4.8% over the same period thus for most it has been a losing battle. With the continued monetary policy which relies on severe deficits, I foresee inflation continuing at least at a slow, steady pace.
Rourke
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Key stone Meats out of beef, pork, and turkey, it seems chicken is still available.
I agree John P, meats are not out here in GA but they may as well be because of the prices per pound! More than 6% for sure. Lots of other non meat shelves empty. Couldn’t even find small marshmallows the other night.
Re : food shortages
Remember that 18 months ago severe droughts and cold and flooding affected thousands of farmers all over the USA.That being said the government is creating shortages.
Please start calling the White House and your rep.
Our local dairy farmers are being penalized if they ship more milk that what the powers that be have regulated.
They are also getting terrible prices for the milk they ARE producing.
With people hungry in the US and the world our farers should be able to ship all the milk they can produce and be rewarded well for it.
IN NYC one family had to go to three different stores to buy whole milk
and could not get it.The store owners said you must be here at 8 am when the shipment arrives.
This is an artificially created crises……. Arlene
all price indexes rise when fuel rises.. it has to..
Produce and grain or any feed or farm related product means basic foods on Each area increases in price to produce due to fuel, equipment parts and new equipment unavailability.
The virus did produce a back log of manufacturing.. OK fine, but new west coast transportation laws are nearly singlehandedly responsible for the scarcity of products… Gavin Newsome (Nancy Pelosi’s nephew), survived his recall with federal support including the President. Now he is literally unassailable, which accounts for a lot.
Proctor and Gamble, Kraft and the majority of consumable producers have announced 25% cross the board price increases. If you buy it in the store they probably make 90% of it. That includes the Dollar Chains who’s shelves are usually half empty or worse on a good day.
Yes it will get much worse and it will not reverse anytime soon. I have long since considered it doesn’t matter which PARTY is in control… not really .. neither side can stop fighting itself.
To say nothing of the tensions with foreign governments… Of course War is always good for the economy… as well as hiding budget items from public audit. It makes for a distraction big enough to get past all this litigious behavior against seom of the elites..
Almost like it was planned .. globally …
The longer a correction takes, the more difficult it will be. IMO
GG58
I thank God every day for a paid-off house, paid-off cars, and the Feeding America mobile food trucks. Living on a fixed income is bad enough, but when social security gets a 6% increase COLA and a 15% increase in Part B premiums you’ve just lost your COLA. There are a lot of empty shelves here in MI and it’s only going to get worse for everybody in the country.
Farmers should be getting more for their products with a rise in equipment, fuel, labor etc. However they are not- I know because we have been farmers for 50 years and most of our friends are farmers. The middle men and the dairy distributors etc. are meddling once again.
We need every citizen to blast the Gov.
Meanwhile keep your friends close and your farmers closer. If you can get to know a farmer- help them by buying direct and help yourself to insure you have a good source of food. You may want to join a local community
farm coop. (CSA ) community supported agriculture.
Lentils are an exc. source of protein . Dried lentils,peas and barley,rice, etc. make great soups and they will last for many years.
Call the Ag commisioner of your state .
Arlene
PS I now have a bumper sticker on my jeep that says “This is the gov. our forefathers warned us about”
Yes it will get worse.
Fred L Casteel, I forgot to mention this was canned meat. Fresh meat in my area of FL has been fairly easy to get, but expensive. Our local Dollar General has a lot of bare spots on the shelves, especially pet food.
John P Up here in the Northeast the Dollar stores ( Dollar General) has more food than they used to have and yes the pet foods are usually gone in a flash. They have also raised many of the prices on their items and I read they are planning to up the prices a bit on everything. Some good buys if one is careful and many items made in the USA if one looks carefully.
I found candy canes there made in the USA which is rare as most are now made in Mexico which I refuse to buy.
Our grocery stores have lots of meat but it is very expensive.
Cream cheese is scarce up here.
This Christmas I am giving gifts of food like Maple Syrup, Honey and hot chocolate .
Please everyone avail yourself of the exc. inf that is free from Hillsdale College re: our current gov. and urgent important matters to retain our freedom and re balance our liberties .Please read Victor Hansens new book. The Dying Citizen.
Getting ice and high winds up here tonight. Arlene
GG58,
“Almost like it was planned .. globally …”
Not almost.
For anyone who does not believe we are already suffering inflation, forget about looking at the cost of groceries unless you have a spread sheet for all goods you purchase at the grocery store. I’m pretty sure you can look at the packaging and recognize the fact that most packages are smaller. Maybe the same price or just a little higher, the content of the somewhat smaller package fractionally less.
First the quantity, then the quality.