How close are we to that 50% mark? I am clueless about how most people spend their grocery dollars. I also probably have more money than the average person, so the increases I’ve seen do not “break the bank” so to speak, for me personally.
I also live alone, so never have discussions with others, about buying this or that, or trading off buying certain items due to price comparisons, etc.
There are still deals to be found, but getting harder to come by. I got 6 lbs. of bacon at Publix ($5 each, but BOGO) for $15 the other day.
I notice container size or quantity in ozs. of many products (the old Breyer’s Ice Cream trick) decreasing w/ only slight price increases.
Just went to the store. Paper towels and bread are wrapped in smaller rolls/bags, meat is over 100% marked, perishables are very high. Even cream cheese that was $2.99 is now $7.59. I bought 250 in groceries in which last year would have been maybe 100 bucks and it will probably last seven days instead of two weeks.
I think the 59% threshold has been met.
People are still spending money. Went to Texas Roadhouse last night and waited an hour and a half for a table. That’s almost pre pandemic time. It’s good news that people are spending. Jobs are certainly plentiful. It does cost a bit more for things.
It’s about $15 round trip to the grocery store for me here in rural MO. Closest grocery store is over 20 miles away and my truck gets 15mpg. If gas gets over $5/gal, it will be $20 trips.
Anyone out here who commutes that distance, makes $15/hr and drives a full size truck, as many do, is paying a big hunk of paycheck for fuel. They basically work for an hour each day to pay for the commute.
If oil goes to $380, as someone at JP Morgan warns, gas will push $10/gal and people’s commute cost will double. A 45 mile round trip at 15mpg will be upwards of $30/day - $150/wk - $600/mth - $7,200/yr. Big chunk for someone who makes $30k/yr. Add other vehicle expenses and it’s 1/3 of their pay. More if they’re making vehicle payments. Tires go quick on these gravel roads.
Now double food prices and what do they have left to pay the bills with? Food is already up 20-30%. Good used 4 cylinder vehicles are hard to find right now too.
I've always been a thrifty shopper and am trying to be more so these days. It's costing about $100/wk for the two of us right now for groceries.
Double that for a family of four living off of one $30k/yr income. Then double it again if food prices do double. $150/wk in gas if that doubles + $400/wk in food if that doubles is $550/wk. $15/hr x 40 hrs is $600/wk before withholding and $15/hr is what all the factories pay around here and those factories are 28 miles from here.
Even if prices for food and fuel go up 50%, these lowest income people around here will be struggling. Think of the young family of four with both kids still in diapers or even one baby who's still too young for daycare. There's not enough jobs around here for both parents to work so there's a lot of stay home moms. Day care for two kids eats up an entire minimum wage or part time job. BTDT
Beats me.
I just brought home a package of ribeye steaks. They were 50% less than two weeks ago for the same fresh cuts of meat.
I am told that a sudden drop in fresh meat prices is a strong warning signal of imminent food shortages. The reasoning is that ranchers and farmers are culling their herds and flocks, anticipating that they cannot afford feed grains to sustain them.
I am topping off my other stocks now. Paying special attention to non-perishable (canned) goods, as I understand we may see rolling electrical outages in July and August.
Steaks are going on the grill tonight. No sense holding on to them.