Posted on 04/10/2024 11:22:55 AM PDT by zeestephen
The consumer price index rose 3.5% in March 2024 - on an annual basis - according to the U.S. Bureau of Labor Statistics. That's up from 3.2% in February...Elevated housing inflation has kept CPI readings stubbornly high. Gasoline prices also edged up...There are some bright spots like food prices...Household buying power is also up over the past year as wage growth has outstripped inflation.
(Excerpt) Read more at cnbc.com ...
However, I am still convinced that the food cost decline is completely bogus.
I am an old guy who goes on a three mile evening walk every day.
I visit two major grocery stores - Safeway and QFC (Kroger) - every day.
Before the Pandemic, I bought 100% of my food on sale.
For the last year, the shelf sticker prices have stayed the same.
But, the sale prices have completely disappeared, or become pathetically small.
The charts show that "Food at Home" is up 0.0% for two straight months - but, only because the sticker prices do not change!
I pay by charge card. I can compare my annual food costs with a couple of computer clicks.
Since 2020, my annual food costs are up 60%.
Since 2020, my rent is up 30%.
Beef, butter, gas, cars, taxes and housing.
The “experts” said inflation was transitory.
They cannot be incorrect, that’s why we call them “experts”.
Plus paper products, bread, flour, cereal. And fast food which is hit by higher meat/grain/dairy/paper prices.
Get ready for fuel prices to blow up as OPEC continues to hold oil supplies low. We will see $100 a barrel oil by the end of summer and pump prices of summer 2022 or more.
We need cheaper, simpler, more easily repaired vehicles.
However, I am still convinced that the food cost decline is completely bogus.
It absolutely is - eggs in Houston are back up over $2.00 a dozen, milk is $5.00, cheese slices are $3.00, heck even Bar S bologna and hot dogs are $1.99 now, rather than $.99... it’s insane.
Rent is up because:
1. Skyrocketing Building Maintenance costs
2. Skyrocketing property taxes based on inflated assessments due to Bidenflation
3. Skyrocketing utility costs due to new green deal implementation
4. Exploding government regulations on housing providers thus greatly increasing risk for small landlords in particular. AKA eviction moratoriums, “good cause” eviction legislation, rent control, squatters rights Etc.
5. Skyrocketing property insurance premiums
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