Last month it was $4.64. Three months ago it was $4.22.
Might be time to buy a cow, but hay keeps going up...
Posted on 08/13/2024 10:23:50 AM PDT by yesthatjallen
The great inflation spike of the past three years [Bidenomics] is nearly spent — and economists credit American consumers for helping slay it.
Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.
“While inflation is down, prices are still high, and I think consumers have gotten to the point where they’re just not accepting it,” Tom Barkin, president of the Federal Reserve Bank of Richmond, said last week at a conference of business economists. “And that’s what you want: The solution to high prices is high prices.”
A more price-sensitive consumer helps explain why inflation has appeared to be steadily falling toward the Federal Reserve’s 2% target, ending a period of painfully high prices that strained many people’s budgets and darkened their outlooks on the economy. It also assumed a central place in the presidential election, with inflation leading many Americans to turn sour on the Biden-Harris administration’s handling of the economy.
SNIP
(Excerpt) Read more at apnews.com ...
Now that you don't have any money to spend because of inflation, prices might start going down.
It's not necessarily a conscious decision, but more likely a practical one.
Private citizens don't have printing presses producing unlimited funds.
These idiots (AP) don’t know how economics work. They make it sound like corporate greed was the driving force. Companies can’t just stop raising prices because they want to. They have costs, and contrary to communism, they have to make an eventual profit, or they will go out of business.
The noble consumer, impoverished by the establishment, is heroic because they can no longer buy things. I hate these lying propagandists.
If consumers don’t buy enough, there may have to be layoffs, which reduces jobs, which reduces buying power.
Take up hobbies like gardening, growing fruit trees, herbs, veggies, etc.....
Zero waste.
Beat me to it.
“Inflation is always and everywhere a monetary phenomenon”
— Milton Friedman
Government causes it. Only government can fix it.
Consumers don’t “fix it” by their buying habits.
Leftist economics makes witchcraft look good by comparison.
“consumers refusal to keep paying higher prices”
Oh, if it were so easy...
What that really means in non-Govt-propaganda terms is that their incomes are not keeping up with inflation, and consumers, as a whole, are reducing the amount and quality of the things they buy.
Indeed. Inflation is not a voluntary phenomenon. It is an economic consequence of putting excess money into the system with the same amount of goods and services. In other words, money printing. Prices will continue to rise.
Last month it was $4.64. Three months ago it was $4.22.
Might be time to buy a cow, but hay keeps going up...
A few thoughts
1) there are fixed expenses which are hard to control and variable expenses which you can control (like eating out)
2) Inflation is personal to each of us. Each of us is affected differently depending on what we need and buy.
It was not high prices from corporations or corporate gouging that caused inflation. It was not overspending by consumers that caused inflation.
Inflation was caused by out-of-control spending by the federal government, mostly under the Biden/Harris administration. Take away the idiocy of Bidenomics, and inflation would still be very low, or as low as it was under Trump.
People had it good under Trump, but then, the socialist spending under Biden and the idiocy of climate change policy, caused gas prices and everything else to go sky-high.
The AP and democrats cannot be trusted to tell the truth about the causes of any problems that affect consumers or the country.
That's about the dumbest thing I've ever heard.
You don’t work retail, do you? Once the millionaire and billionaire shareholders saw a profit during Covid, there was no way they were going to reverse course and bring prices back down even though supply has returned back to normal. Corporate (shareholder) greed is a major driving factor.
Kamalanomics
We are still adding a trillion vapor dollars to the economy every hundred days. Inflation is nearly, if not already, permanent.
One of my staple items, Monterey Frozen Burritos has more than doubled in price since 2021. In 2021 they were about $2.99 for a pack of eight burritos. Now, they are usually sold at $5.99 or $.99. The item itself has shrunk a little bit. From the producer’s point of view, I understand the costs of ingredients has probably been going up at near the same rate as the retail product.
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