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ribeye is not the cut that most people are buying. In a supply chain challenged environment with rising wages, premium cuts of beef are seeing price increases,

by nappy 5y ago

ribeye is not the cut that most people are buying. In a supply chain challenged environment with rising wages, premium cuts of beef are seeing price increases, but this is not evidence of outsized inflation. Also, if you want delicious beef, there are lots of other options both in cuts and preparations.

silisili 5y ago
I do understand this point, but am trying to be honest as a consumer. My family has only ever really liked ribeyes. If they've doubled in price, that affects us. That say, stew meat or london broil didn't doesn't affect our bottom line.
- nappy 5y ago
  You've stated the point well: there are substitute beef products that haven't seen the same price increases. This is not the same as me general inflation, or nearly as concerning.
- nappy 5y ago
  The level of luxury people get acclimated to is pretty amazing. I'm trying to imagine the response I'd have received if as a child I had demanded ribeye regularly, or what my grandparents would have said if they heard it discussed in such a manner today, as a product deserved at a cheap price (I gather your family can still afford it.)
  - rory 5y ago
    I think you might be getting to the core of the reason these replies have gotten so crazy. Measures like CPI are meant to estimate the expenses of a typical middle-class family. HN is full of people who fancy themselves typical middle-class, but in fact are not. So higher inflation in premium goods is seen as a crisis. Notwithstanding how fast we'd cook the planet if everyone demanded ribeye every week...
- nuerow 5y ago
  > My family has only ever really liked ribeyes. If they've doubled in price, that affects us. A particular consumer's habit of consuming very specific high-end goods or services which is immune to substitute goods is not how inflation is determined. It would make as much sense as claiming inflation skyrocketed because you only wear Air Jordans and the latest model is sold for around $200 while last year they sold for $120.
- IAmGraydon 5y ago
  > My family has only ever really liked ribeyes. If they've doubled in price, that affects us. With all due respect, is it lost on you how utterly ridiculous this statement is?
  - onion2k 5y ago
    It's not a ridiculous statement if everyone is saying their particular favourite product has gone up in price significantly more than inflation, as the original post (https://news.ycombinator.com/item?id=29063208 https://news.ycombinator.com/item?id=29063208) in this thread does. If all the products have increased in price then inflation is higher than reported.

by nappy 5y ago

silisili 5y ago

I do understand this point, but am trying to be honest as a consumer. My family has only ever really liked ribeyes. If they've doubled in price, that affects us. That say, stew meat or london broil didn't doesn't affect our bottom line.

nappy 5y ago
You've stated the point well: there are substitute beef products that haven't seen the same price increases. This is not the same as me general inflation, or nearly as concerning.
nappy 5y ago
The level of luxury people get acclimated to is pretty amazing. I'm trying to imagine the response I'd have received if as a child I had demanded ribeye regularly, or what my grandparents would have said if they heard it discussed in such a manner today, as a product deserved at a cheap price (I gather your family can still afford it.)
- rory 5y ago
  I think you might be getting to the core of the reason these replies have gotten so crazy. Measures like CPI are meant to estimate the expenses of a typical middle-class family. HN is full of people who fancy themselves typical middle-class, but in fact are not. So higher inflation in premium goods is seen as a crisis. Notwithstanding how fast we'd cook the planet if everyone demanded ribeye every week...
nuerow 5y ago
> My family has only ever really liked ribeyes. If they've doubled in price, that affects us. A particular consumer's habit of consuming very specific high-end goods or services which is immune to substitute goods is not how inflation is determined. It would make as much sense as claiming inflation skyrocketed because you only wear Air Jordans and the latest model is sold for around $200 while last year they sold for $120.
IAmGraydon 5y ago
> My family has only ever really liked ribeyes. If they've doubled in price, that affects us. With all due respect, is it lost on you how utterly ridiculous this statement is?
- onion2k 5y ago
  It's not a ridiculous statement if everyone is saying their particular favourite product has gone up in price significantly more than inflation, as the original post (https://news.ycombinator.com/item?id=29063208 https://news.ycombinator.com/item?id=29063208) in this thread does. If all the products have increased in price then inflation is higher than reported.