5 ms·

Quite literally what happened. My groceries cost over twice as much.

by donatj 4y ago

benj111 4y ago
It isn't literally what happened because that would be equivalent to your groceries costing 4 times as much.
Zanfa 4y ago
Ignoring the fact that you’re implying a 100% USD inflation over the past year, you’d only have 25% of the purchasing power if you “invested” in BTC per the GPs example.
- sp332 4y ago
  "Inflation" is an average of several things. Actual inflation doesn't have to be even across all items. Groceries went up more than other things. Edit: some examples https://www.ers.usda.gov/data-products/food-price-outlook/summary-findings/ https://www.ers.usda.gov/data-products/food-price-outlook/su... Retail egg prices went up 38% from July 2021 to July 2022.
  - the_gastropod 4y ago
    Yes. And eggs are the highest increase on that list, at 38%—still a far cry from 100%. Comparatively, fresh fruits are down 0.8%, and fresh veggies up only 0.8%.
UncleMeat 4y ago
I cannot think of a single individual item that I buy at the grocery store that has doubled, let alone more than doubled.
- donatj 4y ago
  Cereal and butter. A box of cereal is $7+ now, whereas it was $4 not long ago. A pack of butter was $2.50 and now close to $5.
  - Bud 4y ago
    Butter actually wasn't $2.50 at any point in the recent past. This is easy to track. https://fred.stlouisfed.org/series/APU0000FS1101 https://fred.stlouisfed.org/series/APU0000FS1101 So of the two items you cherry-picked to support an assertion that groceries have more than doubled, one is up...around 30-35%. In fact, there doesn't appear to be a single food item in this list that has doubled in the past year. Eggs are the closest. https://www.bls.gov/regions/mid-atlantic/data/averageretailfoodandenergyprices_usandwest_table.htm https://www.bls.gov/regions/mid-atlantic/data/averageretailf...
    - Supermancho 4y ago
      Well butter prices have gone up almost 100% - https://www.ams.usda.gov/mnreports/dywabutter_cme.pdf https://www.ams.usda.gov/mnreports/dywabutter_cme.pdf https://www.globaldairytrade.info/en/product-results/butter/ https://www.globaldairytrade.info/en/product-results/butter/ But that's not the whole story. Prices are not primarily set by wholesale costs for many goods. I think cereal has only gone up 30%, although there have been other events that influenced Kellogs pricing (notice how the Poptarts boxes have changed slightly) and then there has been the opportunity to steal away some extra profit - https://www.wxyz.com/news/now-cereal-prices-are-on-the-rise-and-experts-say-inflation-will-stick-around https://www.wxyz.com/news/now-cereal-prices-are-on-the-rise-... (search for "Mills").
  - mrguyorama 4y ago
    Meanwhile pork and chicken are roughly the same as they've always been where I am, at least ignoring sale pricing. Hell, I got 3.5 pounds of steak tips for $20 about a month ago. My food costs have absolutely gone up, but it's MUCH closer to the "10 percent" figures quoted as inflation than anything close to what you have said. Where do you live and shop?
    - Supermancho 4y ago
      > I got 3.5 pounds of steak tips for $20 about a month ago. A lot of cattle was recently liquidated (made into meat products, this year) as grazing fields have been drying up and, due to climate change, meat pipelines have had to start making MAJOR changes.
- yamtaddle 4y ago
  IIRC the giant flats of Costco eggs went up to 3-4x their former price over the last year or so. Still a great deal, they're just not "holy shit that's practically free!" like before.
  - njarboe 4y ago
    Do you happen to live in California? If so, most of the egg price increase is likely due to compliance with Prop 12 regulations.
    - yamtaddle 4y ago
      Nope, midwest.
  - UncleMeat 4y ago
    Weird. Eggs by the dozen (along with onions, one of the most volatile staples at the grocery store) are up only like 75% for me. Admittedly that's a lot and more than I had expected when I went and checked but I'm still seeing very different numbers.
    - yamtaddle 4y ago
      I'm not sure other eggs are up as much as those large-flat Costco ones (60 eggs? Something like that). I have a feeling they were losing money on them before, they were so cheap.
    - pessimizer 4y ago
      Another datapoint: eggs are up 3-4x for me in Chicago.

Quite literally what happened. My groceries cost over twice as much.

by donatj 4y ago

Quite literally what happened. My groceries cost over twice as much.

benj111 4y ago

It isn't literally what happened because that would be equivalent to your groceries costing 4 times as much.

Zanfa 4y ago

Ignoring the fact that you’re implying a 100% USD inflation over the past year, you’d only have 25% of the purchasing power if you “invested” in BTC per the GPs example.

sp332 4y ago
"Inflation" is an average of several things. Actual inflation doesn't have to be even across all items. Groceries went up more than other things. Edit: some examples https://www.ers.usda.gov/data-products/food-price-outlook/summary-findings/ https://www.ers.usda.gov/data-products/food-price-outlook/su... Retail egg prices went up 38% from July 2021 to July 2022.
- the_gastropod 4y ago
  Yes. And eggs are the highest increase on that list, at 38%—still a far cry from 100%. Comparatively, fresh fruits are down 0.8%, and fresh veggies up only 0.8%.

UncleMeat 4y ago

I cannot think of a single individual item that I buy at the grocery store that has doubled, let alone more than doubled.

donatj 4y ago
Cereal and butter. A box of cereal is $7+ now, whereas it was $4 not long ago. A pack of butter was $2.50 and now close to $5.
- Bud 4y ago
  Butter actually wasn't $2.50 at any point in the recent past. This is easy to track. https://fred.stlouisfed.org/series/APU0000FS1101 https://fred.stlouisfed.org/series/APU0000FS1101 So of the two items you cherry-picked to support an assertion that groceries have more than doubled, one is up...around 30-35%. In fact, there doesn't appear to be a single food item in this list that has doubled in the past year. Eggs are the closest. https://www.bls.gov/regions/mid-atlantic/data/averageretailfoodandenergyprices_usandwest_table.htm https://www.bls.gov/regions/mid-atlantic/data/averageretailf...
  - Supermancho 4y ago
    Well butter prices have gone up almost 100% - https://www.ams.usda.gov/mnreports/dywabutter_cme.pdf https://www.ams.usda.gov/mnreports/dywabutter_cme.pdf https://www.globaldairytrade.info/en/product-results/butter/ https://www.globaldairytrade.info/en/product-results/butter/ But that's not the whole story. Prices are not primarily set by wholesale costs for many goods. I think cereal has only gone up 30%, although there have been other events that influenced Kellogs pricing (notice how the Poptarts boxes have changed slightly) and then there has been the opportunity to steal away some extra profit - https://www.wxyz.com/news/now-cereal-prices-are-on-the-rise-and-experts-say-inflation-will-stick-around https://www.wxyz.com/news/now-cereal-prices-are-on-the-rise-... (search for "Mills").
- mrguyorama 4y ago
  Meanwhile pork and chicken are roughly the same as they've always been where I am, at least ignoring sale pricing. Hell, I got 3.5 pounds of steak tips for $20 about a month ago. My food costs have absolutely gone up, but it's MUCH closer to the "10 percent" figures quoted as inflation than anything close to what you have said. Where do you live and shop?
  - Supermancho 4y ago
    > I got 3.5 pounds of steak tips for $20 about a month ago. A lot of cattle was recently liquidated (made into meat products, this year) as grazing fields have been drying up and, due to climate change, meat pipelines have had to start making MAJOR changes.
yamtaddle 4y ago
IIRC the giant flats of Costco eggs went up to 3-4x their former price over the last year or so. Still a great deal, they're just not "holy shit that's practically free!" like before.
- njarboe 4y ago
  Do you happen to live in California? If so, most of the egg price increase is likely due to compliance with Prop 12 regulations.
  - yamtaddle 4y ago
    Nope, midwest.
- UncleMeat 4y ago
  Weird. Eggs by the dozen (along with onions, one of the most volatile staples at the grocery store) are up only like 75% for me. Admittedly that's a lot and more than I had expected when I went and checked but I'm still seeing very different numbers.
  - yamtaddle 4y ago
    I'm not sure other eggs are up as much as those large-flat Costco ones (60 eggs? Something like that). I have a feeling they were losing money on them before, they were so cheap.
  - pessimizer 4y ago
    Another datapoint: eggs are up 3-4x for me in Chicago.