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I think one of the hard parts about macro economic data is it can be very divorced from individuals experiences precisely because it takes into account all the

I think one of the hard parts about macro economic data is it can be very divorced from individuals experiences precisely because it takes into account all the highs and lows. When all the high inflation stuff was coming out I was baffled. My home expenses were essentially flat. And coming off of covid my savings and investments were stacked. But I wasn’t trying to buy a car and my mortgage was pre rate hikes, and I rarely drive and am in good health. It’s entirely possible there wasn’t any inflation for me.

lockhouse 3y ago
The grocery store and the gas pumps are where I feel inflation the most.
- lotsofpulp 3y ago
  Are you sure it is not your state’s gas taxes? https://fred.stlouisfed.org/series/GASREGCOVW https://fred.stlouisfed.org/series/GASREGCOVW Gas prices are not any higher than they were throughout the 2010s.
  - lockhouse 3y ago
    Gas prices under Biden are definitely higher than at any point during Trump's Presidency. There were points where gas was expensive during the "Dubya" and Obama administrations too. https://www.forbes.com/sites/rrapier/2023/03/08/average-gasoline-prices-under-the-past-four-presidents/?sh=1f99d39f64e6 https://www.forbes.com/sites/rrapier/2023/03/08/average-gaso...
    - deleted 3y ago
      [deleted]
  - fastaguy88 3y ago
    The fed chart is adjusted for inflation, so the numbers at the pump are higher. Do you have any reason to believe that gas taxes have increased in the past decade? The federal tax has not increased since 1993, and is not indexed for inflation.
    - lotsofpulp 3y ago
      Where do you see that the chart is adjusted for inflation? The prices match up with my memory of nominal prices, especially the spike in 2008. State gas taxes do change often. For example, Washington’s gas taxes went up at least $0.50 since Jan 1 (and it is variable based on the price carbon credits get auctioned at). https://ecology.wa.gov/blog/february-2022/the-climate-commitment-act-washington-s-path-to-ca https://ecology.wa.gov/blog/february-2022/the-climate-commit...
- supportengineer 3y ago
  Inflation at our favorite restaurants has been breathtaking.

lockhouse 3y ago

The grocery store and the gas pumps are where I feel inflation the most.

lotsofpulp 3y ago
Are you sure it is not your state’s gas taxes? https://fred.stlouisfed.org/series/GASREGCOVW https://fred.stlouisfed.org/series/GASREGCOVW Gas prices are not any higher than they were throughout the 2010s.
- lockhouse 3y ago
  Gas prices under Biden are definitely higher than at any point during Trump's Presidency. There were points where gas was expensive during the "Dubya" and Obama administrations too. https://www.forbes.com/sites/rrapier/2023/03/08/average-gasoline-prices-under-the-past-four-presidents/?sh=1f99d39f64e6 https://www.forbes.com/sites/rrapier/2023/03/08/average-gaso...
  - deleted 3y ago
    [deleted]
- fastaguy88 3y ago
  The fed chart is adjusted for inflation, so the numbers at the pump are higher. Do you have any reason to believe that gas taxes have increased in the past decade? The federal tax has not increased since 1993, and is not indexed for inflation.
  - lotsofpulp 3y ago
    Where do you see that the chart is adjusted for inflation? The prices match up with my memory of nominal prices, especially the spike in 2008. State gas taxes do change often. For example, Washington’s gas taxes went up at least $0.50 since Jan 1 (and it is variable based on the price carbon credits get auctioned at). https://ecology.wa.gov/blog/february-2022/the-climate-commitment-act-washington-s-path-to-ca https://ecology.wa.gov/blog/february-2022/the-climate-commit...
supportengineer 3y ago
Inflation at our favorite restaurants has been breathtaking.