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Prices are out of control on things people need to live. Food is 50% more expensive than it was 5 years ago.

mtmail 2y ago
Isn't inflation measure by comparing a set of product prices (including petrol and food, https://usafacts.org/articles/what-is-inflation-and-how-is-it-measured/ https://usafacts.org/articles/what-is-inflation-and-how-is-i...)? And the inflation graph in the article shows that inflation is down to about 3%, from a high of 9% in 2022. I know it's compounding but 50% seems a lot.
- giorgioz 2y ago
  Claiming the economy is up 3% is such a small number compared to the massive inflation we had. Inflation is hard to measure and frankly 3% over a 50%-100% inflation seem easily an approximation mistake. Governments constantly try to underplay a recession/inflation because if people knows there is recession/high inflation the thing spirals even in a deeper recession/high inflation. I believe we lost a lot of purchase power. I don't blame a specific Administration or someone richer. Simply we printed a ton of money as economic stimulus during covid to balance the fact that we kept people at home. I'm not saying it was a bad choice either. But simply now we are paying the price of saving millions of lives from covid and fighting Ukrainian invasion. They were worth it but there is a cost we are repaying now in the form of less purchase power.
  - pfannkuchen 2y ago
    > if people knows there is recession/high inflation the thing spirals even in a deeper recession/high inflation It’s kind of funny how this is baked into the economic orthodoxy. It’s definitely not that admitting a recession or high inflation makes the people in power look bad, no no, us not admitting it is actually good for you and you should thank us!
- devmor 2y ago
  50% seems about right to me. Wife and I used to spend around $350/mo in groceries pre-covid. Now we would have to spend a little over $500 for the same food.
  - giorgioz 2y ago
    Bought a house in Spain for 360k which was purchased two years before for 240k. Spain doesn't have a very fast-moving real estate market lime in the US so that change was quite special. So the inflation of homes in Spain could be 50% or more.
  - xenospn 2y ago
    I’m a single guy and buy mostly veggies and fruit and I still can not believe how expensive it has become. I’m spending hundreds more every month.
- SAI_Peregrinus 2y ago
  Inflation is the first derivative of prices (when that is positive, when it's negative it's deflation). So as long as inflation remains positive, prices will never drop. Current economic theory maintains that the first derivative of prices must never become negative (no deflation), since that encourages saving money and slows the economy resulting in more deflation.
- Am4TIfIsER0ppos 2y ago
  The government lies by taking items out of the "basket", like coffee last week, and adding in cheapening items such as TVs, as though you're gonna buy a new 4K TV when your grocery bill has skyrocketed. BTW 50% increase over 5 years is only 8% annually

Isn't inflation measure by comparing a set of product prices (including petrol and food, https://usafacts.org/articles/what-is-inflation-and-how-is-it-measured/ https://usafacts.org/articles/what-is-inflation-and-how-is-i...)? And the inflation graph in the article shows that inflation is down to about 3%, from a high of 9% in 2022. I know it's compounding but 50% seems a lot.

giorgioz 2y ago
Claiming the economy is up 3% is such a small number compared to the massive inflation we had. Inflation is hard to measure and frankly 3% over a 50%-100% inflation seem easily an approximation mistake. Governments constantly try to underplay a recession/inflation because if people knows there is recession/high inflation the thing spirals even in a deeper recession/high inflation. I believe we lost a lot of purchase power. I don't blame a specific Administration or someone richer. Simply we printed a ton of money as economic stimulus during covid to balance the fact that we kept people at home. I'm not saying it was a bad choice either. But simply now we are paying the price of saving millions of lives from covid and fighting Ukrainian invasion. They were worth it but there is a cost we are repaying now in the form of less purchase power.
- pfannkuchen 2y ago
  > if people knows there is recession/high inflation the thing spirals even in a deeper recession/high inflation It’s kind of funny how this is baked into the economic orthodoxy. It’s definitely not that admitting a recession or high inflation makes the people in power look bad, no no, us not admitting it is actually good for you and you should thank us!
devmor 2y ago
50% seems about right to me. Wife and I used to spend around $350/mo in groceries pre-covid. Now we would have to spend a little over $500 for the same food.
- giorgioz 2y ago
  Bought a house in Spain for 360k which was purchased two years before for 240k. Spain doesn't have a very fast-moving real estate market lime in the US so that change was quite special. So the inflation of homes in Spain could be 50% or more.
- xenospn 2y ago
  I’m a single guy and buy mostly veggies and fruit and I still can not believe how expensive it has become. I’m spending hundreds more every month.
SAI_Peregrinus 2y ago
Inflation is the first derivative of prices (when that is positive, when it's negative it's deflation). So as long as inflation remains positive, prices will never drop. Current economic theory maintains that the first derivative of prices must never become negative (no deflation), since that encourages saving money and slows the economy resulting in more deflation.
Am4TIfIsER0ppos 2y ago
The government lies by taking items out of the "basket", like coffee last week, and adding in cheapening items such as TVs, as though you're gonna buy a new 4K TV when your grocery bill has skyrocketed. BTW 50% increase over 5 years is only 8% annually