Latest Inflation Data and report

[daylatedollarshort]

I just got back from the grocery store. Something else goes up with every trip. This time, the soup I get was up 33%. I only wish I had seen the lower 7.5% inflation projected in the CPI than what I'm seeing in real world costs

I think supermarket and processed food prices are increasing more than inflation. At least one politician has complained about grocery store chains claiming record profits during the pandemic. Canned soup prices haven't changed much at the discount stores I shop at, and the sale prices are still the same. But if I didn't buy canned soup during sales and at discount stores and did my shopping at Safeway regular prices, I'm sure I'd see much more inflation.

I usually make a big batch of home made soup every few days with a lot of veggies that cost 50 cents to $1 a pound and maybe a little chicken, tofu or rice noodles. Where we shop summer squash is 2 pounds for $1, organic carrots are $1 a pound, onions are 2 pounds for $1, and asparagus is $1.50 a bunch. The asparagus used to be $1, so that did go up, but it is still pretty cheap. Home made soup with ingredients like that doesn't cost much to make, plus I make it in a thermal cooker, which cooks mainly with retained heat and doesn't use much energy.

 

[Freedom56]

Our food bills for 2 folks, and we do not skimp on poor quality food, have been as follows from September 2021 to present are: $361, $406, $382, $437, $340 and $202 so far this month. This does not include grog.

Our food bill in Florida from January 10th through February 14th has been $622 (for two) with about 70% spent at Costco and the balance at Publix. This excludes dining out, alcohol, and dinner with guests. We normally spend about $380-$420 per month in California for groceries (mostly Costco and some at Vons/Safeway). We are not big eaters and are both slim or very slim by today's standards. We do eat a lot of fresh fish and sea food which is extremely expensive in Florida when compared to California. We rarely eat red meat.

 

[GenXguy]

Canned soup prices haven't changed much at the discount stores I shop at

I would have said the same thing had someone asked me yesterday. Just saw this big jump today. But, that's just this grocery trip's example. It's aways something. I make crock-pot stews and such sometimes also. Food is less than 15% of my budget, so that's not what's really driving up my costs (per previous posts).

 

[MrsHaloFIRE]

We are spending $500plus a month on groceries atvwalmart per month in 2 adults. We dont skimp on meat/organics. But we are considering pivoting some to the commissary bc the high end breads we eat are $1.50 plus cheaper per loaf. Fairlife milk $2 cheaper per container. For things we use housebrand example garlic salt WM still better.

 

[Chuckanut]

My main concern is for my children. They already have been priced out of the housing market in my area. Continue inflation that is far in excess over what they can earn on savings, just sets them back more. Frankly, I am disgusted.

 

[tulak]

My main concern is for my children. They already have been priced out of the housing market in my area. Continue inflation that is far in excess over what they can earn on savings, just sets them back more. Frankly, I am disgusted.

I can relate. I’m in the same area and kids are doing well, but maybe not well enough for this area. It is frustrating.

 

[Samsung4321]

Eat unprocessed - cheaper and less damaging to health:

Brown flax seed ( linseed ) ground 30 g, moistened with canola oil 15 g.

Energy ~ 1.2 MJ, ~ 15% daily energy requirement.

Cost ~$0.10 / serving.

Both components contain substantial concentrations of Alpha-Linolenic Acid. Linseed (and canola seed) contain substantial protein, fibre and less carbohydrate than wheat, rice - much less glycemic.

Bland taste. 'Fuel Food'.

USA food groceries cost ~ $400 / mth. Just one change - adopting 'Fuel Food' - reduces that grocery cost by nearly 15% = -$60. Food inflation and inflammation replaced by food disinflation and dis-inflammation.

Aus inflation (cpi) ~3%. Dairy items constant low price for years now up ~10%. All groceries for 2 $A60 / w = $A260 / mth.

 

[JoeWras]

My gut says we'll all experience the current inflation differently and notice its ill effects at different times. While I've seen dozens of "little" inflationary changes over the past year, none have been dramatic (if you don't add up all the little changes.) BUT when forced to buy a washer/dryer or a used car or hire labor, it suddenly hits you that things really are way more expensive now. YMMV

My wake up call was last year in getting an HVAC unit. I "just did it" despite the shock. Glad I did, it only got worse.

Today I get roof quotes. Should be "interesting."

 

[Badger]

I usually make a big batch of home made soup every few days with a lot of veggies that cost 50 cents to $1 a pound and maybe a little chicken, tofu or rice noodles. Where we shop summer squash is 2 pounds for $1, organic carrots are $1 a pound, onions are 2 pounds for $1, and asparagus is $1.50 a bunch. The asparagus used to be $1, so that did go up, but it is still pretty cheap. Home made soup with ingredients like that doesn't cost much to make...

+1 The prices I pay may be a bit higher but the end result is the same. We have always cooked the vast majority of our meals at home. We like an occasional (read very rare) meal out but prefer the quality, cleanliness, and healthier meals at home. Soup is an especially good choice in colder weather and as you state it can be very inexpensive as well as healthy. The only canned soup we buy is chicken or beef broth that we stock up on when on sale unless we make our own from the chicken carcass. Rice, pasta or barley make good inexpensive additions too. Any beef, chicken, or pork left overs can be used in soup for a quick tasty meal. How difficult is it when all you have to do is cut up some veggies and a protein and boil them in some stock with a few spices/herbs. I can make a huge pot of soup that can feed six for about $10. Great inflation fighter.


Cheers!

 

[misanman]

GS is trying to buy his first house. He's to be commended for saving a lot to do this but he has put in list price or above offers on about six houses and lost out to bids that are $25K to $40K above asking. He's getting pretty discouraged as he can't save fast enough to catch up.

 

[CaptTom]

My main concern is for my children. They already have been priced out of the housing market in my area. Continue inflation that is far in excess over what they can earn on savings, just sets them back more. Frankly, I am disgusted.

I totally agree about housing. Locals here can't afford to buy a house or condo. They're all being snatched up by investment bankers and tech bros from the cities to our South.


For everything else, though, wages seem to be at least keeping up with inflation. This is a very significant change from when I was working. Back then it was an employers' market and they did exactly what they could get away with; cutting benefits and offering miserly wage increases below the rate of inflation every year.



That seems to have totally turned around. Employees are in the driver's seat now. Employers will do anything to attract and retain good employees.

 

[Magus]

PPI up a full point today, core up 0.9%, both double expectations. Anyone that thinks inflation is about to roll over here is smoking some good stuff.

 

[Chuckanut]

My main concern is for my children. They already have been priced out of the housing market in my area. Continuing inflation that is far in excess over what they can earn on savings, just sets them back more. Frankly, I am disgusted.

FWIW, when I say the housing market, I am including descent rental apartments with a few amenities but nothing luxurious.

 

[ShokWaveRider]

PPI up a full point today, core up 0.9%, both double expectations. Anyone that thinks inflation is about to roll over here is smoking some good stuff.

Agreed, it is here for a while, we knew that 6 months ago, folks need to stop kidding themselves.

 

[marko]

With oil being such a big component of the cost of most goods, I wonder if temporarily relaxing some of the recent oil regulations would work more effectively than looking to the Fed and money supply.

We're back to almost $100 a barrel. That has to hit just about everything we consume.

 

[luckydude]

PPI up a full point today, core up 0.9%, both double expectations. Anyone that thinks inflation is about to roll over here is smoking some good stuff.

The FED is smoking some really good stuff right now. I want some too.

 

[GenXguy]

How difficult is it when all you have to do is cut up some veggies and a protein and boil them in some stock with a few spices/herbs. I can make a huge pot of soup that can feed six for about $10. Great inflation fighter.
Cheers!

Great inflation fighter? Sounds like a loser to me. Time is money, and you spend a lot more time doing that than it takes me to heat up a can of soup, for just me.

And if you ignore the time spent, you're still not saving money. Now that the can of soup has gone up to $1.98, that's still 99 cents per serving since there's 2 servings per can. Your 6 for $10 is about $1.67 per serving, plus the extra time. Time is money. I'm not seeing how that is a great inflation fighter in any way. Most of my higher spending that accounts for the 15% to 20% increased spending is not on food, anyway. I'm already quite frugal, trying to catch sales and get good deals in general, plus I spend very little on discretionary, although I was hoping to increase my discretionary allotment considerably when I retire until inflation hit so hard. I've delayed retirement for at least one more year, but that won't make up for the devaluation of my investments/savings from inflation vs. what the same dollars would have bought a year or two ago. I wish it was as easy as preparing my own soup, but lol, not quite.

 

[Fermion]

Great inflation fighter? Sounds like a loser to me. Time is money, and you spend a lot more time doing that than it takes me to heat up a can of soup, for just me.

And if you ignore the time spent, you're still not saving money. Now that the can of soup has gone up to $1.98, that's still 99 cents per serving since there's 2 servings per can. Your 6 for $10 is about $1.67 per serving, plus the extra time. Time is money. I'm not seeing how that is a great inflation fighter in any way. Most of my higher spending that accounts for the 15% to 20% increased spending is not on food, anyway. I'm already quite frugal, trying to catch sales and get good deals in general, plus I spend very little on discretionary, although I was hoping to increase my discretionary allotment considerably when I retire until inflation hit so hard. I've delayed retirement for at least one more year, but that won't make up for the devaluation of my investments/savings from inflation vs. what the same dollars would have bought a year or two ago. I wish it was as easy as preparing my own soup, but lol, not quite.

not to mention the other products needed to clean up after making a homemade soup....water and electricity needed to clean the pots, knives and cutting board, energy needed to cook the protein, paper towels for drying.

But quality of life, the homemade soup is generally better tasting and maybe lower amounts of preservatives.

 

[GenXguy]

PPI up a full point today, core up 0.9%, both double expectations. Anyone that thinks inflation is about to roll over here is smoking some good stuff.

Definitely not expecting that anytime soon. Heck, I never believed it when they were saying many months ago that it was "transitory" or that "prices will come back down." And even if inflation drops to say 3% in a few years, that doesn't mean prices will come back down on most things, but rather they will still increase, only not as quickly as they are now. I've got a nice stash and 6 figure income in a fairly low cost of living area, and it hurts me since I'm wanting to retire soon. It's really got to be a killer for a lot of people who are just scraping by as it is.

 

[tb001]

We’ve definitely felt it at the grocery store. But as Shockwave said, the extra there isn’t going to make or break us.

But energy costs for us, in particular gas, doubled this December. The bill was shocking, but I hoped it was mainly due to a colder than usual month. But January bill came this morning and while it’s not quite double, it’s close. Luckily we’re in a temperate area, but it’s a significant extra spend for us.

The rest seems to be in labor and consumer products. We hire help around the house and the labor costs have gone up ~30%. Similar increases on home purchases we’ve been debating over the last few years. Obviously these things are discretionary, but we feel the impact.

 

[aja8888]

Great inflation fighter? Sounds like a loser to me. Time is money, and you spend a lot more time doing that than it takes me to heat up a can of soup, for just me.

And if you ignore the time spent, you're still not saving money. Now that the can of soup has gone up to $1.98, that's still 99 cents per serving since there's 2 servings per can. Your 6 for $10 is about $1.67 per serving, plus the extra time. Time is money. I'm not seeing how that is a great inflation fighter in any way. Most of my higher spending that accounts for the 15% to 20% increased spending is not on food, anyway. I'm already quite frugal, trying to catch sales and get good deals in general, plus I spend very little on discretionary, although I was hoping to increase my discretionary allotment considerably when I retire until inflation hit so hard. I've delayed retirement for at least one more year, but that won't make up for the devaluation of my investments/savings from inflation vs. what the same dollars would have bought a year or two ago. I wish it was as easy as preparing my own soup, but lol, not quite.

Well, time may be money to you if you are still working, but us retirees seem to have a lot of FREE time. So making soup is not only a good idea, but it fills the FREE time!

I made 8 quarts of Texas chili last week and it filled my day.

 

[daylatedollarshort]

Great inflation fighter? Sounds like a loser to me. Time is money, and you spend a lot more time doing that than it takes me to heat up a can of soup, for just me.....I wish it was as easy as preparing my own soup, but lol, not quite.

Canned soup is actually pretty expensive on a cost per calorie basis. If a can of soup is $2 and has 200 calories, you are paying $1 per 100 calories. If you need 2K calories a day, then eating foods like that would cost $20 a day to eat for one person, or $600 a month. And canned soup usually has a lot of cheap filler foods like barley, potatoes or noodles, is high in salt and has BPA from the can. My target budget is $6 a day person and that is with a lot of organic produce, and organic meat and wild caught fish. The soup de jour at our house had seaweed, tofu, okra, green beans, corn, carrots, jicama, cabbage, shiitake mushrooms, button mushrooms, celery and bean threads, most of it organic.

At least some of the posters here who have mentioned they aren't impacted that much by inflation are retired and have time to price shop, cook from scratch and probably a hundred other little things that all add up. Like gas has gone up but we are retired, live in an urban area with everything close by, we can walk for some of our errands, and don't commute to work, so we haven't even bought any gas in 2022 so far. For households like ours, Social Security has gone up more than our recurring expenses.

I'm am sure we will pay more for one time purchases like our home improvement projects for the year, but our increased TIPS income will cover those.

 

[GravitySucks]

Something I never see mentioned is the Dollar dropping over 5% vs. the Yuan. We import so much that the Dollar drop must count toward increased prices.

 

[GenXguy]

Canned soup is actually pretty expensive on a cost per calorie basis. If a can of soup is $2 and has 200 calories, you are paying $1 per 100 calories. If you need 2K calories a day, then eating foods like that would cost $20 a day to eat for one person, or $600 a month.

Like I said, I only mentioned soup going up because that was the thing that I saw jump in price significantly on my latest grocery trip. Soup is not a primary meal, maybe a couple cans in one week and then not at all for weeks. I didn't intend to start a detailed soup discussion. It will be something else on my next shopping trip.

And canned soup usually has a lot of cheap filler foods like barley, potatoes or noodles, is high in salt and has BPA from the can.

These are supposedly BPA-free, and I always buy the low sodium if available, not that it's as healthy for you as making from scratch. I did mention that I make stews from scratch sometimes, not organic, and I usually do that in a large enough quantity that I'll get several servings out of it. I'll have to look more into cheap food preparation when I retire. I'm not wanting 2000 calories, though. That's way too much for me except maybe in the summer when I'm biking a lot.

and don't commute to work, so we haven't even bought any gas in 2022 so far. For households like our, Social Security has gone up more than our recurring expenses.

I was planning to retire about 7 years before collecting SS, so I won't have that nice dual income overlap. But the increases in SS wouldn't make much of a dent on the total increase I'm seeing.

I'm am sure we will pay more for one time purchases like our home improvement projects for the year, but our increased TIPS income will cover those.

I have a lot of home maintenance needing done soon, like next two or three years (roof, HVAC, deck, flooring, and more), and some appliances need replaced much sooner. And I have ongoing sinking funds in the budget to account for those expenses over the long term, over every year, not just the year that I do them rather than saying they are covered by an emergency fund or a specific investment or such trying to artificially decrease my budget. So while I'm not doing all those things now, I've had to significantly increase the sinking fund budgeted dollars to account for very high inflation on these items. I notice a lot people don't consider that a budgeted expense if they aren't actually doing those things in the current year. But sinking funds for those types of things are common also, which is what I do.

 

[jazz4cash]

We’ve definitely felt it at the grocery store. But as Shockwave said, the extra there isn’t going to make or break us.

But energy costs for us, in particular gas, doubled this December. The bill was shocking, but I hoped it was mainly due to a colder than usual month. But January bill came this morning and while it’s not quite double, it’s close. Luckily we’re in a temperate area, but it’s a significant extra spend for us.

The rest seems to be in labor and consumer products. We hire help around the house and the labor costs have gone up ~30%. Similar increases on home purchases we’ve been debating over the last few years. Obviously these things are discretionary, but we feel the impact.

I've been advocating for the Gas and Electric Choice Programs in my home state. Noone I know seems to think it is worthwhile. I wasn't sure if I was still under contract so I had to dig out my paperwork....I am locked in for 2 more years. Out of curiosity, I checked the current rates for gas and it is still possible to lock in a good rate for 3-6 months and even 12 month rates are cheaper than the local utility rate which is jumping every month. I have been lucky to have taken advantage of this inflation hedge.