Examples of current inflation - add yours!

My daughter has had her rent go from $1200/mo to $1600/mo in 3 years. She decided to buy a house so her rent stops going up. Very proud of her because she realized that and she bought a house that was within her budget and saved 20% for a down payment. I cautioned her on the added expenses of home ownership but I was overridden by momma because my daughter bought a house just down the street. Guess who's honey do list just got a lot longer?
You are lucky she lives so close. My daughter lives a half hour away and I can’t say no to her puppy dog eyes.
 
believe the true inflation metric is hours/purchase
I know very few people who got a 45%-100% pay raise. Yet that's how much actual food prices, in actual grocery stores, went up over that time period.

Now, I don't know where those ivory-tower economists in government an academia shop, but it ain't anywhere around here.

Still mad about prices? I never was. There's absolutely no point in getting mad about things you can't control. Prepare the best you can ahead of time, and deal with it when it happens. But that doesn't mean I'm going to pretend it didn't happen.
 
I know very few people who got a 45%-100% pay raise. Yet that's how much actual food prices, in actual grocery stores, went up over that time period.

Now, I don't know where those ivory-tower economists in government an academia shop, but it ain't anywhere around here.

Still mad about prices? I never was. There's absolutely no point in getting mad about things you can't control. Prepare the best you can ahead of time, and deal with it when it happens. But that doesn't mean I'm going to pretend it didn't happen.
That is why I prefer the statistics to the anecdotes. I know lots of people who got a 45%-100% pay raise. I live in VA and the minimum wage is up 65% since 2019 so that is reflective of what has been happening here.

Me - 41% increase
Daughter 1 - 66% increase
Daughter 2 - 100% increase
Son in law - 80% increase plus benefits
People that I trained a work - Left for 30-40% raises in 2021
Etc.
Social Security is compounded plus 29.7%

I currently spend $679 per month on groceries and it is not anywhere near a 100% increase since 2019. I can buy:

Chicken drumsticks - $1.19 vs. .99 in the past - 20%
Average Chicken Price - $1.99 vs. $1.50 in 2019 - 33%
Chicken at Costco - $4.99 vs. $4.99 - 0%
Dry Pasta - $.99 per pound - probably cheaper than 2019
Hamburger - $1.99 to $3.99 so that is 100% - have to shop on sale now
Apples - $1.99 per pound vs. $1.99 - 0% - currently $.99 per pound in season
etc.

On average national salaries have kept pace with national grocery spending for the same basket of goods. That is not meant to diminish the people who have not kept pace, but I believe it is important to understand what is actually happening when evaluating policy or predicting what the Fed is going to do.
 
You miss the point, and I guess prove the point. Prices are up, but so are wages.
No, you missed my point. I specifically said I wasn't working, and my income has NOT gone up at all. And none of the people I know have not had wages that even kept up with high inflation unless they had a major job change. Like I said, many things are double, yet my total savings barely changes while it took years for the S&P 500 to recover plus the CD's during the early pandemic were paying way way less than inflation. And on top of that, because of the growth of CDs and stocks/dividends, I've just had to pay more taxes and push me into situations that cause me to pay much higher healthcare premiums as well. It's really a very bad thing - this is a different world we live in today. I don't get it when people try to pretend otherwise because "some" people got 4% wage increases to deal with 50% to 100% higher TRUE inflation over the last several years. lol :LOL:
 
That is why I prefer the statistics to the anecdotes. I know lots of people who got a 45%-100% pay raise. I live in VA and the minimum wage is up 65% since 2019 so that is reflective of what has been happening here.

Me - 41% increase
Daughter 1 - 66% increase
Daughter 2 - 100% increase
Son in law - 80% increase plus benefits
People that I trained a work - Left for 30-40% raises in 2021
Etc.
Social Security is compounded plus 29.7%

I currently spend $679 per month on groceries and it is not anywhere near a 100% increase since 2019. I can buy:

Chicken drumsticks - $1.19 vs. .99 in the past - 20%
Average Chicken Price - $1.99 vs. $1.50 in 2019 - 33%
Chicken at Costco - $4.99 vs. $4.99 - 0%
Dry Pasta - $.99 per pound - probably cheaper than 2019
Hamburger - $1.99 to $3.99 so that is 100% - have to shop on sale now
Apples - $1.99 per pound vs. $1.99 - 0% - currently $.99 per pound in season
etc.

On average national salaries have kept pace with national grocery spending for the same basket of goods. That is not meant to diminish the people who have not kept pace, but I believe it is important to understand what is actually happening when evaluating policy or predicting what the Fed is going to do.
Services inflation is what has gone off the maps. Things like car repairs (local dealer mechanic rate of $250/hr here), call a plumber!, yards guys almost double of a few years ago, eating out, health care, insurances, cable costs, on and on. Grocery is back to 2019 from what I can tell.
 
I know very few people who got a 45%-100% pay raise. Yet that's how much actual food prices, in actual grocery stores, went up over that time period.
Right, along with many many big ticket expenses as well. I really can't think of anyone that got a pay increase like that except from a major promotion or starting a completely different job. Prior to my retirement in 2023 company actually reduced year pay increases to about 2%, heading in the opposite direction of inflation, and the fixed interest stable value fund started paying a lot less and charging fees it hasn't before, plus big hikes in the company insurance with a 10X deductibles (20X for regular in-network), really hitting us hard in multiple ways.

Grocery prices have stabilized some but still much higher than they used to be pre-pandemic, and with positive inflation, they're still going to go up on average.
 
That is why I prefer the statistics to the anecdotes. I know lots of people who got a 45%-100% pay raise. I live in VA and the minimum wage is up 65% since 2019 so that is reflective of what has been happening here.

Me - 41% increase
Daughter 1 - 66% increase
Daughter 2 - 100% increase
Son in law - 80% increase plus benefits
People that I trained a work - Left for 30-40% raises in 2021
Etc.
Social Security is compounded plus 29.7%

I currently spend $679 per month on groceries and it is not anywhere near a 100% increase since 2019. I can buy:

Chicken drumsticks - $1.19 vs. .99 in the past - 20%
Average Chicken Price - $1.99 vs. $1.50 in 2019 - 33%
Chicken at Costco - $4.99 vs. $4.99 - 0%
Dry Pasta - $.99 per pound - probably cheaper than 2019
Hamburger - $1.99 to $3.99 so that is 100% - have to shop on sale now
Apples - $1.99 per pound vs. $1.99 - 0% - currently $.99 per pound in season
etc.

On average national salaries have kept pace with national grocery spending for the same basket of goods. That is not meant to diminish the people who have not kept pace, but I believe it is important to understand what is actually happening when evaluating policy or predicting what the Fed is going to do.
I don't know a single person who earned raises like that. Most folks I know got 2% if they were lucky - at the same time that their employee health insurance premiums went up by 10-15% and deductibles/out of pocket limits shot up much higher.

I don't doubt the numbers you quoted, but you must live in a true wonderland for employees or everyone you know is an in-demand executive.

I hope you realize it's NOT the norm nationwide. Many folks are struggling and losing ground big time.
 
My daughter manages fast food joints and her employees went from $8 an hour pre covid to $12 an hour today. 50% increase.
 
I imagine they rasied thir prices enough to cover the higher wages + the cost of the increases in their supply costs. Double whammy.
 
Picked up the steel roofing for our second large carport yesterday. Forth sizeable steel order from this company less than two months from the last order. All of the trim piece prices went up 50%?
I had mentioned it should be our last order.
I had paid with a check on past orders.
This time I used a cc as I felt I was being fleeced!
 
I don't know a single person who earned raises like that. Most folks I know got 2% if they were lucky - at the same time that their employee health insurance premiums went up by 10-15% and deductibles/out of pocket limits shot up much higher.

I don't doubt the numbers you quoted, but you must live in a true wonderland for employees or everyone you know is an in-demand executive.

I hope you realize it's NOT the norm nationwide. Many folks are struggling and losing ground big time.
No, nothing unusual. Just people taking an active role in improving their income.

DD1 is an esthetician and moved to a more upscale spa - $60k - $100k
DD2 moved from retail to being a server - $15hr - $30hr - restaurant inflation helps servers
SIL went from front desk work at $12 to a leasing consultant at $22 plus full benefits and 40% off an apartment.
My employees rejected the 3% corporate standard and went from $52k to $75k. Probably making 6 figures now.
My employer saw the trend and paid me 40% more over the timeframe and I stayed, I am the only executive.

Post Covid is probably the second best employment market in my lifetime for increasing your income. Rivaled only by 1996-2000 internet run up where my salary more than doubled in 4 years.
 
No, nothing unusual. Just people taking an active role in improving their income.

DD1 is an esthetician and moved to a more upscale spa - $60k - $100k
DD2 moved from retail to being a server - $15hr - $30hr - restaurant inflation helps servers
SIL went from front desk work at $12 to a leasing consultant at $22 plus full benefits and 40% off an apartment.
My employees rejected the 3% corporate standard and went from $52k to $75k. Probably making 6 figures now.
My employer saw the trend and paid me 40% more over the timeframe and I stayed, I am the only executive.

Post Covid is probably the second best employment market in my lifetime for increasing your income. Rivaled only by 1996-2000 internet run up where my salary more than doubled in 4 years.
I was a Plant Manager of a manufacturing plant in Connecticut (the youngest in the Fortune 500 Company I worked at) in 1980 - 1981 and gave out 25% raises to almost everyone. But inflation was double figures and mortgages were 18% (top rate).

That was nothing like what happened recently in the face of lower inflation.
 
That is why I prefer the statistics to the anecdotes. I know lots of people who got a 45%-100% pay raise. I live in VA and the minimum wage is up 65% since 2019 so that is reflective of what has been happening here.

Me - 41% increase
Daughter 1 - 66% increase
Daughter 2 - 100% increase
Son in law - 80% increase plus benefits
People that I trained a work - Left for 30-40% raises in 2021
Etc.
Social Security is compounded plus 29.7%

I currently spend $679 per month on groceries and it is not anywhere near a 100% increase since 2019. I can buy:

Chicken drumsticks - $1.19 vs. .99 in the past - 20%
Average Chicken Price - $1.99 vs. $1.50 in 2019 - 33%
Chicken at Costco - $4.99 vs. $4.99 - 0%
Dry Pasta - $.99 per pound - probably cheaper than 2019
Hamburger - $1.99 to $3.99 so that is 100% - have to shop on sale now
Apples - $1.99 per pound vs. $1.99 - 0% - currently $.99 per pound in season
etc.

On average national salaries have kept pace with national grocery spending for the same basket of goods. That is not meant to diminish the people who have not kept pace, but I believe it is important to understand what is actually happening when evaluating policy or predicting what the Fed is going to do.
That is why I prefer the statistics to the anecdotes

And then, all you provide are anecdotes, and some how you feel yours must be superior to the others, because, of course, they prove your point.
 
Statistics:


Nominal wage growth graph from Economic Policy Institute, which is drawn from BLS statistics.


Inflation graph from Trading Economics, also drawn from BLS data


Compare the charts and you can see that, aside from some gyrations at the time of the Covid shutdown, rates of wage increases are generally synchronized with rates of inflation.
 
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That is why I prefer the statistics to the anecdotes

And then, all you provide are anecdotes, and some how you feel yours must be superior to the others, because, of course, they prove your point.
LOL. In no way. I just provided alternative anecdotes to the gloom and doom anecdotes to show how meaningless they are. The statistics are in the article I posted that I thought was interesting. I prefer that to anecdotes that have de minimis relevance in a population of 330 million people.
 
After a 25% rise in my auto insurance rates last year, my recently billed premium is up another 12%.

Medicare part D is up 1000%. With double the deductible, and higher copays.
Can you switch providers? I am! Next years costs look to be dropping.
 
Can you switch providers? I am! Next years costs look to be dropping.
I am going to look into that next month. It’s worth a try. If the costs are similar, at least I won’t feel like an idiot for not seeking out lower rates.

With insurance, one has to always consider what happens when they need to pay up. I’ll pay more to be with a company that has a good reputation in that area. There aren’t many in my neck of the woods
 
Statistics:


Nominal wage growth graph from Economic Policy Institute, which is drawn from BLS statistics.


Inflation graph from Trading Economics, also drawn from BLS data


Compare the charts and you can see that, aside from some gyrations at the time of the Covid shutdown, rates of wage increases are generally synchronized with rates of inflation.
This prompted to look up my percentages. I was downsized from a local Megacorp unexpectedly in March of 2022. It took me 9 weeks to find a j*b that interested me. I took a 32% pay cut, but went from a 15 minute (9 miles) commute to less than a 5 minute (2.5 miles) commute. Since then, I've gotten around a 58% increase in pay, bringing my hourly wage to more than I was making before, but probably about what I would have been making had I not been let go.

Looking back 5 years, my pay is up approximately 20% and our annual spending (still LBYM) is up around 20% so your statistics are accurate in my case.
 
I know very few people who got a 45%-100% pay raise. Yet that's how much actual food prices, in actual grocery stores, went up over that time period.

Now, I don't know where those ivory-tower economists in government an academia shop, but it ain't anywhere around here.

Still mad about prices? I never was. There's absolutely no point in getting mad about things you can't control. Prepare the best you can ahead of time, and deal with it when it happens. But that doesn't mean I'm going to pretend it didn't happen.
Groceries have skyrocketed here the past 3 years. I pay double to feed myself and had to eliminate or substitute items so as to bring the grocery bill down because I didn’t want to continue to pay double.
 
No, you missed my point. I specifically said I wasn't working, and my income has NOT gone up at all. And none of the people I know have not had wages that even kept up with high inflation unless they had a major job change. Like I said, many things are double, yet my total savings barely changes while it took years for the S&P 500 to recover plus the CD's during the early pandemic were paying way way less than inflation. And on top of that, because of the growth of CDs and stocks/dividends, I've just had to pay more taxes and push me into situations that cause me to pay much higher healthcare premiums as well. It's really a very bad thing - this is a different world we live in today. I don't get it when people try to pretend otherwise because "some" people got 4% wage increases to deal with 50% to 100% higher TRUE inflation over the last several years. lol :LOL:
Seems like the S&P has been doing fine, it went down twice in past 7 yrs and popped back the next year. We expect it to gyrate per year:

1728837931098.png
 
Seems like the S&P has been doing fine, it went down twice in past 7 yrs and popped back the next year. We expect it to gyrate per year:
The S&P 500 was down from January 2022 to June 2023, and that's without factoring in inflation, which was running very high. That's nearly a year and a half before setting a new high while inflation was high. And remember, the rates of CDs were very low in those early years while inflation started ramping up quickly, and even after Fed increases and rate increases on new CDs, you had to pay higher taxes on that income, even when you weren't truly gaining any purchasing power, plus took a hit or total loss on ACA subsidies due to what was income on paper just by trying to prevent losing purchasing power. It was bad in so many ways. For people who actually get wages, maybe 4% is better than nothing, and it's better than the 2% we got, but it doesn't overcome all of the inflation we have had going back to 2020.

The S&P 500 has had some good years after all that stimulus, but I'm going to pay for that on the back end in dividends and capital gains taxes, which I had previously expected to be able to shelter a lot of it in the 0% bracket, but the math doesn't look good anymore since I'm having to defer more income now due to the inflation and interest rates of recent years while keeping ACA healthcare affordable. It's a different world for me (and most people) now.
 
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Groceries have skyrocketed here the past 3 years. I pay double to feed myself and had to eliminate or substitute items so as to bring the grocery bill down because I didn’t want to continue to pay double.
Yeah, same here. Groceries and so many other things, including big ticket items like car & home insurance, property taxes, and any kind of home/car maintenance.
 
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