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I posted on this last year, however that post was hijacked into feeding extra rib eye steaks to your dogs.
The idea being that CPI measures actual changes in the price of a basket of products, but inflation that isnt measured happens when products are cheapened or reduced in quality or quantity, yet the price remains the same.
Last year I noted that my favorite bbq joint started charging 50c for extra sauce. Most of the places in the food court at the mall stopped giving free drink refills. Beer coming in 10 and 11oz bottles that used to be 12. Dog food that used to be in 16oz cans now coming in 14oz. And so on.
We've had plenty of stories of customer service being reduced to the point where its little more than a waste of time to get help for a product. CPI doesnt measure having to spend hours of your own time fixing a problem or trying to get a manufacturer to resolve a product issue, or time spent in a return line. Thats a cost drag, it just isnt measured by the CPI.
It continues, in interesting little dribs and drabs.
My favorite mexican place used to serve a big scoop of guacamole with all their meals and Gabe likes guac, so thats usually his lunch when we eat there. No more guac, its gone from the plate but can be had for a buck extra now. One of the local steak places has a 'steak tips in mushroom sauce served over rice pilaf' that I like to get. Over the last year I've noted the steak tips getting fewer and thinner and the mushrooms getting more plentiful. Lately both are receding and being replaced with more sauce.
I installed a screen door today. These used to have a metal 'U" channel on one side and on the bottom to adjust the door to fit the door frame. The bottom metal "U" channel on this one was apparently recently replaced with a thin plastic strip you're supposed to screw to the bottom of the door...that'll last about 2 weeks before its broken off...the instructions still note the adjustment of the U channel on the bottom thats no longer there.
I'm not sure how far these 'screws' can be turned. I cant imagine customer service getting any worse. Seems product quality and quantity is being noticeably reduced, at least in things I buy and use.
Is there a cost drain here that is going to eventually hit bottom, at which point prices will dramatically increase?
The idea being that CPI measures actual changes in the price of a basket of products, but inflation that isnt measured happens when products are cheapened or reduced in quality or quantity, yet the price remains the same.
Last year I noted that my favorite bbq joint started charging 50c for extra sauce. Most of the places in the food court at the mall stopped giving free drink refills. Beer coming in 10 and 11oz bottles that used to be 12. Dog food that used to be in 16oz cans now coming in 14oz. And so on.
We've had plenty of stories of customer service being reduced to the point where its little more than a waste of time to get help for a product. CPI doesnt measure having to spend hours of your own time fixing a problem or trying to get a manufacturer to resolve a product issue, or time spent in a return line. Thats a cost drag, it just isnt measured by the CPI.
It continues, in interesting little dribs and drabs.
My favorite mexican place used to serve a big scoop of guacamole with all their meals and Gabe likes guac, so thats usually his lunch when we eat there. No more guac, its gone from the plate but can be had for a buck extra now. One of the local steak places has a 'steak tips in mushroom sauce served over rice pilaf' that I like to get. Over the last year I've noted the steak tips getting fewer and thinner and the mushrooms getting more plentiful. Lately both are receding and being replaced with more sauce.
I installed a screen door today. These used to have a metal 'U" channel on one side and on the bottom to adjust the door to fit the door frame. The bottom metal "U" channel on this one was apparently recently replaced with a thin plastic strip you're supposed to screw to the bottom of the door...that'll last about 2 weeks before its broken off...the instructions still note the adjustment of the U channel on the bottom thats no longer there.
I'm not sure how far these 'screws' can be turned. I cant imagine customer service getting any worse. Seems product quality and quantity is being noticeably reduced, at least in things I buy and use.
Is there a cost drain here that is going to eventually hit bottom, at which point prices will dramatically increase?