Earl E Retyre
Full time employment: Posting here.
- Joined
- Jan 1, 2010
- Messages
- 541
Interesting NY times calculator to define your rate of inflation.
https://www.nytimes.com/interactive/2022/05/08/business/economy/inflation-calculator.html
"Inflation is at the highest level in four decades. But how you experience it can vary greatly depending on what you eat, how much you travel and your other spending habits. Answer seven questions to estimate your personal inflation rate."
Our rate of inflation came out to 6.4%.
The questions are:
- did you buy a car in the last year?
- How much do you drive?
- How much do you travel?
- Are you a vegetarian?
- Do you heat your home with oil?
- How often do you eat out?
- Do you pay for school?
In our case, even though we see an increase in food prices at the grocery store, we do not eat a lot. One chicken breast (which costs a little over $2) will be a dinner. One steak (which probably averages about $10) will feed us a dinner. Where we see the highest increases are real estate taxes and costs of repair.
The calculator is obviously not going to be accurate but makes a good point that your personal rate of inflation can be much less than what they are saying inflation is.
https://www.nytimes.com/interactive/2022/05/08/business/economy/inflation-calculator.html
"Inflation is at the highest level in four decades. But how you experience it can vary greatly depending on what you eat, how much you travel and your other spending habits. Answer seven questions to estimate your personal inflation rate."
Our rate of inflation came out to 6.4%.
The questions are:
- did you buy a car in the last year?
- How much do you drive?
- How much do you travel?
- Are you a vegetarian?
- Do you heat your home with oil?
- How often do you eat out?
- Do you pay for school?
In our case, even though we see an increase in food prices at the grocery store, we do not eat a lot. One chicken breast (which costs a little over $2) will be a dinner. One steak (which probably averages about $10) will feed us a dinner. Where we see the highest increases are real estate taxes and costs of repair.
The calculator is obviously not going to be accurate but makes a good point that your personal rate of inflation can be much less than what they are saying inflation is.