11% inflation
timeOday
<http://www.reuters.com/article/domesticNews/idUSN1532573220071115>
WASHINGTON (Reuters) - U.S. consumers will pay 11 percent more for the
traditional Thanksgiving meal this year, due in part to higher energy
costs, the American Farm Bureau Federation said on Thursday.
---------------------------------------------------------------------
How do the official inflation figures stay so low? Food, gas, health
care, travel, all shooting up in price.
Anthony Matonak
These are statistics. Statistics can be manipulated.
In short, they cheat.
Anthony
231
Utterly mindless conspiracy theory.
** Frank **
"timeOday" <timeOda...@theknack.net> wrote in message
news:07OdnUOchozp0qPa...@comcast.com...
Isn't core inflation something like 2% excluding housing, food and whatever
else? Not too much inflation is good to impede recession.
I'm sick of having turkey year after year, so we're going to the in-laws for
Thanksgiving, German ox tail stew. Today wife did Asian deli takeout - flat
white noodle, roast duck and pork, Korean ribs, deep fried shrimps, BBQ
chicken, including a can of soda, etc. - all this for a whopping $8! This
would feed both of us for lunch and dinner, $2 per person per meal - how's
that for inflation?
nos...@nospam.com
Prices have gone up by more then 11%.
nos...@nospam.com
How about $1.14 for a 33cent can of evaporated milk.
Usene...@the-domain-in.sig
timeOda...@theknack.net says...
Easy - just don't include the food or energy when calculating the
official inflation rate.
--
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Usene...@the-domain-in.sig
nos...@nospam.com says...
> Prices have gone up by more then 11%.
It depends on the individual items being priced. Some things are
subject to lots of manipulation that goes far beyond the normal,
generalised inflation rate. And can go in both directions - up
or down.
The main example is petrol. That gets jerked around by all kinds
of factors. OPEC supply rates, currency exchange rates,
hurricanes threatening offshore drilling rigs, suppliers dumping
reserves onto the market, plus lots and lots of futures market
speculation.
Although, of course, higher fuel costs are passed on to some
extent, with increasing prices of everything that had to be
shipped a long distance.
But there are other things. In my area, there has recently been
a noticeable increase in the price of cheese. This is influenced
by the actions of a large dairy farmer's co-op, along with
international currency exchange rates effecting profits from
exports.
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Don Klipstein
>In article <07OdnUOchozp0qPa...@comcast.com>,
>timeOda...@theknack.net says...
>>
>> <http://www.reuters.com/article/domesticNews/idUSN1532573220071115>
>>
>> WASHINGTON (Reuters) - U.S. consumers will pay 11 percent more for the
>> traditional Thanksgiving meal this year, due in part to higher energy
>> costs, the American Farm Bureau Federation said on Thursday.
>>
>> ---------------------------------------------------------------------
>>
>> How do the official inflation figures stay so low? Food, gas, health
>> care, travel, all shooting up in price.
>
>
>Easy - just don't include the food or energy when calculating the
>official inflation rate.
The official CPI includes food and energy, and there is a separate "core
rate" excluding food and energy.
Now, reasons why the CPI underrepresents inflation:
Calculate the official inflation rate with full weighting of only what
all consumers pay entirely out of their own pocket. So if anyone has any
health insurance premiums paid by employers or tax money, then the price
of health insurance has reduced weighting on the consumer price index.
Same deal with college tuition - some of that is paid by tax money (Pell
grants, etc.) Employers and Treasury bond buyers are subsidizing
obscurement of these two hyperinflationary costs from the CPI.
Other tricks - like adding an item to the "consumer basket" after it had
a runup and is ripe for low inflation afterwards, like when mortgage
interest was added to the CPI basket during the Reagan Administration at a
time when interest rates were higher than ever afterwards.
And whatever the Boskin Commission got in for CPI definition updating
when the media was concentrating on Monica Lewinsky stuff instead.
- Don Klipstein (d...@misty.com)
Pili
DOMAIN-IN.SIG> wrote:
> In article <qldvj3dp54vstep8gp5rb4jf81b19sc...@4ax.com>,
> nos...@nospam.com says...
>
> > Prices have gone up by more then 11%.
>
> It depends on the individual items being priced. Some things are
> subject to lots of manipulation that goes far beyond the normal,
> generalised inflation rate. And can go in both directions - up
> or down.
>
> The main example is petrol. That gets jerked around by all kinds
> of factors. OPEC supply rates, currency exchange rates,
> hurricanes threatening offshore drilling rigs, suppliers dumping
> reserves onto the market, plus lots and lots of futures market
> speculation.
>
> Although, of course, higher fuel costs are passed on to some
> extent, with increasing prices of everything that had to be
> shipped a long distance.
>
> But there are other things. In my area, there has recently been
> a noticeable increase in the price of cheese. This is influenced
> by the actions of a large dairy farmer's co-op, along with
> international currency exchange rates effecting profits from
> exports.
>
> --
11% figure, they can do their own math. For various reasons, we're
not doing a full TG dinner this year. Last year, the turkey itself
was quite a bit more expensive than the year before, and no free
turkey offering from the GS. Year before that, I think, was the GS
strike, lots of free turkeys that year. This year, no free turkeys at
the stores near me.
Cheese is way up here. We buy 2 lb Tillamook bricks, not on sale, the
price is now $15. If you buy it in less than a pound pieces, it's
$8.99 a pound. The 2 lb brick goes on sale for $9.99 about every
three weeks at the market I can walk to. It used to be $8.99 for 2
lbs, not on sale, not that long ago (within the last 2 years).
All of the prepared mixes for stuffing, from stovetop (obviously not a
frugal choice) to the bags of crumbs are way up in price. Pumpkin is
ridiculous, whether fresh or canned. Cheaper to buy a pie in the GS
here. You can get an entire pecan or pumpkin pie for 4.99 or 3.99
respectively. I did learn how to make pumpkin pie without buying
canned milk, which helps, but the pumpkin itself is $2 a can, and the
other ingredients cost about a dollar, prorated. Then, there's the
fuel to bake the thing. I figure the cost of each pumpkin pie is
$3.50. For 49 cents, someone else can bake it. That's a bargain.
I like to save my money to purchase services, and so do my housemates.
Pili
Pili
> "timeOday" <timeOday-UNS...@theknack.net> wrote in message
Sounds really high in saturated fats, actually. How do you handle
eating duck and deep fried shrimp at the same meal?
I'd be worried about where it all came from, at those prices. Are you
saying that you don't? Do you think about stuff like that?
Pili
jo...@phred.org
@d21g2000prf.googlegroups.com>, huika_...@volcanomail.com says...
> Cheese is way up here. We buy 2 lb Tillamook bricks, not on sale, the
> price is now $15.
Interesting. Having just been shopping today, Tillamook 2-lb sharp
cheddar was about $10/2 lb brick, not on sale, at my local Albertsons.
It would be interesting to know how much of the change in your area
relates to changes in Federal dairy-marketing orders -- milk products in
the U.S. aren't a particularly free market, and regional price
variations are often mandated by Federal controls, rather than any
market conditions that would apply if competition were legal.
--
jo...@phred.org is Joshua Putnam
<http://www.phred.org/~josh/>
Braze your own bicycle frames. See
<http://www.phred.org/~josh/build/build.html>
** Frank **
"Pili" <huika_...@volcanomail.com> wrote in message
news:427c6226-e5f3-4720...@s12g2000prg.googlegroups.com...
Easy, people around the world do it all the time and don't get fat, live
long and healthy. Don't have a problem with this once a week or once every
two weeks. I maintain my high school weight and do physical work 4 hours a
day, 5 days a week. People in the old days (WWII and prior) were much more
physically active but consume a lot of saturated fat (bacon, ham, eggs,
pies, cakes, heavy cream, tons of butter, etc.) but trim and fit, unlike the
obese inactive McDonald, Kentucky Fried Chicken generation of today. Now we
know saturated fat is bad but I think a little of it is ok.
> I'd be worried about where it all came from, at those prices. Are you
> saying that you don't? Do you think about stuff like that?
>
The other factor is maybe we eat only 1/4 as much as you've perceived so if
the price was 4 time more, than that would be acceptable from your
perspective? Anywho, quality of food is about the same as from a three star
sit down restaurant which is three stars more than the local greasy spoon.
Don't worry, the food is fresh. This take out is part the fish and meat
market and grocery store - don't get any fresher than that unless you're a
farmer and do your own butchering.
> Pili
Dawn
>In article <1264316f-e589-412b-a804-f8426f919610
>@d21g2000prf.googlegroups.com>, huika_...@volcanomail.com says...
>
>> Cheese is way up here. We buy 2 lb Tillamook bricks, not on sale, the
>> price is now $15.
>
>Interesting. Having just been shopping today, Tillamook 2-lb sharp
>cheddar was about $10/2 lb brick, not on sale, at my local Albertsons.
>
>It would be interesting to know how much of the change in your area
>relates to changes in Federal dairy-marketing orders -- milk products in
>the U.S. aren't a particularly free market, and regional price
>variations are often mandated by Federal controls, rather than any
>market conditions that would apply if competition were legal.
Wow. I just went to Winco yesterday here in the PNW and a 2 lb. brick
of Tillamook medium cheddar cheese was still $5. I have noticed it
more in the $9 range at the other local stores.
Dawn, cheese eater.
** Frank **
<nos...@nospam.com> wrote in message
news:mndvj31raq5jfbv84...@4ax.com...
Not concern with evaporated milk even if it goes to $20 a can. What concern
me more is crude oil going above $100 per barrel, huge deflation in the
housing market with the subprime fiasco dragging everything down with it,
resetting 52 week lows in so many stocks, mutual funds and benchmarks.
Frightening to witness so many billions of dollars disappeared just
overnight. 11% for the special, natural turkey doesn't look too bad, as
everything is relative. Next year would be interesting, perhaps more pain.