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Inflation Beyond the Stars Thread for April 12


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2022 Apr 12, 12:49am   114,993 views  1,147 comments

by AmericanKulak   ➕follow (7)   💰tip   ignore  

Since we know the numbers are going to suck since Peppermint Patty is leading the Amen Corner Media to blame Putin for it:
https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati

Frankly, I prefer my spaceship to have big tits and not fake inflated ones.

EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'

https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net

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739   Eman   2024 Feb 17, 6:31am  

Al_Sharpton_for_President says





Yup, don’t just look at YoY. Look at the last 3 years since Covid and zero interest Fed fund rate. Inflation has entrenched in our daily life. The economy has to experience deflation for several years to get us back to the Fed’s 2% historical trend line. Scary to think of this scenario
740   AD   2024 Feb 17, 11:52am  

.

Ultimately it is based on median real income for households. Is income keeping up with living expenses ?

Also how accurate does the government account for inflation (especially during an election year with a Democrat in the White House) ?

https://fred.stlouisfed.org/series/MEHOINUSA672N

2019: $78,250

2022: $74,580

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742   zzyzzx   2024 Feb 19, 12:02pm  

Another shrinkflation pic:


744   Patrick   2024 Feb 19, 5:38pm  

zzyzzx says

Another shrinkflation pic:





I can't imagine any woman being happy with opening that box.
745   HeadSet   2024 Feb 19, 7:13pm  

Patrick says

I can't imagine any woman being happy with opening that box.

Yes, and you give this, you won't be opening her box.
749   AD   2024 Feb 21, 9:42pm  

.

No more all-you-can-eat at Red Lobster: https://www.the-sun.com/money/10460920/red-lobster-makes-change-deal-customers-losses/

With inflation such as wage increases and food, its hard for a restaurant deal like this to be sustainable.

Florida has been increasing the minimum wage for tipped employees by $1 each year. Its now $8.98 and increases by a dollar for each year until September 2026. In 2027, the state of Florida will revert back to using inflation rates to adjust its minimum wage rates.

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750   AD   2024 Feb 22, 7:01pm  

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Example of great deals for food in Florida panhandle... Piggly Wiggly digital coupon

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752   AD   2024 Feb 24, 4:34pm  

.

Only $6.99 for an Italian sub at Publix ... bet you don't get good deals like that in California , and I don't think there is Publix there

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753   Misc   2024 Feb 24, 8:32pm  

I mentioned that the minimum wage increases for 25 States haven't worked their way through the economic system yet. This along the COLAs for social security and government employees and government retirees have boosted the Wall Street forecasts for the PCE indicator to the highest reading in about a year. These will continue to trickle through via higher rents especially. There are further State mandated pay hikes coming later this year as well.

https://finance.yahoo.com/news/fed-favored-inflation-gauge-seen-210000759.html
754   AD   2024 Feb 24, 9:13pm  

Misc says


I mentioned that the minimum wage increases for 25 States haven't worked their way through the economic system yet. This along the COLAs for social security and government employees and government retirees have boosted the Wall Street forecasts for the PCE indicator to the highest reading in about a year. These will continue to trickle through via higher rents especially. There are further State mandated pay hikes coming later this year as well.

https://finance.yahoo.com/news/fed-favored-inflation-gauge-seen-210000759.html


Good point, as Florida tip workers minimum wage recently received a $1 raise for 2024 to $8.98, and $12 for non-tip worker minimum wage. Most place on Panama City Beach have tip jars in front like casual barbecue restaurants where you order upfront. They start pay at $14 an hour for those who work the front and are a lot of high school students. The cooks get $18 an hour and share the tips.

California now has a $16 minimum wage as of 1 January 2024. How do the service workers in Silicon Valley and Los Angeles fare ? I mentioned how service workers in the Florida panhandle fare such as renting a 3 bedroom townhome within 2 miles of the beach.

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755   AD   2024 Feb 24, 10:17pm  

.

I'm seeing more deals like this. I am not sure if this is mostly local or Florida only as far as Walmart rollbacks.

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769   AmericanKulak   2024 Feb 26, 2:55pm  

Great work, @zzyzzx
770   HeadSet   2024 Feb 26, 3:08pm  

All the pics of inflation above are at foreign stores. Looks like Britain.
771   AmericanKulak   2024 Feb 26, 3:13pm  

Canada. But it certainly is happening in the US. Half Gallon ice cream is long gone, Mac N' Cheese is 10-15% less in package size than a few years ago, etc.
772   HeadSet   2024 Feb 26, 5:39pm  

AmericanKulak says

Canada. But it certainly is happening in the US. Half Gallon ice cream is long gone, Mac N' Cheese is 10-15% less in package size than a few years ago, etc.

It seems like decreased portions would affect the obesity epidemic.
773   zzyzzx   2024 Feb 27, 4:47am  

HeadSet says

All the pics of inflation above are at foreign stores. Looks like Britain.

Clearly some of them are, but clearly not all.
774   Misc   2024 Feb 27, 1:00pm  

If prices are too high...well just give the peasants more "Free" money to buy the crap with. That will solve everything.

https://www.msn.com/en-us/news/politics/americans-to-get-5-000-to-shop-under-new-bill/vi-BB1iZ0HA?ocid=msedgdhp&pc=U531&cvid=164f7400db6f4074ae130d350677c684&ei=18
776   AD   2024 Feb 27, 7:12pm  

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From the Employ Bay County - Florida page on Facebook. $14 an hour to start at Wendys in Panama City 23rd Street (near the Walmart). Likely is negotiable to $15 an hour.

Florida minimum wage is $12 an hour and goes up to $13 and hour next September, to $14 in Sept 2025 and $15 in Sept 2026.
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777   AD   2024 Feb 28, 9:37pm  

PCE is reported tomorrow.

What is your forecast for January 2024 ? Will annual PCE increase but at least continue to remain below 3% ?

https://www.bea.gov/data/personal-consumption-expenditures-price-index

Powell said on 60 Minutes recently that he would consider lowering the Fed Funds rate if inflation was to remain below 3%.

I suspect the Fed would set the Fed Funds rate to 4.5% (currently 5.5%) if annual inflation steadies and remains below 3%. I recall that the Federal Reserve usually wants the Fed Funds rate about 1.5% higher than the annual inflation rate.

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778   UkraineIsTotallyFucked   2024 Feb 29, 7:54am  

AD says

PCE is reported tomorrow.

What is your forecast for January 2024 ? Will annual PCE increase but at least continue to remain below 3% ?

https://www.bea.gov/data/personal-consumption-expenditures-price-index

Powell said on 60 Minutes recently that he would consider lowering the Fed Funds rate if inflation was to remain below 3%.

I suspect the Fed would set the Fed Funds rate to 4.5% (currently 5.5%) if annual inflation steadies and remains below 3%. I recall that the Federal Reserve usually wants the Fed Funds rate about 1.5% higher than the annual inflation rate.

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It may be rigged to.be lower than it is.

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