Examples of current inflation - add yours!

[Koolau]

None of that helps me because I didn't wait until now to start saving. I've been doing things to save money for many years. It sounds like some people think it's a new thing.
That doesn't stop inflation. Inflation is still there. You're just minimizing your costs, which you should have been doing all along.

Both cars? I only drive one and save more. Oil price was down slightly yesterday when gas jumped 50 cents. I don't find that effective. But my car's tank was mostly full because I don't do a lot of driving.

Anyway, this thread is for posting examples of current inflation.

I looked and didn't see a reason for the sudden spike. Also, in Illinois, the gas tax is supposed to go up soon, which is already quite high, so we're really getting stuck extra hard here.

Yeah, I've been doing the "cost-cutting" thing for a long time - long before the current inflation epidemic. It's true I could always cut more, but at some point, you simply can't make up for the effects of inflation by further cutting.

It's also true that the cost-cutting doesn't lower inflation. YMMV

 

[GenXguy]

Almonds are down about 5% at Walmart. First real drop in a price of a packaged/lightly processed product that I've seen in years.

Oh, that reminds me. In addition to the big 50 cent gas spike, the eggs went up again, so that's $1.54 to $1.78 to $2.06 (dozen large) over my last 3 recent purchases. Apples edged up again. On the plus side, the gallon milk actually dropped below $3 again, to $2.84.

Still under $3 in Missouri.

It was closer to $2/gal here back pre-pandemic. Note, the gas price hikes don't hit everywhere at the same time or intensity. A small city about 1 hr from me still shows some gas stations at $3.27 while some have increased as high as $3.79 there, as well.

On July 1, the Illinois gas tax will increase to $0.47 per gallon!

 

[Aerides]

It was closer to $2/gal here back pre-pandemic. Note, the gas price hikes don't hit everywhere at the same time or intensity. A small city about 1 hr from me still shows some gas stations at $3.27 while some have increased as high as $3.79 there, as well.

On July 1, the Illinois gas tax will increase to $0.47 per gallon!

and for the millionth time in this thread, gas prices are not tied directly to inflation - their movement is independent and goes up and down all the time. Gas was more in 2008 than it is today, by a lot, but sure, we'll keep focusing on a 5-year old valley as the benchmark? Not how it works, sorry.

While gas prices can impact things like shipping and delivery costs, travel & transport, and find their way into consumer prices as a result, the ups and downs of gas are not inflation or deflation.

 

[Al18]

Gas prices are down 18% compared to two years ago - can’t complain U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

 

[GenXguy]

and for the millionth time in this thread, gas prices are not tied directly to inflation - their movement is independent and goes up and down all the time. Gas was more in 2008 than it is today, by a lot, but sure, we'll keep focusing on a 5-year old valley as the benchmark? Not how it works, sorry.

While gas prices can impact things like shipping and delivery costs, travel & transport, and find their way into consumer prices as a result, the ups and downs of gas are not inflation or deflation.

Gas prices make up about 4% of CPI (inflation.) You may be thinking of "Core" CPI which strips out food and energy.

But you are right about it figuring into increased costs for many other things. So, it's even worse than it appears on the surface.

Yesterday's gas spike was about 16% within less than a day.

Gas prices are down 18% compared to two years ago - can’t complain U.S. All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon)

Shows under $2/gal in April 2020. I think I paid something like that back then, maybe less, but I sometimes get those fuel savers deals where I get it discounted below the regular pump price. I had one for 30 cents off recently, but gas was around $3.71/gal, so it didn't take much of the sting away, then gas started dropping right after that to as low as $3.27, then "boom!"

 

[MichaelB]

McDonald’s has announced a new $5 value meal.

On June 25, McDonald’s will kick off a marketing campaign and a new $5 meal deal

And they’re not alone

Burger King’s US president pledged to roll out its $5 value meal “before they do,” alluding to McDonald’s in a memo to franchisees. Wendy’s Co. pushed out a $3 breakfast offer and took to social media to mock its competitors for copying its ideas. Even Starbucks, known for its pricey Frappuccinos and lattes, said it would offer a $6 breakfast sandwich and coffee combo.

There are many reports on this, here’s one McDonald’s $5 Value Meal Intensifies a Fast Food Price War

It looks like they have been reading this thread and decided to take action

 

[JoeWras]

I don't discount gas prices from my inflation thoughts. I may put them in the back a little, but I don't throw them away. Fuel ultimately flows through everything.

Long term trends in fuel are important. I like to look at GasBuddy's charts long term, 2 years or more. What I see in the current long term 2 year chart is that gas is generally stable with some fluctuations.

That said, week to week prices are interesting and sometimes a canary in the coal mine, as they were in late 2021 and early 2022.

 

[Koolau]

McDonald’s has announced a new $5 value meal.

And they’re not alone

There are many reports on this, here’s one McDonald’s $5 Value Meal Intensifies a Fast Food Price War

It looks like they have been reading this thread and decided to take action

Too little - too late. I'm done with McD's. I have to buy gas but I don't have to buy burgers. YMMV