Signs of inflation

[nala]

I don’t pretend to be an economist so feel free to school me. For the purposes of this thread—what items or services have you noticed skyrocket overnight that point towards inflation.

 

[Dancing Fire]

Everything, especially lumbers. As our government kept on printing more $$$ double digit inflation will be here sooner than you think. 1970's here we come again.

If the Feds doesn't raise interest rate to protect against inflation then a loaf of bread will soon cost $7, but if they do raise interest rates the stock market and the housing market will crash, so yes, we are dead either way. Our government must stop spending more money than they take in. Paying people for not working till Sept??, no wonder the restaurant business couldn't find any workers. why work when you are being paid for doing nothing??

 

[Daisys and Diamonds]

Everything, especially lumbers. As our government kept on printing more $$$ double digit inflation will be here sooner than you think. 1970's here we come again.

If the Feds doesn't raise interest rate to protect against inflation then a loaf of bread will soon cost $7, but if they do raise interest rates the stock market and the housing market will crash, so yes, we are dead either way. Our government must stop spending more money than they take in. Paying people for not working till Sept??, no wonder the restaurant business couldn't find any workers. why work when you are being paid for doing nothing??

We have to be careful on a thread like this DF ....

Here the minimum wage just increased to $20 /hr so its a flow on effect

 

[ForteKitty]

Everything, especially lumbers.

Lumber is due to increased tariff in years past, and a huge demand during the pandemic. Almost every homeowner I know have done some kind of renovation, especially outdoor spaces.

Soaring lumber prices add $36,000 to the cost of a new home, and a fierce land grab is only making it worse

As the housing market gets leaner, potential buyers are turning in greater numbers than ever to new construction, but builder costs are soaring.

www.cnbc.com

Lumber Prices Break New Records, Adding Heat to Home Prices

Home buyers and renters are bearing the brunt of rising wood costs, while sawmills are poised for another quarter of big profits.

www.wsj.com

Used car pricing also shot up recently due to a severe microchip shortage. Lots of friends are selling their used cars (bought used) and making a hefty profit on a vehicle they've driven for years. It's not all due to inflation.

The microchip shortage explained: How it's impacting car prices and the tech industry

A shortage of microchips has slowed production of cars and laptops and delayed the iPhone 12. What happened? Did the Suez canal snafu make it worse?

www.usatoday.com

Chip shortages have disrupted the market for used cars. That's good for buyers.

Used car prices have soared due to global chip shortages. That has led to reduced availability of new cars and increased trade-in values.

www.usatoday.com

no wonder the restaurant business couldn't find any workers. why work when you are being paid for doing nothing??

The restaurant businesses here are booming! We order takeout probably 10+ times a week, all from small local family owned businesses. Several of our weekly spots opened during the past year and are thriving despite not allowing inside dining. Some constantly have a line outside the door for takeout. I don't see any signs looking for hire, but then again, most of these places pay their staff well and don't treat staff like crap.

Our favorite brewery with the happiest employees even expanded during the pandemic. They recently put up some job listings for a marketing position and other staff on Instagram, and they filled immediately. I even asked a friend whose family owns franchises of a popular fast food chain if they've had trouble hiring or retaining staff, and she said not at all. It's all about how you run your business, you can't blame the govt for everything. Maybe your restaurant owning friends need to revisit their business model?

 

[Beagles]

Offer a living wage and you won't have problems filling jobs.

 

[chemgirl]

Offer a living wage and you won't have problems filling jobs.

Totally. The company I used to work for has a massive turnover problem in the plant. They’re hard pressed to keep someone for 6 months.

They also have no paid sick leave and deny most vacation requests. Factory workers make a whole $1 over minimum wage and are treated as subhumans.

Meanwhile the salaried staff go on about how it’s such a great company and they don’t know why they can’t keep employees.

It must be that people are just lazy (management actually believes this)

Places with reasonable pay and decent working conditions don’t seem to have this problem...I wonder why...

 

[Dancing Fire]

Offer a living wage and you won't have problems filling jobs.

On thee other hand the businesses will raise their prices and then pass it along to their customers. IOW, inflation!. There are no easy way out of this mess.

 

[stracci2000]

We just ordered 5 windows.
Two medium sized ones in bedrooms and three smaller ones for bathrooms and the laundry room. Cost is $4200, installed.
I am still reeling.
This is twice what we paid for 8 windows ten years ago.

 

[ForteKitty]

We just ordered 5 windows.
Two medium sized ones in bedrooms and three smaller ones for bathrooms and the laundry room. Cost is $4200, installed.
I am still reeling.
This is twice what we paid for 8 windows ten years ago.

That goes hand in hand with the links I posted above under lumber. With so many new construction and renovation projects underway, anything related to the house has jumped in pricing. Suppliers can't keep up with the demand! We are putting off all home projects for at least a year.

 

[voce]

Groceries in California. Depending on what you're trying to buy, I've noticed increases of 20% to 100% on groceries.

 

[Dancing Fire]

Groceries in California. Depending on what you're trying to buy, I've noticed increases of 20% to 100% on groceries.

Don't forget gas!, I'm paying an extra $10 bucks to fill up my car, plus every restaurants that I frequent had raised their prices.

 

[NicoleNeedsHelp]

I’ve noticed it mainly for services. For example, a very basic manicure/pedicure was $34 before Covid and now it is $50. Haircut prices are way up. I have a son and his hair cut used to be $18 and now is $25.

 

[LilAlex]

There is inflation and then there is profiteering. Inflation is tightly reined by the Fed. Most of the examples here are acute scarcity plus retail profiteering. Food and gas seem pretty steady, imo.

I do not know the basket of goods/services that go into the various measures of inflation but I do not think it officially exceeds 3%. (And I see that some random website not worth citing pegs it at "... 2.6% for the 12 months ended March 2021" -- and that sounds about right.)

 

[MRBXXXFVVS1]

Everything is more expensive these days. How much is a banana? $10?

Stuff is more expensive these days primarily due to supply and demand. Luxury goods have increased in price quite a bit, anything with a semiconductor chip, furniture, etc. Sometimes it doesn't appear as a price increase, but they run less sales. The "Big Mac" index and pricing is often a good indicator of inflation.

The combination of the government printing more money to fund various programs, along with low interest rates fuels inflation. Rates will have to rise to prevent the economy from overheating, although it's not what Yellen is predicting or recommending. Another solve is greater taxation.

 

[chrono]

Everything is more expensive these days. How much is a banana? $10?

Depends on where you shop. My mother bought a bunch of fat yellow banana at $1 an entire bunch last week. I have become used to the life of luxury and don't know where the best prices are anymore and am thankful I don't have to worry about it like I used to.

 

[lala646]

Food prices in NYC have seen minimal increases. Gas prices, hard to tell if that's inflation of just OPEC, but those fluctuations are seasonally impacted anyway, so *shrug*. The silicon shortage is going to hit more industries harder than most of us will be able to wrap our brains around, because most of us don't have a good concept of the supply chain (see everything @ForteKitty linked to). Add the building boom on top of that, and the fact that so many businesses are trying to recoup losses from last year by increasing the price of services this year, and you have a recipe for higher prices.

 

[lala646]

Everything is more expensive these days. How much is a banana? $10?

 

[missy]

Prices are increasing at an increasing rate but other than lumber and gas I wouldn’t say prices are skyrocketing.

The problem with gas prices is that it affects many other things. Price of transportation increases therefore everything related to transportation increases.

Construction materials including lumber are skyrocketing. Gas has taken a significant jump but not sure I’d call it skyrocketing.

But unfortunately everything is linked so yes inflation is happening despite what the federal government says.

 

[winnietucker]

All building materials. Siding guy told me it’s expected. He told us it’s best that he preorder it so we get it at the lower price. No flip flopping on color but that’s ok. I’m looking at getting a garage built and one place that used to advertise pricing on their website no longer does because of what’s happening with material prices.

 

[stracci2000]

In my neck of the woods bananas are .59/lb.
One average sized banana should cost about 25 cents.
Organic bananas are .89/lb.

 

[dk168]

A lot of items on sale on eBay that originated from China had their prices increased overnight due to the addition of VAT.

DK

 

[Lisa Loves Shiny]

Food, gas, landscaping plants, and of course house prices have increased this year where I live. I was kind of stunned that the Etsy candle mold I bought a few months ago from a seller for $50 is now $80.

 

[tyty333]

Houses went up overnight it seems like. Lots of folks moving from the north to our area. They are snapping up expensive homes as well
as the once-affordable-homes to flip. Almost every house I looked at on Zillow in our area was "pending" sale.

Gas went from low $2 to $2.85 as of today. Food has been creeping up for the last year and a half.

Those are the main things I've noticed.

 

[Dancing Fire]

Gas went from low $2 to $2.85 as of today. Food has been creeping up for the last year and a half.

Those are the main things I've noticed.

I'm paying $4.40 for premium gas here in Ca. my gas tank can hold 22 gals so you do the math.

 

[ForteKitty]

I'm paying $4.40 for premium gas here in Ca. my gas tank can hold 22 gals so you do the math.

Used cars are selling at an all time high right now due to microchip shortage. This demand is not expected to last. Time to trade in your gas guzzler for one that doesn't require premium gas!

 

[Dancing Fire]

Used cars are selling at an all time high right now due to microchip shortage. This demand is not expected to last. Time to trade in your gas guzzler for one that doesn't require premium gas!

No problem FK, just wire me the $$$!

 

[123ducklings]

Is it inflation or supply chain issues during month 16 of a global pandemic?

 

[ForteKitty]

No problem FK, just wire me the $$$!

LMAO I don't buy gas guzzlers that take premium gas. That's what you get for buying a luxury car

 

[nala]

Used cars are selling at an all time high right now due to microchip shortage. This demand is not expected to last. Time to trade in your gas guzzler for one that doesn't require premium gas!

Quick question. Why would anyone buy used if they could buy new? Given that dealers are overpaying sellers for their trade-in’s?

 

[ForteKitty]

Quick question. Why would anyone buy used if they could buy new? Given that dealers are overpaying sellers for their trade-in’s?

No clue! All I know is my college buddies' chat group is going nuts over this. There are quite a few with more cars than they realistically need, and they're making bank off their bought-used-driven many years cars. A few of them off-road and are making so much on their used jeeps. Anything listed is sold immediately with multiple over-listing offers. Absolutely nuts. We buy new, pay cash, and drive it to the ground, so we don't have extra cars sitting around. Too bad!