Inflation: Everything is 6% Higher From a Year Ago and Rent is Up 8.2%, the Highest Ever
I cannot wait to see what Biden latches onto in this report to make it positive.
I don’t have anything from the White House in my inbox as I write up this post so I’m guessing they’re trying to come up with their spin on this Consumer Price Index (CPI) report.
My financial friend gave me great advice: Whatever the government says it is, multiply it by two to make it more accurate.
More accurate and scarier.
Let’s get this out of the way. Inflation went up by 0.4% in February. But that’s not the scary part.
The big picture is that everything is 6% higher than a year ago. Prices are not easing or not easing enough of basic household goods.
Big thing: Everything is up 6% from a year ago.
Rent of shelter rose 8.2%, which is the highest ever. The owner’s equivalent rent, which is another way to measure rent, went up 8%.
Oh, yeah. That is also the highest ever.
Rent is the highest ever.
Food at home went up 10.2% in the past year.
Eggs went up 55.4% in the past 12 months! Biden will probably only mention that eggs decreased prices by 6.7% in February. That’s cool and all, but still. Price increase of 55.4% in a year!
Food at elementary and secondary schools soared 299.7%.
Baby food and formula increased 9.8%.
The Rest
I’m going to give you the numbers as I always do. Remember, these numbers are percentage changes in the last 12 months.
Food overall went up 9.5% in the past year. Here’s a screenshot for items under cereals and bakery products because they all skyrocketed in the past year.
Meats, poultry, fish, and eggs went up 6.8%.
- Meats overall only rose 1.8%.
- Beef and veal actually went down 1.4%.
- Bacon is down 5.9%
- Poultry went up 9.5%
- Fresh whole chicken rose 11.7%, which stinks because it was usually cheaper to buy the whole chicken than the separate parts.
- Fresh and frozen chicken parts went up 7.7%
- Other uncooked poultry, including turkey, up 12.6%
Dairy and related products prices increased 12.3%
- Milk: 8.1%
- Fresh whole milk: 6.9%
- Fresh milk other than whole: 9%
- Cheese and related products: 9.4%
- Ice cream and related products: 13.9%
- Other dairy and related products: 19.2%
Fruits and vegetables up 5.3%
Apples: 5.6%
Bananas: 4.6%
Citrus fruits went DOWN 1.2%
Potatoes: 13.5%
Lettuce: 10.4%
I know nutritionists and others harp on fresh veggies and fruits but frozen veggies and fruits are just as good. And shoot, for busy parents, canned veggies and fruits (not in sugar though!) are easy, and if your kid eats those, it’s better than nothing.
I rant about that because Processed fruits and veggies went up 14.2%. Frozen vegetables alone increased 21.4%!
Nonalcoholic beverages and beverage materials went up 12.3%. Everything in the category had double-digit increases.
Fats and oils increased 19.4%.
- Butter: 20.7%
- Margarine: 39.8%
Food away from home is up 8.4%. It’s insane that food at employee sites and schools went up 134.4%.
As I mentioned before, school food is up 299.7%.
Pet food increased 15.2%. Veterinarian services went up by 10.3%.
All types of gasoline went down in the past year. That’s wonderful news! But…electricity went up 12.9%, and fuel oil increased 9.2%.
Conclusion
The CPI report is bad. Really bad. Painfully bad.
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Comments
The Chick-Fil-A cows are gonna have a hard time convincing people to eat mor chikin.
Maybe not. The beef herds are the smallest in decades. Once the excess beef at market runs through beef prices will increase. Higher slaughter counts b/c of rising feed prices led to this.
Same with lamb. Leg of lamb for Easter is so outrageous around here that instead of slaughtering whole lamb, farmers are just cutting off one leg each and issuing crutches to the affected animal(s).
They used to take two off of cattle to get lean beef.
Flat pastures no doubt?
Makes tipping so much easier. Bonus!
Well you know, a lamb that good, you can’t eat all at once 🤣🤣🤣
Not to mention the massive drought that caused even the 100% grass guys to cull their herds.
Yes indeed, drought leads to local hay shortage which leads to need for imported feed which leads to increased feed costs. Ranchers could either cull drastically or pay to import feed, including hay; they choose to cull b/c the costs of feed were prohibitive.
Just wait until OPEC accepts other currencies than the US Dollar. Then there will be no reason for any foreign government to buy US Treasury notes.
Invest in a wheelbarrow to transport the cash you will need to buy groceries for a family of four. (Not hyperbole, see Germany ca. 1929)
Yet we still have the cash to bail out the donor class with deposits in SVB.
Silly! We can just print that!
Thereby making inflation exponentially worse.
Thanks again, President Dipsh*t.
We are a few months away from paying off our mortgage and HELOC, at which time we will have a mortgage burning ceremony. All are invited. From the sound of it, not shelling out all that cash monthly will allow us to keep our heads above water for the next few years – if we’re fortunate.
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Great news and still one of the most beneficial financial decisions an individual can make. Sure in theory you can use leverage and refi into infinity but life throws curve balls and having zero mortgage in home you intend to stay in is peace of mind that is difficult to replace.
Well done! Now pay off the car–if applicable, credit cards if applicable.
So now you’re just stuck with the government, AKA property taxes.
DSHornet,
I leave it to you to explain how little property tax is in Bama.
That doesn’t change it it’s still a government protection scam.
Property tax is, IMO, a whole lot better way to raise funds than an income tax full of all sorts of crony loopholes. Far more straightforward and universal than income taxes. Even a limited govt has to be funded.
My property tax in Bama is about $2 a day. On multi acre tract w home, pool, barn and outbuildings with a tax value/appraisal just under $4ooK.
Redistributive change thr0ugh shared responsibility.
I was assured by the media after Election Day 2020 that “the adults are back in charge.”
Right. Adult Socialists.
Well…was it worth getting rid of Trump for this? Was it?!
Ask the billionaires getting bailed out at SVB.
Not only are prices up on packaged and canned food, but contents are down in ounces for quite a few.
Somebody bring back the “rent is too damn high” guy.
https://en.m.wikipedia.org/wiki/Rent_Is_Too_Damn_High_Party
Food costs are just nuts right now.
Biden and his flying monkeys will probably just mumble “Trump’s fault”. Or “global warming”. Maybe they just spin a wheel (like on The Price Is Right) to pick their “argument”.
I hear that Hunter is now calling his dad, Mr. 10.6 percent.
Everyone be sure to thank Brandon the pedophile.
6% inflation? Bullshit. More like 15% inflation in real terms…
http://www.shadowstats.com/alternate_data/inflation-charts
The big picture is that everything is 6% higher than a year ago.
Baloney. Everything is more than 6% higher.
But it’s the government measure, so….
So double it and add 3, and you’re in the ballpark.
industrial automation that would have cost me 2.4 million dollars last year are now costing me 3.9 million
Donald Trump was a great president. Despite the relentless pressure and attacks by members of a deep state determined to remove him from office, he accomplished a great deal in four years.
To name just a few of those achievements: His tax cuts and focus on deregulation triggered an economic boom. He reshaped the judiciary, made America energy independent, strengthened our military, secured our border, and stood up to China.
I voted for Trump in 2016, 2020, and would vote for him again in 2024. There’s no question America is worse off as a result of his loss in 2020. Biden stinks!
Trump is not helping himself by calling Florida governor “Ron DeSanctimonious,” “Meatball Ron,” or “Tiny D.” He’s making himself look immature and decidedly unpresidential. The insults are only reminding people of the reasons why so many independents and even some Republicans turned against him in 2020, and if he continues with the NY trash talking, he will lose FL , Hispanic American voters and the independents. What Trump is doing is stupid politics.
There’s a lot to like about living in a state like Florida, regardless of who is the governor. I know. I live in Florida. But DeSantis has accomplished a lot for Floridians in the past four years, which is why he won reelection in a landslide by nearly 20 points last November.
Trump would help himself immensely if he would stop the attacks on members of his own party.
If Trump must rag on an opponent, rag on Joe Biden, please.
Anyone who believes prices are 6% higher hasn’t been to a grocery store lately. On so many items, prices are 20-35% higher. Plus, sale prices are limited to only a few odd items,
If its 6% higher, than why am I spending 40-50% more on the same groceries I always buy?
Why am I dropping $60 on a meal in a restaurant, when just two years ago the exact same meal was $30?
You know what’s NOT up 40-50% in the past two years?
My income.
The rent is too damn high.
https://www.youtube.com/watch?v=79KzZ0YqLvo
We’ve given up restaurants because food prices are so high. It’s sad for restaurant owners and servers, because many who scraped by during the pandemic will lose the most.
Our country is a mess under Biden and company. It’s been a downward spiral since he took office. Whoever is pulling his strings does not love America.