I think it's closer to 15%
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Yep, but the 12% figure I cited was for groceries.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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Inflation is a basket containing many things.
Groceries have increased by more than the inflation rate.
Rents have increased by less than the inflation rate.
It's an average, so it's not surprising that there are many prices that grow faster than inflation.
@Klaus said in I think it's closer to 15%:
Inflation is a basket containing many things.
Groceries have increased by more than the inflation rate.
Rents have increased by less than the inflation rate.
It's an average, so it's not surprising that there are many prices that grow faster than inflation.
I don't know about Germany, but in the US private concerns such as Zillow and rent.com are tracking rent inflation between 12-17% while the US Bureau of Labor Statistics is reporting 6%. Guess whose numbers are used in calculating inflation?
https://apnews.com/article/florida-economy-prices-7c38bdda95bfac698895e659269c9cfe
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@Jolly said in I think it's closer to 15%:
Yep, but the 12% figure I cited was for groceries.
OK, but it may still be the case that the food you buy isn't the "average" food.
I don't know how inflation is measured "officially", but while you can argue about the percentages of the basket, it is usually at least pretty transparent what goes into it.
For instance, here is a 20 page document which describes how the official inflation rate in Germany is measured.
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@Jolly said in I think it's closer to 15%:
Yep, but the 12% figure I cited was for groceries.
OK, but it may still be the case that the food you buy isn't the "average" food.
I don't know how inflation is measured "officially", but while you can argue about the percentages of the basket, it is usually at least pretty transparent what goes into it.
For instance, here is a 20 page document which describes how the official inflation rate in Germany is measured.
@Klaus said in I think it's closer to 15%:
@Jolly said in I think it's closer to 15%:
Yep, but the 12% figure I cited was for groceries.
OK, but it may still be the case that the food you buy isn't the "average" food.
I don't know how inflation is measured "officially", but while you can argue about the percentages of the basket, it is usually at least pretty transparent what goes into it.
For instance, here is a 20 page document which describes how the official inflation rate in Germany is measured.
Understood, but nobody in casual conversation whips out a 20-page document. Again, perception equals reality. When folks around here bitch about what food costs, they're talking basic stuff... Chicken, hamburger, milk, canned goods, flour, convenience foods, etc.
People know what their bills used to look like and what they look like now.
In a political sense, this is why The Resident is hammering abortion, the ultra-MAGA boogeyman and is emptying the Strategic Reserve...At least until after the first Tuesday in November. Things are worse than our fearless fool would have us believe.
And the average non-idiot knows it is worse.
“Cry havoc and let slip the DOGE of war!”
Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton
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@Klaus said in I think it's closer to 15%:
@Jolly said in I think it's closer to 15%:
Yep, but the 12% figure I cited was for groceries.
OK, but it may still be the case that the food you buy isn't the "average" food.
I don't know how inflation is measured "officially", but while you can argue about the percentages of the basket, it is usually at least pretty transparent what goes into it.
For instance, here is a 20 page document which describes how the official inflation rate in Germany is measured.
Understood, but nobody in casual conversation whips out a 20-page document. Again, perception equals reality. When folks around here bitch about what food costs, they're talking basic stuff... Chicken, hamburger, milk, canned goods, flour, convenience foods, etc.
People know what their bills used to look like and what they look like now.
In a political sense, this is why The Resident is hammering abortion, the ultra-MAGA boogeyman and is emptying the Strategic Reserve...At least until after the first Tuesday in November. Things are worse than our fearless fool would have us believe.
And the average non-idiot knows it is worse.
@Jolly said in I think it's closer to 15%:
Understood, but nobody in casual conversation whips out a 20-page document. Again, perception equals reality. When folks around here bitch about what food costs, they're talking basic stuff... Chicken, hamburger, milk, canned goods, flour, convenience foods, etc.
True, and I understood that you are talking about grocery costs, but I think that there are some psychological issues at work which explain why the "felt" inflation rate is higher than the official inflation rate. For instance, we tend to overweight the price of small expenses compared to the big ones. In addition, the official rate may (or may not) have been manipulated in some way to hide "real" inflation, of course.
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@Jolly said in I think it's closer to 15%:
Understood, but nobody in casual conversation whips out a 20-page document. Again, perception equals reality. When folks around here bitch about what food costs, they're talking basic stuff... Chicken, hamburger, milk, canned goods, flour, convenience foods, etc.
True, and I understood that you are talking about grocery costs, but I think that there are some psychological issues at work which explain why the "felt" inflation rate is higher than the official inflation rate. For instance, we tend to overweight the price of small expenses compared to the big ones. In addition, the official rate may (or may not) have been manipulated in some way to hide "real" inflation, of course.
@Klaus said in I think it's closer to 15%:
we tend to overweight the price of small expenses compared to the big ones
True, probably.
However, the "small" expenses are the ones you see every day. Big expenses (a car?) happen once a decade or so. And as @jolly said, "perception is reality."
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@Klaus said in I think it's closer to 15%:
@Jolly said in I think it's closer to 15%:
Yep, but the 12% figure I cited was for groceries.
OK, but it may still be the case that the food you buy isn't the "average" food.
I don't know how inflation is measured "officially", but while you can argue about the percentages of the basket, it is usually at least pretty transparent what goes into it.
For instance, here is a 20 page document which describes how the official inflation rate in Germany is measured.
Understood, but nobody in casual conversation whips out a 20-page document. Again, perception equals reality. When folks around here bitch about what food costs, they're talking basic stuff... Chicken, hamburger, milk, canned goods, flour, convenience foods, etc.
People know what their bills used to look like and what they look like now.
In a political sense, this is why The Resident is hammering abortion, the ultra-MAGA boogeyman and is emptying the Strategic Reserve...At least until after the first Tuesday in November. Things are worse than our fearless fool would have us believe.
And the average non-idiot knows it is worse.
@Jolly said in I think it's closer to 15%:
In a political sense, this is why The Resident is hammering abortion, the ultra-MAGA boogeyman and is emptying the Strategic Reserve...
Would you rather abortion be left the way it was and “MAGA” never happened?
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@Jolly said in I think it's closer to 15%:
In a political sense, this is why The Resident is hammering abortion, the ultra-MAGA boogeyman and is emptying the Strategic Reserve...
Would you rather abortion be left the way it was and “MAGA” never happened?
@Axtremus said in I think it's closer to 15%:
@Jolly said in I think it's closer to 15%:
In a political sense, this is why The Resident is hammering abortion, the ultra-MAGA boogeyman and is emptying the Strategic Reserve...
Would you rather abortion be left the way it was and “MAGA” never happened?
Nope.
And what does that have to do with the price of rice in China?
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The nasty problem with food inflation being so high is that it proportionally affects the poor considerably more than the better off, since a larger percentage of their total expenditure is food.
Saxophone prices OTOH seem to be pretty much fixed at this point, so I'm going to tell Mrs. Phibes I'm actually saving us money with my intended new purchase later this year. As an added benefit, she gets to hear me play, which will put her off her food, saving even more money!
I was only joking
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The nasty problem with food inflation being so high is that it proportionally affects the poor considerably more than the better off, since a larger percentage of their total expenditure is food.
Saxophone prices OTOH seem to be pretty much fixed at this point, so I'm going to tell Mrs. Phibes I'm actually saving us money with my intended new purchase later this year. As an added benefit, she gets to hear me play, which will put her off her food, saving even more money!
@Doctor-Phibes , half full today, right?
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@Doctor-Phibes , half full today, right?
@George-K said in I think it's closer to 15%:
@Doctor-Phibes , half full today, right?
I used a similar argument when I bought my bike - it only cost $2000, and I figured would easily be able to lose 5 pounds cycling, so therefore didn't need to be buy a bike 5 pounds lighter, hence saving us about $10,000!
....and that's when the fight started.
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The nasty problem with food inflation being so high is that it proportionally affects the poor considerably more than the better off, since a larger percentage of their total expenditure is food.
Saxophone prices OTOH seem to be pretty much fixed at this point, so I'm going to tell Mrs. Phibes I'm actually saving us money with my intended new purchase later this year. As an added benefit, she gets to hear me play, which will put her off her food, saving even more money!
@Doctor-Phibes said in I think it's closer to 15%:
The nasty problem with food inflation being so high is that it proportionally affects the poor considerably more than the better off, since a larger percentage of their total expenditure is food.
Saxophone prices OTOH seem to be pretty much fixed at this point, so I'm going to tell Mrs. Phibes I'm actually saving us money with my intended new purchase later this year. As an added benefit, she gets to hear me play, which will put her off her food, saving even more money!
Mark VI?
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@Doctor-Phibes said in I think it's closer to 15%:
The nasty problem with food inflation being so high is that it proportionally affects the poor considerably more than the better off, since a larger percentage of their total expenditure is food.
Saxophone prices OTOH seem to be pretty much fixed at this point, so I'm going to tell Mrs. Phibes I'm actually saving us money with my intended new purchase later this year. As an added benefit, she gets to hear me play, which will put her off her food, saving even more money!
Mark VI?
@LuFins-Dad said in I think it's closer to 15%:
@Doctor-Phibes said in I think it's closer to 15%:
The nasty problem with food inflation being so high is that it proportionally affects the poor considerably more than the better off, since a larger percentage of their total expenditure is food.
Saxophone prices OTOH seem to be pretty much fixed at this point, so I'm going to tell Mrs. Phibes I'm actually saving us money with my intended new purchase later this year. As an added benefit, she gets to hear me play, which will put her off her food, saving even more money!
Mark VI?
God no, I'm getting a new one.
Probably Yanagisawa. Selmer's are over-priced.
