Grocery Prices are noticeably higher

[George K]

@jolly said in Grocery Prices are noticeably higher:

what's gas going for in your part of the world?

Silly Jolly.

That assumes you can afford to buy a car.

J.D. Power's June forecast showed the expected average transaction price will increase to the $40,000-plus figure, which will be a new record. The ATP is up by $1,667 from May of this year, the previous record by this measure. Vehicle prices, on average, are expected to be 15% higher than in June 2020, mostly due to automakers pulling back on incentives. There's no need to incentivize a car purchase with all the pent-up demand following the pandemic, especially with inventory squeezed by the ongoing chip shortage. Incentive spending will be down about 6%, or nearly $2,000, according to the monthly forecast.

The forecast expects retail sales of new vehicles (that excludes vehicles sold to fleets) to climb by 12.4% compared to June 2020, and for a nonpandemic-related baseline, sales should increase by 0.3% compared to June 2019. For the first half of 2021, sales will increase by 36% compared to the first part of 2020. Again, compared to a time without COVID-19 in our lives, J.D. Power expects an 11% increase over 2019 when everything's adjusted for the number of selling days.

All of this has put a strain on many people who simply can't afford a new car, as prices push them out of the market. Used car prices are scalding hot, too, and will likely show a 29% increase, according to the forecast for June. J.D. Power does say, however, that used car prices will start to trend downward quite soon -- echoing earlier data released this week. Wholesale auction prices peaked this month, which will lead to price decreases for preowned cars in the weeks to come.

[LuFins Dad]

@jolly $2.90. I wasn’t as concerned about the gas prices.

[Jolly]

Groceries and gas are generally the prices that people pay the most attention to.

At what point do the Dems get slaughtered?

[Horace]

@jolly said in Grocery Prices are noticeably higher:

Groceries and gas are generally the prices that people pay the most attention to.

At what point do the Dems get slaughtered?

The people happiest about all the money being given out and the opportunities not to work, are already Dem voters anyway. How many votes are they really buying, and how many swing voters who want a normal, productive life in a normal, productive economy, will be pushed right?

[Mik]

@jolly said in Grocery Prices are noticeably higher:

Pay no attention to that Biden behind the curtain.

BTW, what's gas going for in your part of the world?

$2.76 at Costco, $3.06 to $3.12 elsewhere.

[George K]

[Copper]

$2.95

[89th]

@jolly said in Grocery Prices are noticeably higher:

Pay no attention to that Biden behind the curtain.

BTW, what's gas going for in your part of the world?

I'm no fan of Biden but let's be honest that, while his policies may not be helping, the inflation we are seeing is the result of what happened in 2020. Anyway, gas is $2.90.

[jon-nyc]

@89th said in Grocery Prices are noticeably higher:

I'm no fan of Biden but let's be honest that, while his policies may not be helping, the inflation we are seeing is the result of what happened in 2020. Anyway, gas is $2.90.

I think that's mostly true, much of the price inflation we see is due to Covid related supply chain issues in combination with an over-reliance on JIT methods. But I do think money-supply fueled inflation is a real risk over the next year or two, and Biden made the risk worse.

[jon-nyc]

I paid over $4 but I'm buying premium with the new ride.

[LuFins Dad]

@lufins-dad said in Grocery Prices are noticeably higher:

Just got back from Costco… Steaks that are normally ranging $7.99-$9.99 were $11.99 per pound. Ribs are normally $2.99 per pound were $4.99. I like to buy these shishiti pepper packs for a quick grill side.. normally they are 3,99 per pack. They were $4.99 today…

The Shishito Peppers were 5.79 today. Over 30% increase in two months.

[Mik]

I think like others this is mostly supply chain issues, largely transportation shortage. But I agree with Jon - Biden is unlikely to do anything but make it worse.

[Larry]

Shishito peppers.......

Bahahahaaaaaaaa...... sound like they'd be hot... do they burn your bubutthole when you shishit one?.......

[LuFins Dad]

@mik said in Grocery Prices are noticeably higher:

I think like others this is mostly supply chain issues, largely transportation shortage. But I agree with Jon - Biden is unlikely to do anything but make it worse.

The solution isn’t to keep paying these workers $15 an hour to stay at home…

[Mik]

There was a shortage of truckers before COVID ever hit. It's much worse now.