Thoughts on Inflation?

I thought I saw $0.04 per gallon. If it would have gone up by that much I think people would have reacted differently.

The $0.611/gallon tax will drop to $0.576/gallon in 2024 effective Jan. 1, 2024, and remain in place throughout the calendar year. The rate had remained the same for five years.

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So I shouldn’t tell you our’s is $2.65/g :wink:that’s up .20/g from just before Christmas. We’re from PA, so the fam keeps us updated on the prices of everything. I was up visiting in May and couldn’t believe how much more groceries were; I was always happy we didn’t pay sales tax on them in PA until I realized how much more stores charged for the same items.

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My car takes premium gas and I filled it up the other day and it was $4.35 a gallon. It’s funny you mention the cost of groceries because that was one thing I did notice in Florida (we have a condo there): the gas is cheaper there, but groceries are more expensive than in PA. Government gets money any way it can. The tolls on the PA turnpike are up 5%, the PA gas tax is down 6%. Hard to keep track :wink:.

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"…core inflation, which strips away the more volatile costs of food and energy, was 3.9%…

I was not a math major, but 3.9, which is what the Fed follows, is still a long way from the magical 2 (which is their Goldilocks number).

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I live in PA in a suburban town where gas is always more expensive than neighboring towns. The station closest to my house has been at 3.17 the last couple of weeks. Today I paid 3.03 at Costco (not in our town.) We were in NC last week and paid $2.97 - that’s the closest I have ever seen our PA prices to NC prices (DS lives there and went to school there.)

Haha, gas around here is hovering about $5/gal and has been for months of longer. Price of paradise, I know. :frowning:

I paid $2.89 with my grocery card credits yesterday, lowest price in quite a while. Gas is generally about $3.25 here in the SE Phoenix valley. After fill-up, my new car dash said I have 534 miles to empty, and I’m averaging 48 mpg. We wanted to buy an EV this time, but just not there yet, so the hybrid enables us to use our gas dollars more efficiently in these times of higher prices.

I remember when gas was .19/gal. :woman_facepalming:

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Gas has been all over the board in suburban Chicagoland the last two weeks. I have seen everything from $2.57 to $3.13 (All in the burbs and not Cook Cty).

Working from home today so gas prices and tolls don’t matter today.

I was at Publix today and the Ghirardelli dark chocolate chips that my DH devours like a basic food group was $9 for a large bag.

I don’t track the price incredibly closely but I know that’s even higher than usual. Last I recall it was like $7 a bag.

Blew my mind.

(I bought him a slice of cheesecake instead!)

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That is really high, even for Publix; they’re $6.87 at our Publix and $5.64 at Wal-Mart.

$4.499 for 93 octane in the Boston burbs this morning.

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Christopher Waller, one of the Fed’s seven Washington-based officials and one of the 12 policymakers who gets to vote at its meetings, said during a speech at the Brookings Institution on Tuesday that he saw a case for cutting interest rates in 2024.

“The data we have received the last few months is allowing the committee to consider cutting the policy rate in 2024,” Mr. Waller said. While noting that risks of higher inflation remain, he said “I am feeling more confident that the economy can continue along its current trajectory.”

https://www.nytimes.com/2024/01/16/business/economy/fed-governor-christopher-waller-rate-cuts-coming.html

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Gas prices last night.

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I am in NC and filled up my vehicle at $2.66 yesterday. I used a card which will give me 5% back.

Saw $2.71 by my house this morning in Chicagoland SW burbs.

$2.87/gal for 87 octane in NJ. 93 is $3.30.

I filled up my car yesterday at Costco in Southern California and it was $4.59 for premium. H put gas in his truck at a different Costco near his office and it was $4.19 for regular. I am very jealous of the gas prices you all are posting!

Gas is about $2.69 in Texas Land. It’s nice having a Sam’s Club Mastercard that gives me 5% cashback.

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