Well that’s it-you can buy an entire melon somewhere for a lot less than 8.99. I like to buy 1/4 since we are a small family but I just won’t buy it with that kind of pricing.
Auto insurance finally gave me the inflationary middle finger. I switched because my company jacked up my rates. When I went to shop around, the prices were the same or higher everywhere. I found a company that gave me a lower quote…meaning about 5% lower than the atrocious quote my original company gave me. And that was on a special promotion. It’s anyone’s guess how long this rate is going to last. 
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Full size big watermelons at Publix in Atlanta for $6.99. This could be a Memorial Day special, not sure.
D23 is home from college and just asked me when I started buying prison-grade toilet paper. I told her the luxurious stuff is no longer in the budget!
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$3.99 at Kroger (King soopers) in Denver. Definitely a digital deal.
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@sushiritto , but VA is not a city. There are tons of rich people in the state of VA.
Picturing my grandmother going out in the yard, picking up a chicken, ringing its neck and then frying it up. But of course, they lived on a farm and managed to get several children through the depression. Sorry…off subject.
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Please explain this to me. It isn’t going into either state or federal coffers so how is it a tax? Thanks. An economist, I am not.
Some prices have increased. Gas seems to be steady.
If you bought your house when interest rates were low, then your housing costs are pretty low comparatively.
But sometimes I think people forget how much certain things cost or that prices climb without much notice.
I think the pandemic put these things out of kilter. There was a pandemic, no one went anywhere, no one traveled or went out to eat.
So there was a period of time that prices didn’t rise slightly but rose sharply. It was noticeable because all of sudden, we were doing things again.
My mil is always complaining about how expensive things are. But she doesn’t get out much and I think she remembers how much things cost when they did get out.
She complained when she bought ice cream on the turnpike. It was the same price that we pay in our small town. There wasn’t much of an increase just because it was on the turnpike. But because prices had risen while she hadn’t been buying scoops of ice cream.
" Throughout his career, famed economist Milton Friedman described inflation as a “hidden tax.” When prices rise consistently, he warned, they cut into consumers’ purchasing power, forcing them to earn more money (and pay more in taxes) to maintain the same lifestyle."
Another point. As prices increase, taxes collected on sales and services also increase thus providing more tax revenue, a “hidden tax”.
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Thank you MD Joe. But your second point is questionable. Even if prices rise, taxes are still taxes. They aren’t hidden. I don’t get that thinking, sorry.
The inflation tax is not only real, it’s massive
https://thehill.com/opinion/finance/580043-the-inflation-tax-is-not-only-real-its-massive/
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You’re correct they are exactly hidden. They’re just a boon for localities that collect sales taxes.
Note that the article was written in 2021 when the federal funds rate was ~0% Much of the commentary doesn’t apply to the current situation, with a >5% federal funds rate. Using the logic in the article, one could say that the “inflation tax” is currently negative, with the federal funds rate exceeding inflation.
I don’t think “tax” is the correct wording. Some persons have a net benefit from inflation. Others have a net loss from inflation. Continuing with the federal funds rate example. A homeowner with a big fixed mortgage might benefit from inflation. Inflation makes their mortgage debt less valuable (mortgage payment does not increase with inflation), and having a 2-3% mortgage when fed rate has increased rates to >5% in an effort to control inflation creates an arbitrage situation – it’s usually financially preferable to keep cash sitting in a bank (earning 5%) to paying down more than the minimum on the mortgage. The cash sitting in a bank is also increasing at a higher rate than inflation, so there is a gain in purchasing power over time.
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I’m surprised that no one has mentioned this:
Yes, lower consumer purchasing is driving companies to compete more for their money. From the article.
" Target’s first-quarter results on Wednesday not only show American consumers are more selective about spending in the face of sustained inflation that has squeezed their budgets for nearly three years. The company’s declining sales also illustrate how the battle for shoppers’ wallets has heated up as retailers — and even some restaurants — race to outmatch each other on low prices."
Thank you so much.
I used to shop at Target. But once I joined Costco, I didn’t find any need.
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News article tonight about how fast food places are offering deals for the summer, mostly $5/meal deals. I have to say those deals will attract me if I’m out and about and need food. Lately, I’ve been skipping eating out because the food is just so expensive.
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This thread reminded me of a conversation I’ve overheard a couple of months ago. Two young ladies “studying” a Canada Goose coat at a local department store… one said something like, “I can’t believe how expensive and crappy Moncler became! Canada Goose is actually not that bad…” Yup. Inflation finally hit the fashionistas. Have to settle for a less prestigious brand. 
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