Price changes of consumer goods and services

Paco Dennis

Paco Dennis

SF VIP
Location
Mid-Missouri
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I heard someone last fall say that food prices were going to double... and I heard the same person being mocked for what a stupid thing it was to say. Well... here we are. I am doing my grocery pickup order this morning and was looking at my past orders from about a year ago. Things I paid 98 cents for back then are now $1.98. An item that was $2.29 in April 2022 is today $5.49. On and on it goes for nearly everything on the shelves. The lady's idea wasn't so far-fetched after all.

I hadn't realized that some of these things on your chart have risen so drastically!
 
I just want to point out one thing and that's the little block of text in the upper right corner of the chart. It's small and hard to read for some of us. It says: Broadly speaking price levels have increased by 74% since 2000. That said the actual numbers vary wildly depending on the the type of good or service. Many consumer goods like toys or TVs have gotten cheaper while critical categories like healthcare and education have sky rocketed.

I would add food and rent to costs that have sky rocketed since 2020. Some of the cost of rent (at least here) is due to a large influx of people in the last few years and a shortage of affordable housing.

I worry for some of the young single parents that I see in my neighborhood app asking for help to meet basic necessities. They always get help of some kind even if it's only a list of food pantries but it seems to me that basic things just keep going up and are not going down. Gas has gone down from a year ago but is still a lot higher than it was in 2020.
 

Think the fact that "its been 2% inflation" up until last year is a joke. Its been more than 2% inflation for years now. Look at what things cost when you were a kid and what they cost now. We bought a brand new Corvette, 427-435 hp in 1966 for $5,000 - most recent sale price of one was $129,000!
 
Personally never let my home owners insurance go up without a fight. This year, called them and the said the price of lumber and other building materials had gone up so much they had to increase the coverage to cover the extra $69,000 bucks or so.
Told them no way - our house is built like a bunker with cement and rebar - wouldn't need all that lumber - they decreased it.

I think a lot of folks are over insured. In any "stick house" fire you are always left with the slab, driveway and land - there is
never a 100% burnout coverage needed. This year we got our car insurance reduced by 10% also due to lite mileage every year.

Gotta talk to them...squeaky wheel gets the grease. Learned that from an insurance agent...lol.
 

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