With Rampant Inflation, Are You Stocking Up Now In Case Prices Continue To Rise?

Leann

Leann

Traveler
We have all dealt with supply chain issues during the height of the pandemic, unable to find different products. Now inflation has reared its ugly head and it seems like costs are rising daily. Keeping that in mind, have you been purchasing multiples of things since they are likely less expensive today than they might be a week from now? I'm not specifically referencing food, although that could be included, but other things.
 

I am stocking up on absolutely nothing. You know when you get to my age, you really don't need a lot of "stuff." I take certain pills but the doctor wouldn't give me a supply for 10 years. It would be against the law and he probably thinks to himself that this guy wouldn't be around in 2032. I think he is right. So, no sweat from me. I think the young people are the ones to sweat bullets when they look at the news. Many of them have mortgages, car/truck payments, furniture loans, appliance loans and they just might be maxed out on all their credit cards. It's gonna be messy when all these factors hit that proverbial fan. As for me, no sweating and no stocking!
 

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If I stock up, someone else may have to go without because of it. I've been finding it a bit of a challenge to substitute something different for an item I can't find. I've found a few that I like better than the item they replaced.

I make up a list on Monday and go to Kroger on Tuesday. If I can't find everything on my list I look for it at Meijer on Friday. If I still haven't found it, I try again on Saturday at Target. Sooner or later I get everything, even if I have to fall back on something else until I do.

It reminds me of when my late husband used to go deer hunting. He and his brothers and friends would refer to getting a deer as 'bagging a deer'. So, going grocery shopping boils down to 'sometimes I bag something, sometimes I don't'. I just go back out shopping (or hunting) again and try to 'bag' it then.
 
I stocked up on food back at the beginning of this mess (2020). Now it is slow drawdown and replenishment, and of course perishables. I am pretty much at the mercy of inflation for food.

As far as energy, I filled up gasoline in the car and cans for the mower, back in late February, early March and still have over half a tank. As for all the other stuff I might want... I don't think inflation will be a factor much longer and I will bide my time. Then probably decide... I still don't want it.
 
I'm not a big believer in spending money to save money.

I've been buying less or at least differently.

I was on automatic pilot and bought many of the same items from week to week.

Now I try to look more closely at value vs. price, cost per meal/serving, etc...

I also try to look at less expensive options, skip the deli in favor of a can of tuna, frozen vegetables over fresh, etc...

I feel bad that I wasn't more mindful before the price increases.

I have to admit that what I consider to be a meal today doesn't come close to the meals that I grew up with.
 
No opportunity for me to stock up since I'm getting rid of stuff to be free to travel, but it would be a much better plan to use the money to buy an i-bond which is paying more than 9% interest right now. Of course you have to hold it for a minimum of a year, and if you sell before it is 5 yrs old you lose 3 months of interest, and the interest rate is changed every 6 months based on inflation. But it still seems like an awesome place to put any extra money right now. Unfortunately I cannot because I made the mistake of putting my new address when I created an account on TreasuryDirect, and so their authentication check failed and the account is locked. Apparently the only way to unlock it is to get a bank to provide a signature guarantee stamp on a form for me to send them, but, my banking is online and neither my bank nor my investments have a local physical location, and all the banks I've checked with won't provide the stamp unless I've been a customer of theirs for 60 days and still have active account. I am so frustrated.
 
No not really stocking up per se.. but I am replacing things that need replacing now , our inflation is at almost 10 % and ready to rise

again..highest in 30 years...

Inflation is the increase in the price of something over time. For example, if a loaf of bread costs £1 one year and £1.07 the next year, then that's an annual inflation rate of 7%.
The headline inflation rate is an average, and price rises in different areas rise at different rates. One food industry boss has warned that food prices could rise by up to 15% this year.

..so I'm replacing things before the completely expire .. not waiting for them to fall aprt before I buy new , expecting that certain items will be if not beyond my financial reach but certainly more expensive that I'd be willing to pay for them
 
I've reconsidered when it comes to buying big ticket items. I found cheaper car and home insurance so I saved $300 right there to put toward inflated prices. I used to look at new cars once the warranty would run out on the old one, but there's a chunk I won't spend if I hang on to what I have. All the above should cover price increases for awhile.
 
The Bank of England chief today issued an 'apocalyptic' warning about soaring food prices as he told MPs the Ukraine war could yet deepen the cost-of-living crisis.

Governor Andrew Bailey revealed how further food inflation was a 'major worry' for the central bank, with particular concerns about wheat and cooking oil.

He described how the finance minister in Kyiv had told him of Ukraine's problems in shipping out those goods, as Russia continues its barbaric assault on the country.

Ukraine is estimated to supply 10 per cent of the world's wheat and is also a major producer of sunflower oil.

Soaring prices for staples have already had a huge impact on food production around the globe and been a key driver of runaway prices squeezing household budgets.

Appearing before the House of Commons' Treasury Committee, Mr Bailey warned that problems linked to the Ukraine conflict were 'getting worse'.

In his exchanges with MPs, the Governor doubled down on his previous claim that workers should not be demanding big pay rises - despite the cost-of-living crisis - in an attempt to dampen rocketing inflation.

Mr Bailey told MPs Ukraine's conflict with Russia was 'the big risk' when it came to further rises in prices.

He said: 'One is the risk of a further energy price shock, which would come from the cutting off of gas and distillates, such as products like diesel.

'And then, the one which I might sound rather apocalyptic about, is food.

'Two things the finance minister said is that there is food in store but they can’t get it out.

'While he was optimistic about crop planting, as a major supplier of wheat and cooking oil, he said we have no way of shipping it out and that is getting worse.

'It is a major worry for this country and a major worry for the developing world.'

Earlier this year, Mr Bailey provoked a furious backlash over his claim workers should not to ask for big pay rises in order to help stop prices rising out of control.
https://www.dailymail.co.uk/news/ar...ic-food-price-warning-impact-Ukraine-war.html
 
Gary O' said:
No
We stay stocked up
Been that way since living in the mountains, 50 mi from town.

Now, we just replenish and rotate
Nothing gets low
Click to expand...
Same here. We've always maintained a well stocked backup pantry, but increased our stock levels after seeing major shortages and purchase restrictions in 2019. Our pantry remains at those higher levels.

If something we use regularly goes on sale, I usually buy extra, but that's always been true.
 

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