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Inflation's a bitch. I'm reminded of that every time I go shopping for... well, anything. Anything except a computer or big-screen TV, that is. Those have come way down in price even as their capabilities grow. But pretty much everything else in life? Yeah, way more expensive. I was especially reminded of that today when I was shopping for groceries.
Yes, groceries. One of the basic necessities. Not luxury goods like brand-name hand-bags, not discretionary items like Starbucks Caramel Machiatto Frappuccino, but actual grocery purchases down to basic meat and potatoes (and vegetables, thankyouverymuch).
Compared to right around the start of Covid, so roughly 6 years ago day, prices on items up and down the aisles at the supermarket today are 50%, 100%, or more higher than before.
For example, one of the items I bought today was a 12-pack of soda. Its regular shelf price is now $13. I clearly remember it being $5 six years ago. That's a 160% increase. Yeah, soda isn't a staple at the same level that fresh produce, or meat, or bread is. But all those have gone up, too. And not just by a little bit— because I know inflation is real and is an unavoidable part living in a capitalist world— but by leaps and bounds. And, more saliently, by leaps and bounds more than the government's official rates of inflation.
What's the official rate of inflation? It's varied over the past 6 years from a low near zero to the high single digits. Overall, according to the Bureau of Labor Statistics (BLS) inflation calculator, the consumer price index (CPI) today is 26% higher than in March, 2020.
The overall CPI is up 26%. Yet basic groceries are up 50%, 100%, or more. And it's not just groceries that have shot up way faster than government official numbers. Anyone who pays for their own insurance has seen that increase an average of 10% a year over the last several years. With insurance it's not always a level !0% a year; sometimes it's a whopping 25% or 50% increase all at once, followed by a flat rate the next year. The point is, the difference between reality and government numbers is stark.
Groceries and insurance are just two major household expense items I could name. There are plenty of others that are also going up in cost, way faster than the government CPI. It makes me wonder what the hell else are they measuring? The cost of a Cray 2 (1985) supercomputer? Because computing has come waaaay down in price. You can buy a value-pak of 5,000 Cray 2s today for $800... and don't worry about where you'd put it; it all fits in your pocket! (Hint: it's your smartphone.)
The final note I'll close with is an introspection about whether complaining about inflation/"prices these days" is an old-person thing. I do often feel like I'm become a cranky old codget every time I hesitate to buy something because I remember when it was so much cheaper. But it's actually not just an old-person thing because the rise in prices has been so abrupt. The other day my sister told me that my niece, my 19-year-old niece, complains about "prices these days". She's just 19 and she remembers when everything was noticeably less expensive. ...Because it's only six years ago!
Yes, groceries. One of the basic necessities. Not luxury goods like brand-name hand-bags, not discretionary items like Starbucks Caramel Machiatto Frappuccino, but actual grocery purchases down to basic meat and potatoes (and vegetables, thankyouverymuch).
Compared to right around the start of Covid, so roughly 6 years ago day, prices on items up and down the aisles at the supermarket today are 50%, 100%, or more higher than before.
For example, one of the items I bought today was a 12-pack of soda. Its regular shelf price is now $13. I clearly remember it being $5 six years ago. That's a 160% increase. Yeah, soda isn't a staple at the same level that fresh produce, or meat, or bread is. But all those have gone up, too. And not just by a little bit— because I know inflation is real and is an unavoidable part living in a capitalist world— but by leaps and bounds. And, more saliently, by leaps and bounds more than the government's official rates of inflation.
What's the official rate of inflation? It's varied over the past 6 years from a low near zero to the high single digits. Overall, according to the Bureau of Labor Statistics (BLS) inflation calculator, the consumer price index (CPI) today is 26% higher than in March, 2020.
The overall CPI is up 26%. Yet basic groceries are up 50%, 100%, or more. And it's not just groceries that have shot up way faster than government official numbers. Anyone who pays for their own insurance has seen that increase an average of 10% a year over the last several years. With insurance it's not always a level !0% a year; sometimes it's a whopping 25% or 50% increase all at once, followed by a flat rate the next year. The point is, the difference between reality and government numbers is stark.
Groceries and insurance are just two major household expense items I could name. There are plenty of others that are also going up in cost, way faster than the government CPI. It makes me wonder what the hell else are they measuring? The cost of a Cray 2 (1985) supercomputer? Because computing has come waaaay down in price. You can buy a value-pak of 5,000 Cray 2s today for $800... and don't worry about where you'd put it; it all fits in your pocket! (Hint: it's your smartphone.)
The final note I'll close with is an introspection about whether complaining about inflation/"prices these days" is an old-person thing. I do often feel like I'm become a cranky old codget every time I hesitate to buy something because I remember when it was so much cheaper. But it's actually not just an old-person thing because the rise in prices has been so abrupt. The other day my sister told me that my niece, my 19-year-old niece, complains about "prices these days". She's just 19 and she remembers when everything was noticeably less expensive. ...Because it's only six years ago!
