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What is the REAL inflation rate?

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POP

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Forget govt. #s - real shocker, they are lying to us.

In reality, inflation is skyrocketing when you use REAL measurements.

Obama is NOTHING but a liar.

http://www.blacklistednews.com/The_...Soared_160%_Since_2001/53141/0/38/38/Y/M.html

The most out-of-control price increases are in health care and high end meats.

A Ruth Chris dinner used to be around a c note for two (we don't order wine).

Last time it was close to $200 (with tip).

Filets used to run us $14 a lb. Now they are $25 per lb.

rc_fm007.jpg
 
Sounds like you need to pick another restaurant more in line with what you're comfortable paying. Not sure what Obama, or any president has to do with rising - or falling - food prices. Maybe check with Ruth Chris management on why they doubled their prices.

Consumer Price Index (CPI) for Food (not seasonally adjusted)
http://www.ers.usda.gov/data-products/food-price-outlook/summary-findings.aspx

Beef and veal prices decreased 0.6 percent from May to June and are 6.7 percent lower than this time last year.
In June, pork prices rose 1.2 percent from the previous month and are still 1.4 percent lower year-over-year.

Inflation rates for farm-level cattle and wholesale beef prices were high in 2014, as U.S. cattle herd sizes remained near historically low levels. Inflationary pressures have lessened, however, and farm-level cattle prices started to deflate in the second half of 2015. In June, cattle prices decreased an additional 6.3 percent and are down 22 percent since this time last year. Wholesale beef prices, however, increased in June, rising 7.9 percent on the month, but are down 12.9 percent from the previous year. In 2016, ERS predicts farm-level cattle prices to fall between 14.0 and 13.0 percent and wholesale beef prices to decrease by 12.5 to 11.5 percent. Farm-level cattle prices are expected to increase 0.0 to 1.0 percent, and wholesale beef prices are expected to decline 2.0 to 1.0 percent in 2017.
Click to expand...
 
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Ruth's Chris is way over-rated... and has a stupid name... Ruth's?
 
I don't remember what all is in the "basket of goods" used to calculate the CPI. I know the normal CPI leaves out food and fuel, which seems crazy to me. In any event, what it ought to be is something simple that every American can relate to. Like:

X gallon of gas
X gallon milk
X loaf of bread
X lb ground beef (80/20)
X lb chicken
X lb potatoes
X lb rice
etc.

You get the picture. Fill up a grocery cart or two with, mostly, basics, to feed a family of 4 for a week. That is the inflation Americans will see and feel.
 
I remember when the grocers' association was complaining about the impact ethanol had on the price of corn and the subsequent impact upon consumers' grocery bills. Corn, and pretty much all grains for that matter, costs less than half what it was at its peak, but I can't tell that my grocery bill is any cheaper. If anything it's gone up. Where is the outrage from the grocers' association?
 
I always thought Morton's was quite a bit better than Ruth's Chris and I'm sure there are others out there that are quite a bit better. I don't eat at those places very often, so maybe I'm a poor judge.
 
ark steel said:
I don't remember what all is in the "basket of goods" used to calculate the CPI. I know the normal CPI leaves out food and fuel, which seems crazy to me. In any event, what it ought to be is something simple that every American can relate to. Like:

X gallon of gas
X gallon milk
X loaf of bread
X lb ground beef (80/20)
X lb chicken
X lb potatoes
X lb rice
etc.

You get the picture. Fill up a grocery cart or two with, mostly, basics, to feed a family of 4 for a week. That is the inflation Americans will see and feel.
Click to expand...

Ask and ye shall receive:

http://data.bls.gov/cgi-bin/surveymost?ap

Of course this data is from our democratic lead government so take it for what it's worth....
 
ark steel said:
I don't remember what all is in the "basket of goods" used to calculate the CPI. I know the normal CPI leaves out food and fuel, which seems crazy to me. In any event, what it ought to be is something simple that every American can relate to. Like:

X gallon of gas
X gallon milk
X loaf of bread
X lb ground beef (80/20)
X lb chicken
X lb potatoes
X lb rice
etc.

You get the picture. Fill up a grocery cart or two with, mostly, basics, to feed a family of 4 for a week. That is the inflation Americans will see and feel.
Click to expand...

I was talking about this with my son today. We were talking about the worth of the money. I used the analogy of buying cars to show that even though people made less back in the day the money they made bought more. New cars used to cost about the equivalent of 1/3 of a years salary now they cost 3/4 to a full years salary.
 
DBS1970 said:
I was talking about this with my son today. We were talking about the worth of the money. I used the analogy of buying cars to show that even though people made less back in the day the money they made bought more. New cars used to cost about the equivalent of 1/3 of a years salary now they cost 3/4 to a full years salary.
Click to expand...

I think much of it is paying for performance, emissions, convenience, quality and safety improvements. Cars don't depreciate as quickly as they used to. That being said, I think buying new cars is insane. Both of my cars were 4 years old when I bought them and combined cost about 1/4 of my salary.
 
Paid $10 for a 1lb bag of almonds today. Had no idea until they rang it up.
 
POP said:
Forget govt. #s - real shocker, they are lying to us.

In reality, inflation is skyrocketing when you use REAL measurements.

Obama is NOTHING but a liar.

http://www.blacklistednews.com/The_...Soared_160%_Since_2001/53141/0/38/38/Y/M.html

The most out-of-control price increases are in health care and high end meats.

A Ruth Chris dinner used to be around a c note for two (we don't order wine).

Last time it was close to $200 (with tip).

Filets used to run us $14 a lb. Now they are $25 per lb.

rc_fm007.jpg
Click to expand...

try Outback or longhorn. same basic steak less stuffy atmosphere a lot cheaper price
 
Have to disagree. There is a difference in quality and tastiness.
 
I paid $16 for a 3lb bag of almonds the other day. You were rather ripped off.

You can't just compare the price of something, but rather the value in the product. Many products today have more
technology and value in them. Look at TV's. You can get a 50" Digital Smart TV for under $400 today. Couldn't
get that much value in a TV 10 years ago. TV's are in a deflation mode.

Cars are the same thing. Cars use to last 3 to 5 years and got low gas mileage. Now you can buy a car that will last 15 years
and get much better gas mileage. If you look at cost per year, cars are in deflation mode. If you are smart enough to buy
used cars, they are in ultra-deflation mode.
 
21STEELERS21 said:
I paid $16 for a 3lb bag of almonds the other day. You were rather ripped off.

You can't just compare the price of something, but rather the value in the product. Many products today have more
technology and value in them. Look at TV's. You can get a 50" Digital Smart TV for under $400 today. Couldn't
get that much value in a TV 10 years ago. TV's are in a deflation mode.

Cars are the same thing. Cars use to last 3 to 5 years and got low gas mileage. Now you can buy a car that will last 15 years
and get much better gas mileage. If you look at cost per year, cars are in deflation mode. If you are smart enough to buy
used cars, they are in ultra-deflation mode.
Click to expand...

And iPads, phones and FitBits?
 
DBS1970 said:
I was talking about this with my son today. We were talking about the worth of the money. I used the analogy of buying cars to show that even though people made less back in the day the money they made bought more. New cars used to cost about the equivalent of 1/3 of a years salary now they cost 3/4 to a full years salary.
Click to expand...

Our world as we know it is changing very rapidly and our gov't is only exasterbating the problems with debt and runaway entitlements.

Here's a picture book example.

http://click.heritage.org/ds0eWtprDT0Tj00H4d030M0
 
POP said:
Forget govt. #s - real shocker, they are lying to us.

In reality, inflation is skyrocketing when you use REAL measurements.

Obama is NOTHING but a liar.

http://www.blacklistednews.com/The_...Soared_160%_Since_2001/53141/0/38/38/Y/M.html

The most out-of-control price increases are in health care and high end meats.

A Ruth Chris dinner used to be around a c note for two (we don't order wine).

Last time it was close to $200 (with tip).

Filets used to run us $14 a lb. Now they are $25 per lb.

rc_fm007.jpg
Click to expand...

Ruth's is ****. Their meat comes from milk cows who been depleted of their nutrients. At our independent steakhouse a 14oz filet is $55. The quality of steak that we buy is the top 2% available in the US. That aside, the cost of meat has skyrocketed over the past few years, for sure. I always to eat at local restaurants instead of chains but Morton's and The Capitol Grill are far superior to Ruth's.
 
Food inflation is not that bad, however, in I have noticed several upscale restaurants have raised their price.
 
Coach said:
Food inflation is not that bad, however, in I have noticed several upscale restaurants have raised their price.
Click to expand...

It was way worse for a while, I think. There was something about the ethanol subsidies being reduced or removed a few years ago and, if true, that would have helped meat, eggs, and stuff like that.
 
The food inflation is heavily impacted on where you live. Competition drives down prices and rural areas where there are only 1 or 2 grocery
options experience inflation particularly where people are leaving to find jobs elsewhere. Where I live, food prices are deflating because of
heavy competition. Within 15 minutes of my house I can grocery shop at: Walmart, Giant, Food Lion, Safeway, Aldis, Wegmans, BJ's, Costco
and Shoppers Food Warehouse. In next 6 months a LIDL is opening (largest grocer in Europe) and a large Amish Grocery. I've never seen so
many grocery options. It's likely because its become a shopping hub where people drive in from rural areas, load up and head home.
 
We also have a Saturday market where 20 local farms can sell directly to the public.
 
BLITZ said:
try Outback or longhorn. same basic steak less stuffy atmosphere a lot cheaper price
Click to expand...

I like Longhorn, but I don't think the filets at Outback or Longhorn are nearly the quality of RC.
 
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