Aside from the supply and labor shortages (seeing a lot of empty shelves at my local Harris Teeter and Costco and hiring signs literally everywhere I go), have you also noticed prices of goods/services increasing?
I read that in hotels, they didn’t change the prices as much but now lo longer offer daily cleaning services.
I find it interesting that you in the US are noticing the same things as we in the UK and throughout Europe the same issues are happening. More so that this phenomenon is going on as we exit our respective versions of “Lockdown” - so it seems that the low-paid have managed to find other ways of surviving than working the same jobs as before.
Where they have gone is something of a mystery to me - any ideas ?
However on the “Inflation” front - historically inflation is the normal state of affairs and there is much doubt as to whether any monetary system could actually survive long -term without it.
It is true however that different strategies are required by individuals who want to progress financially in a modestly inflationary situation.
Yes, increased prices and noticeable degradation in service levels whether that is face to face or on the telephone.
Three examples from the UK that make Pinocchio look like he has a short nose:
Petrol (gasoline) Up from about £1.10 per litre to £1.39 per litre in a few months (+26%). We do get more litres to the gallon than the US, but the current rack rate is about $1.89 / litre or about $7.20 per US gallon.
Electricity and gas. Our electricity just went up this week from about £0.16 / kWh to £0.24 / kWh. That is not just our provider. It is across the board. It was £0.12 last year. That is a 100% increase. In US terms that is $0.32 / kWh. At least we measure electricity the same way in kWh.
Small TV. This is anecdotal but when I go to Tesco out of town superstore, I always glance at the price of the lowest cost small TV. These had been going down in price for the past decade from about £180 to £100. Now about £125. Not accurate, but an indication of increased price of imported goods. About a 25% increase.
So when you get 0.1% per year interest on cash deposit in your bank account, a 2% yield on large cap shares, and your fiat costs for fuel just went up by between 26% and 100%, I’m not convinced that the published inflation rates of 2% to 3% per year are anything other than fake news.
I used to read a lot on shadowstats.com - but I think there is less there than before without subscription.
I recently just read you guys are having gas shortages there too! Crazy.
This worries me. Just got gas yesterday and per gallon was something like $3.4. This will for sure be passed on to the consumers. Thinking about trucks and all that.
Pop - in UK gas means gas for home heating etc, whereas gas in US means petrol (motor fuel) in UK - weird I know but bottom line is no shortage of gas (lpg) in UK just high prices
Gas (petrol) is heavily taxed in UK unlike US - cost per gallon (litre) is roughly 30% liquid, 70% tax.
Now to smoking - around 80% of cost of a cigarette is tax in UK - so mostly we pay tax on the exhaust smoke from our cars and from the cigar puffers
That’s an interesting question. Actually, the wages here where I live are not high enough for me and the currency is weaker than previous years. That’s why I spend so long looking for jobs because I demand a high enough wage.
Btw, the UK is talking about bringing in trained butchers from abroad to fill in the vacancies in the animal farms. Well, there are already plenty of trained butchers in the UK. I’m talking about the criminals that keep stabbing and shooting people in the streets. "joke"
Same as my experience in the UK. The price of fuel is the biggest indicator for sure and one that we are all seeing with it being a big enough hike in the wholesale price that it is putting companies out of business right left and centre. Less competition leads to more mark up from those that survive.
Gas, meats specifically, groceries in general. But going to the store to buy gym clothes, everything seems more expensive. Like $50 for a dry fit short sleeve shirt. $35-40 for some shorts. Expensive!