Not only is food more expensive lately but I've been noticing creeping "shrinkflation" in products as well. My chocolate peanut butter haagen dazs is no longer a full pint! Also Stella beer in bottles became smaller- they're 11.2 fl oz instead of 12.
I am cheering the downfall of the US Petro Dollar. Decentralized peer to peer digital cash is a drop in ready replacement for the corruption we have now.
Not joking
The problem with the US is you outsourced manufacturing to China. Now China is a rather independent economy, you can't back out. The damage is done.
We can absolutely back out it just won’t necessarily cripple China. Then again they rely on foreign resources and your local Starbucks doesn’t accept the rumimbi(sic).
Does DoL publish the data behind CPI-U? Doesn’t really line up with my grocery experience over the last couple of years but I doubt they just make this stuff up.
Not everywhere and not all commodities. Some industrially produced food such as chicken is cheaper in real terms in the UK than it was forty years ago.
title: Food is more expensive than it has been in decades
article: only mentions statistics like "largest 12-month increase since"
headline/article discrepancy aside, since since the food component of CPI usually outstrips overall inflation[1], it's almost guaranteed that "food is more expensive than it has been ever", even if you do adjust for inflation. "Food is more expensive than it has been in decades" could mean anything between mass famine + bread lines, and normal inflation.
20 comments
[ 3.3 ms ] story [ 55.8 ms ] threadNot joking The problem with the US is you outsourced manufacturing to China. Now China is a rather independent economy, you can't back out. The damage is done.
See also, for instance, https://jomcpeak.expressions.syr.edu/wp-content/uploads/Appl...
title: Food is more expensive than it has been in decades
article: only mentions statistics like "largest 12-month increase since"
headline/article discrepancy aside, since since the food component of CPI usually outstrips overall inflation[1], it's almost guaranteed that "food is more expensive than it has been ever", even if you do adjust for inflation. "Food is more expensive than it has been in decades" could mean anything between mass famine + bread lines, and normal inflation.
[1] https://www.aei.org/wp-content/uploads/2020/01/cpi2020-875x1...
Good time to go vegan I guess.