U.S. Inflation Reached 30-Year High in October 2021

So all I know is in the '90s our business and industry(Bridal and Social Occasion apparel) took a huge hit, our retail stores that are left are doing well but it feels fleeting and it in no way covers the losses from 2020 on. So what's next? what is gonna turn this economy around? I've always believed the old adage is it's a cycle and it can't be stopped, but it can be made considerably worse or longer-lasting. Well, last time it lasted in my business for about 10 years...


www.wsj.com...

Consumer-price index rose at 6.2% annual rate, while core index was up 4.6%

U.S. inflation hit a three-decade high in October—rising at a 6.2% annual rate—as pandemic-related supply shortages and continued strength in consumer demand continued to push up prices.

The Labor Department said the consumer-price index, which measures what consumers pay for goods and services, increased at the fastest annual pace since 1990. Inflation also topped 5% for the fifth straight month.

It was amazing to see how much prices were up in WALMART yesterday. Shelves full, but prices up quite a bit from just 2 weeks ago.

Gasoline at $3.58, compared to $1.89 this time last year.

2020 Chart: www.automotive-fleet.com...

a reply to: putnam6
Sorry to say it, but I think inflation is just getting started.

a reply to: putnam6

Since we can't search based on thread-creation date, I suggest you add "2021" at the end of your title.

originally posted by: carewemust
It was amazing to see how much prices were up in WALMART yesterday. Shelves full, but prices up quite a bit from just 2 weeks ago.

Gasoline at $3.58, compared to $1.89 this time last year.

2020 Chart: www.automotive-fleet.com...

Gas is 5 bucks a gallon here in California. I heard that one place on the coast its $8.50

$118 was not enough to fill my trucks tank.

Everything is great! 81 million people told us they want to build back better.

a reply to: putnam6

The law of "unintended" consequences.

Costs are up all across the board because of the domino effect. Labor costs are way up causing manufacturers to raise prices on the material. Those prices move down the production chain and the only recourse is to raise prices.
Who ultimately pays the price?
Consumers.

I warned people about pay increases for labor.
Hang on, it's not over yet.

originally posted by: visitedbythem

originally posted by: carewemust
It was amazing to see how much prices were up in WALMART yesterday. Shelves full, but prices up quite a bit from just 2 weeks ago.

Gasoline at $3.58, compared to $1.89 this time last year.

2020 Chart: www.automotive-fleet.com...

Gas is 5 bucks a gallon here in California. I heard that one place on the coast its $8.50

$118 was not enough to fill my trucks tank.

It is part of the grand plan to push everyone to EVs. Make gas unaffordable.

Hubs swung into one of the chains we don't usually shop at anymore for groceries (Family Fare) to grab lettuce and tomatoes for BLTs, and ended up paying $5 for a head of Iceberg lettuce, and two #ing tomatoes. And the lettuce cost more than the damn tomatoes ($3, he said)

Five bucks, for that. Apparently, the Cali-originating fresh foods are through the roof (duh, drought in drought-native environment, whoda thunk it)

I highly suggest folks learn to Eat Seasonally Local. Local isn't static pricing, it's rising too, but it's a LOT cheaper than something from across the country. learn to like what the land gives where you are, it's that simple. I'm trying to learn to love more squashes myself (not fond of squash in general, too sweet...)

originally posted by: Edumakated

originally posted by: visitedbythem

originally posted by: carewemust
It was amazing to see how much prices were up in WALMART yesterday. Shelves full, but prices up quite a bit from just 2 weeks ago.

Gasoline at $3.58, compared to $1.89 this time last year.

2020 Chart: www.automotive-fleet.com...

Gas is 5 bucks a gallon here in California. I heard that one place on the coast its $8.50

$118 was not enough to fill my trucks tank.

It is part of the grand plan to push everyone to EVs. Make gas unaffordable.

Transportation prices (airlines, shipping, etc.) will go through the roof. They can't use Electronic Vehicles. Short sightedness by Biden/Democrats. 12 months...they're gone.

originally posted by: visitedbythem

originally posted by: carewemust
It was amazing to see how much prices were up in WALMART yesterday. Shelves full, but prices up quite a bit from just 2 weeks ago.

Gasoline at $3.58, compared to $1.89 this time last year.

2020 Chart: www.automotive-fleet.com...

Gas is 5 bucks a gallon here in California. I heard that one place on the coast its $8.50

$118 was not enough to fill my trucks tank.

My state (IL) is now losing over 300 individuals/businesses every day. Obese mafia governor is raising fees, taxes, etc., to cover the loss revenue and increasing inflation. Very ugly situation developing.

People with the expensive cars don't seem to mind the gas prices. But 98% of everyone else is really pissed off!

originally posted by: carewemust

originally posted by: Edumakated

originally posted by: visitedbythem

originally posted by: carewemust
It was amazing to see how much prices were up in WALMART yesterday. Shelves full, but prices up quite a bit from just 2 weeks ago.

Gasoline at $3.58, compared to $1.89 this time last year.

2020 Chart: www.automotive-fleet.com...

Gas is 5 bucks a gallon here in California. I heard that one place on the coast its $8.50

$118 was not enough to fill my trucks tank.

It is part of the grand plan to push everyone to EVs. Make gas unaffordable.

Transportation prices (airlines, shipping, etc.) will go through the roof. They can't use Electronic Vehicles. Short sightedness by Biden/Democrats. 12 months...they're gone.

Yup. These idiots don't understand that hydrocarbons are what make the world go around. It isn't just gas guzzling cars. Plastics. Home energy. Food production. Manufacturing. Everything is based on oil production.

I am all for electric cars. A huge fan of them. However, there is no reason to be trying to force people into them. People will adapt as the cars improve and the ROI / benefit at an individual level makes sense to do so.

originally posted by: carewemust

originally posted by: visitedbythem

originally posted by: carewemust
It was amazing to see how much prices were up in WALMART yesterday. Shelves full, but prices up quite a bit from just 2 weeks ago.

Gasoline at $3.58, compared to $1.89 this time last year.

2020 Chart: www.automotive-fleet.com...

Gas is 5 bucks a gallon here in California. I heard that one place on the coast its $8.50

$118 was not enough to fill my trucks tank.

My state (IL) is now losing over 300 individuals/businesses every day. Obese mafia governor is raising fees, taxes, etc., to cover the loss revenue and increasing inflation. Very ugly situation developing.

People with the expensive cars don't seem to mind the gas prices. But 98% of everyone else is really pissed off!

Trust me, even the well off mind. Those that are going to get hurt are the middle class workers (especially those in the trades) who drive big trucks and have long commutes.

Trump showed that we can have low gas prices. Gas is a commodity. Just the threat of new pipelines and supply lowers gas prices. There is no reason gas should be going through the roof other than the anti-production polices of the Brandon administration.

a reply to: Edumakated

For some reason people seem to think oil is all gasoline and diesel. They have no clue about the products that come from petrochemical plants. Fertilizer, medical supplies etc...

a reply to: Edumakated

This $5,000+ price tag for replacing an electric battery is a big turn off, isn't it?

www.bloomberg.com...

Surprise

Boom

Bang

All Planned 😬

originally posted by: carewemust
a reply to: Edumakated

This $5,000+ price tag for replacing an electric battery is a big turn off, isn't it?

www.bloomberg.com...

I don't think so. You will see more adoption when:

1) Legacy car companies offer electric cars that are designed similar to a regular gas car. Legacy car companies keep designing these Tron toy like electric cars when people just want a normal car that is electric. This is largely why Tesla took off. The cars look normal. If I want to buy an electric BMW 3 series, I don't want it to have neon lights and all the other bullsh!t car companies put on electric cars. I want it to look like a 3 series.

2) People get over range anxiety. People have this unrealistic expectation that they need 400 mile range and to be able to charge a car up in 5 minutes. The reality is that 99.9% of people drive less than 30 miles a day. Even if someone drives 100+ miles a day, there is enough range. Electric cars are not like gas cars in that you run them till empty. With electric cars, typically you are always fully charged as most people charge at home over night. So you literally leave home everyday with a full charge.

3) Charging network. In major cities, chargers are pretty convenient. However, many rural areas lack the charging infrastructure (outside of one's home at least).

Electric cars also should have cheaper maintenance. You don't have as many moving parts. No oil changes.

originally posted by: Bluntone22
a reply to: putnam6

The law of "unintended" consequences.

Costs are up all across the board because of the domino effect. Labor costs are way up causing manufacturers to raise prices on the material. Those prices move down the production chain and the only recourse is to raise prices.
Who ultimately pays the price?
Consumers.

I warned people about pay increases for labor.
Hang on, it's not over yet.

As has been mentioned it's not just labor cost either, with transportation and shipping costs going up it's not just a snowball effect it can turn into an avalanche.

We hear complaints about shipping costs, gas prices up fewer people travel and people have less left over to spend elsewhere. the effects are long-lasting and wide-ranging. Hard to get momentum when one state is opened up and the next one is still restricted.

originally posted by: carewemust
It was amazing to see how much prices were up in WALMART yesterday. Shelves full, but prices up quite a bit from just 2 weeks ago.

Gasoline at $3.58, compared to $1.89 this time last year.

2020 Chart: www.automotive-fleet.com...

Joe Biden should be very proud.

originally posted by: Nyiah
Hubs swung into one of the chains we don't usually shop at anymore for groceries (Family Fare) to grab lettuce and tomatoes for BLTs, and ended up paying $5 for a head of Iceberg lettuce, and two #ing tomatoes. And the lettuce cost more than the damn tomatoes ($3, he said)

Five bucks, for that. Apparently, the Cali-originating fresh foods are through the roof (duh, drought in drought-native environment, whoda thunk it)

I highly suggest folks learn to Eat Seasonally Local. Local isn't static pricing, it's rising too, but it's a LOT cheaper than something from across the country. learn to like what the land gives where you are, it's that simple. I'm trying to learn to love more squashes myself (not fond of squash in general, too sweet...)

At the local store, regular iceberg lettuce was three bucks a head in Marquette. But in the same store, the organic head of lettuce, it was a little smaller head though, was two dollars and twenty nine cents. So the Organic produce is not swinging so wildly like the commercial stuff seems to swing.