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[–] 168 points 3 years ago (10 children)

It's not inflation. It's price gouging.

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  • [–] 24 points 3 years ago (6 children)

    Price gouging coincidentally at the same time across the entire economy, soon after an enormous increase in the monetary supply.

    A---Aurora Borealis? At this time of year! At this time of day! In this part of the country! Localized entirely within your kitchen?!?

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  • [–] 78 points 3 years ago (26 children)

    Record high prices coinciding with record high profits and plunging cost of good sold, followed by even higher prices. They are testing to see what the pain thresholds are. All that's gonna happen is that business will start to collapse as consumer spending plummets because people can barely afford to survive. Will the system autocorrect or collapse? Will the government ever enforce consumer protection laws ever again? ¯⁠\⁠_⁠(⁠ツ⁠)⁠_⁠/⁠¯

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  • [–] 12 points 3 years ago (1 child)

    There is inflation I agree, but I think a significant percentage is from price gounging, around 30%. I saw a study detailing this that I could find and link if you want.

    If you're wondering how it can happen simultaneously accross whole countries and much of the world, you can look up the concept of "price leadership."

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    [–] 132 points 3 years ago (5 children)

    tbh both inflation numbers are hot

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    [–] 113 points 3 years ago (20 children)

    The inflation report that came out today specifically omits fuel and grocery prices because those are "volatile" categories. My grocery bill is double what it was two years ago and has been for six months. I wouldn't call that volatile.

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  • [–] 38 points 3 years ago (5 children)

    Groceries are stupid, it cost me $20 to make a lasagna that last year cost $10.

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  • [–] 23 points 3 years ago*

    They didn't omit those prices. CPI and Core are two separate measurements. Core excludes food and energy.

    In fact, excluding food and energy actually made the numbers worse. CPI is at 3.2% YoY. Core is at 4.7%.

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    [+] 78 points 3 years ago* (last edited 1 year ago)
    [–] 34 points 3 years ago

    In some ways, the reported inflation is real. The main increase in cost is not actually real, or caused by anything except greed.

    There's also a lot of hidden costs that aren't factored into inflation as strongly as they should be, or at all. Those hidden fees have also gone up.

    So the entire business segment is just hand waving the whole issue because they know it will be reported wrong; they're going to keep raising prices and point to the "official" inflation numbers and continue to feed us the bullshit that inflation isn't a problem to justify never giving their employees a raise.

    IDK how stupid they think we are, but I'm sure they think we're little more than retarded (I mean that in the clinical sense). They're (very publically) showing massive profit numbers, using inflation, or the lack thereof, to justify slave wages, while ripping off their users as much as they think that they can without creating riots.

    More for them, less for us. As it's always been.

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  • [–] 33 points 3 years ago (7 children)

    My country's news say we're improving with a straight face. And I'm like "improving in what? Making the country sink more efficiently?"

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    [–] 33 points 3 years ago (13 children)

    I wish my country's government had the testacles to cap prices on food. I order food mostly online and I compared prices from 2 years ago and most things are at least 200% more expensive, cheese for example is like 600% though.

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  • [–] 30 points 3 years ago (10 children)

    If they cap prices on food, then you'll see food shortages instead of expensive food

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  • [–] 37 points 3 years ago (1 child)

    How so? In my country, certain basic food items are priced capped AND rationed, meaning you're only allowed to buy a certain amount of it at a time.

    > but but but muh freedum market$$

    No! Worldwide, the agricultural sector is THE MOST SUBSIDISED economic field. You can't have it both ways. If taxpayers' money is used to prop up your business, you have a duty to the taxpayers and country.

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  • [–] 14 points 3 years ago (23 children)

    Subsidies may distort the market but they don't change the existence of the supply/demand curve. Any producer of a product is going to sell their goods to the highest bidder, and if someone is capping what a product can sell for that means capping what they can purchase the product for. Grocery stores aren't going to sell for a loss.

    If the central government enacts a scheme of rationing and central purchasing, that's one thing. But in a free market situation if a grocery in country A will buy lentils for €1 a kg and country B can only pay €.50 then the lentils are getting sold to country A until that demand is fulfilled. Which means shortages in country B.

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    [–] 28 points 3 years ago (1 child)
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  • [–] 25 points 3 years ago

    Feels like everything is too expensive these days. Rent now takes more than 1/3rd of my income and I'm trying out different foods so that I can save on groceries. Hell, I don't drive anymore if I can avoid it. Shit is getting rough out here.

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  • [–] 23 points 3 years ago (22 children)

    Well, thing is, some product categories probably aren’t suffering the same price hikes as groceries, fuel and rent. Stuff like cable and internet, clothing and office supplies are probably bringing the average down (please tell me if they’re having inflation, I pulled these categories out of my butt).

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    [–] 11 points 3 years ago

    The only happy inflation for me is the one in my pants. This image does it

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