Prices Continue to Surge: Here’s What’s Becoming More Expensive

[IceWizard]

A customer shops for meat at a Safeway store in
San Francisco, Calif., on Oct. 4, 2021.
(Justin Sullivan/Getty Images)



INFLATION

Prices Continue to Surge:
Here’s What’s Becoming More Expensive


BY TOM OZIMEK
November 13, 2021
Updated: November 13, 2021



With inflation running hot in October, American consumers paid slightly more
for most goods and services compared to the previous month, and
far more compared to a year ago.

The Labor Department’s consumer price index (CPI), a key inflation gauge
that measures how much Americans pay for goods and services, rose 0.9 percent
over the month in October and 6.2 percent over the year, with the annual figure
reflecting the highest pace of price hikes in nearly 31 years.

The agency’s report (pdf), released Nov. 10, breaks down how much prices have
increased for certain key services and goods, including gas, food prices, electricity,
and used cars. Seasonally adjusted figures are only available for the month-over-month
comparison, while seasonally unadjusted data is available in both over-the-year and
over-the-month formats.



Gasoline:
49.6 percent year-over-year and 3.7 percent month-over-month
seasonally unadjusted; 6.1 percent month-over-month, seasonally adjusted

Fuel oil:
59.1 percent year-over-year and 12.3 percent month-over-month
seasonally unadjusted; 12.3 percent month-over-month, seasonally adjusted

Electricity:
6.5 percent year-over-year and minus 0.1 percent month-over-month
seasonally unadjusted; 1.8 percent month-over-month, seasonally adjusted

Utility
(piped) gas service: 28.1 percent year-over-year and 6.5 percent month-over-month
seasonally unadjusted; 6.6 percent month-over-month, seasonally adjusted

Propane, kerosene, and firewood:
34.7 percent year-over-year and 7.9 percent month-over-month
seasonally unadjusted; 6.2 percent month-over-month, seasonally adjusted

Food:
5.3 percent year-over-year and 1.0 percent month-over-month
seasonally unadjusted; 0.9 percent month-over-month, seasonally adjusted

Meats, poultry, fish, and eggs: 
11.9 percent year-over-year and 1.4 percent month-over-month
seasonally unadjusted; 1.7 percent month-over-month, seasonally adjusted

Bacon and similar products: 
20.2 percent year-over-year and 2.1 percent month-over-month
seasonally unadjusted; 2.0 percent month-over-month, seasonally adjusted

Pork chops: 
15.9 percent year-over-year and 5.0 percent month-over-month
seasonally unadjusted; 5.0 percent month-over-month, seasonally adjusted

Uncooked beef steaks: 
24.2 percent year-over-year and 1.9 percent month-over-month
seasonally unadjusted; 1.7 percent month-over-month, seasonally adjusted

Peanut butter: 
6.0 percent year-over-year and 3.3 percent month-over-month
seasonally unadjusted; 3.3 percent month-over-month, seasonally adjusted

Coffee: 
4.7 percent year-over-year and 1.7 percent month-over-month
seasonally unadjusted; 2.8 percent month-over-month, seasonally adjusted

Restaurant prices: 
5.3 percent year-over-year and 0.8 percent month-over-month
seasonally unadjusted; 0.8 percent month-over-month, seasonally adjusted

Furniture and bedding: 
12.0 percent year-over-year and 0.3 percent month-over-month
seasonally unadjusted; 0.3 percent month-over-month, seasonally adjusted

Sporting goods: 
8.7 percent year-over-year and 1.6 percent month-over-month
seasonally unadjusted; 1.6 percent month-over-month, seasonally adjusted

Appliances: 
6.6 percent year-over-year and minus 0.2 percent month-over-month
seasonally unadjusted; minus 0.1 percent month-over-month, seasonally adjusted

Used cars and trucks: 
26.4 percent year-over-year and 1.4 percent month-over-month
seasonally unadjusted; 2.5 percent month-over-month, seasonally adjusted

New cars and trucks: 
9.8 percent year-over-year and 2.6 percent month-over-month
seasonally unadjusted; 1.4 percent month-over-month, seasonally adjusted

Motor vehicle maintenance and repair: 
5.4 percent year-over-year and 1.5 percent month-over-month
seasonally unadjusted; 1.5 percent month-over-month, seasonally adjusted

Delivery services: 
7.5 percent year-over-year and 0.4 percent month-over-month
seasonally unadjusted; 0.7 percent month-over-month, seasonally adjusted

Rent: 
2.7 percent year-over-year and 0.5 percent month-over-month
seasonally unadjusted; 0.4 percent month-over-month, seasonally adjusted

Lodging away from home: 
22.3 percent year-over-year and minus 3.2 percent month-over-month
seasonally unadjusted; 1.4 percent month-over-month, seasonally adjusted


The Labor Department’s consumer price data release followed a separate
government report a day prior showing that producer prices rose in the 12 months
through October at 8.6 percent, matching the September rate, which was the
highest since 2008.

The producer price inflation data added to concerns about consumer price inflation
as higher production costs tend to trickle down to consumers.

Analysts at ING said in a recent note that the extent to which elevated producer
costs will ultimately get passed on to consumers depends partly on whether
businesses will be willing to squeeze margins to maintain volumes.

But that becomes less likely the longer the supply chain bottlenecks persist,
the ING team argued, “which means that we expect goods inflation to further
increase over the coming months and to remain elevated throughout the first half
of the year as pipeline pressures remain fierce.”

With prices running high and little sign of immediate relief, consumer expectations
for what the rate of inflation will be in the future have surged to all-time highs.

The New York Fed’s most recent consumer inflation expectations survey
showed that short-term (one year ahead) inflation expectations rose in
October to 5.7 percent, the highest reading in the history of the series.
The medium-term (three years ahead) inflation expectations remained
unchanged from the prior month’s level of 4.2 percent, which was a record high.

“Inflation concerns are weighing on consumer confidence, and with an annual
rate of north of 6 percent, this will only continue,” Bankrate Chief Financial Analyst
Greg McBride told The Epoch Times in an emailed statement, while predicting
that supply chain bottlenecks “will be with us well into 2022, and with that,
upward pressure on prices.”

“Consumers are feeling it in the pocketbook at the gas pump, grocery store and
tenants in many parts of the country could get sticker shock at their next lease
renewal,” he added.

Biden administration officials and Fed policymakers have repeatedly said that
the current inflationary bout is temporary and will abate once pandemic-related
supply-side bottlenecks get ironed out.

[Lechter]

...and this is being sold to us as "Build Back Better"?

I'd call it "Build Back BS"

[IceWizard]

In Brandon's ...er .... Biden's defense..

He never actually said which country he was going to "Build Back Better"

Most assumed he meant the USA ... Nope

Ice

[Slick]

Well, I really hope something begins to change!!  As a single female on disability and in my 60's, I am not sure
I am going to survive this BS!!
I don't have a mortgage anymore but the increase in everything like home owners insurance, etc. is bringing
me down to the bare minimum to live on.
I am afraid I may have to sell my house and rent because the property and school taxes went thru the roof for 2021!
I still have $1990.00 due on the school tax which is just insane!!
It is a H*ll of a thing when a person in my situation has to even think about selling their home to have a roof over their head.
I am currently looking into a Reverse Mortgage which seems like my only choice.  It will hopefully hold things together
till I die!  But there is no guarantee.
Property tax and School taxes this year are $3600.00.  I don't have $300 extra each month to put back to pay them.
Sorry.  Don't mean to whine but after working over 35 years of my life, I never expected to wind up in this situation!!

Anybody else dealing with something like this or have any suggestions?? 

Thanks All!!

Slick

[Charon]

Wait a minute. That might work. But i don't trust much anymore. Have u advertised for a roomshare on any of the sites. They get whatever, the couch they rent also, and they pay rent. U gotta research that also cuz they will do their best to scam you. And those situations can breed jealousy and violence. So maybe forget about it. But they have room share sites for disabled people. People r gonna be far more desperate to share a house any day now in our areas.

I am so sorry. Life absolutely sux now for so many. For so many good and God fearing and loving people.

I pray that at this time in your life, Slick, that you receive justice and the love of the Lord pouring down on you with health and monetary issues and wisdom.

The wealthy have not been affected one iota by this pandemic. Those of us whom fell ill or disabled, we are living on wings and a prayer. Grant her wisdom.

Hold on Slick. The Courts are too full now. But life is getting worse for many of us daily.

Whom is wise in these financial matters to advise as to this dilemna? The evictions started.

God be with my friend and grant her wisdom and favor and help her now I pray.

[Charon]

https://www.google.com/search?q=housing+...e&ie=UTF-8

roomster.com was one i would read. they have one for an older adult and younger person. Make a room outta something for one or two students or such u trust. furnish or not. allow them kitchen usage but they buy their own foods. allow them to use wifi cuz as students they need to. but i bet they will do shopping for u. they do get rent money from their parents many of them. and some of them do side jobs cuz life is insane. u can make rules about no overnite guests. it is still an option to bring in money so u can keep your house. i dont know the rules for the reverse mortgage. will check tomorrow. but if u see roomster.com, put that in the search engine alone. Or house sharing in xx county, STATE. You will be in charge but younger people can help. and these are usually serious students or young people working. May God grant you wisdom and may you have received some hope today.

[Slick]

Thank you Charon!!

I never thought about that.  I just was not into a stranger but a student might work.
We have a small college in town that was always female only.  It is expensive and there are not many dorm rooms.
The ones they have are 2 people rooms and small.
I have 2 BR/2 Baths.  The second bedroom is furnished and at the front of the house. I have internet, cable, etc. in the room.
I am going to call the school tomorrow.
The Reverse Mortgage - most have restrictions that I don't meet.  I will keep trying.
It has had my brain in a fog trying to even think of solutions with my health the way it is.

Thank you my Angel!!! 
Slick