Sometimes, and I do mean quite rarely, the mainstream news media does not lie:
Soaring Food Prices Undermine Biden’s Economic Pitch to Voters – Bloomberg
Some Mountain West states have the highest grocery prices in the nation – Nevada NPR
Grocery price inflation: Why are Americans paying so much for food? – Washington Post
Colorado experts explain why grocery prices keep rising, provide tips on saving money today – CBS News
With food inflation still hot, consumers turn to buy now, pay later to buy groceries and takeout – YahooFinance
Of course other members of the media run counter stories claiming that grocery store prices have hit a plateau and “could” start to drop. Weird how that happened right before the 1980 election also, despite the reality everyone witnessed in their own families.
Unfortunately for the consumer, that does not help with higher energy prices, higher insurance prices, higher health care prices, etc.
If one takes a trip to the grocery store, they can get an idea of what Creepflation really is:
This is a 22 oz. bottle of Bosco Chocolate flavored syrup taken at Publix this past week. It used to be 24 oz and cost $2.39 just two years ago. But as the inflationary surges kept happening, packaging got smaller and price increases “crept up” some 30 to 40 cents at a time. Creepflation in action with shrinkflation for the assist.
Next up, another relatively cheap item from Publix, in the past, America’s family survival protein:
My reader’s eyes are not deceiving them: $7.95 for 1 pound of beef bologna, $3.09 for 1 pound of chicken, pork, and beef parts mixed bologna. Just a little creepflation from the days of 99¢, isn’t it?
But let’s not pick on Publix, I managed to hit BJ’s Wholesale Club who has been running out of bottle water on a regular basis. Now I know why:
Still $3.99 but 8 less bottles. Weird how that happens. Inflation creeps in again.
If anyone thinks the discount stores are not playing this game, think again. Aldi’s is a frequent stop for our family because it does provide a bigger bang for the depreciating buck. Last week these paper towels were $6.79 per six pack. This week it’s another creeping up in price:
Up ten cents in one week. However I failed to see if the number of sheets was reduced also, so we’ll call this price creepflation from now and I’ll start doing a better job of tracking the potential shrinkflation there also.
Lastly, my favorite indicator, the once almighty savior of the poor and lower middle class, ye Olde Dollar Tree:
With the average price of a 2 liter Coke now $3.49 per bottle, this might seem like a bargain considering one gets 0.25 more liters per bottle. In reality though, it’s just more inflation creeping into every store, every service, everything the average American consumer spends their hard earned money on.
If one does not believe me, please show me the massive deflationary price decline from the Bureau of Labor Statistics on the chart below:
The truth is that inflation, indexed against the last true deflationary recession ending in June of 2009 has been allowed to creep in and out of the economy until the past four years. Now it is embedded in our system as the only allowable alternative to print the United States out of its deb trap and fulfill the obligations of our Treasury Department with slightly to almost totally degraded Federal Reserve Notes until the world abandons the US dollar as its reserve currency.
By then however, it will be too late. And those responsible for the long term stagflation, unemployment, and debt defaults will have taken that big jet airliner off to their bunker on some Pacific island.
Visits: 0
