Article

2022-01-14 Economy

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2022-01-14 00:00|| || Front Page|| [11126 views ] Top

#1 Repost from last night sorry but David P. "Spengler" Goldman is on the case -- this means the real inflation rate i.e. that includes the cost of shelter is more like 11-12%.

Reason: they're not accounting for the rise in the cost of shelter (rent, mainly). Try 12% total inflation rate. Economist Goldman ("Spengler"):

Worst Inflation Since '82 is Huge Underestimate

This time, the CPI rent inflation rate of 4.2% undershot the private rental data. As old leases expire and new leases are written, the CPI index for shelter should rise by 14 percentage points. Shelter makes up 32.3% of the CPI, so 14 percentage points in the cost of shelter would add another 4.5 percentage points to the headline inflation number.

Posted by Merrick Ferret 2022-01-14 00:28|| 2022-01-14 00:28|| Front Page Top

#2 The Shelter component of the CPI is based partly on rents and partly on the 'equivalent rent of a primary residence'. The latter is determined by a structured interview of homeowners where they guess at what they would get in rent if it was rented out. This is obviously a subjective method but this second component has, over the years, lagged the rent prices by many months. So, yes, there is a lot of increase baked into the 2022 shelter index but probably not as much as inflaton hawks estimate.

Posted by Lord Garth 2022-01-14 11:52|| 2022-01-14 11:52|| Front Page Top

#3 btw, Oil is up well above $80/barrel again.

Posted by Lord Garth 2022-01-14 11:58|| 2022-01-14 11:58|| Front Page Top

#4 Bought a package of hot links yesterday and went into sticker shock

Posted by magpie 2022-01-14 13:20|| 2022-01-14 13:20|| Front Page Top

#5 Price increases and amazing portion reductions, look at the next DiGiorno; frozen pizza or the size of a Snickers Bar. In the ultimate insult, Guiness Dark Draft Pints are now 15oz!!!!!

Posted by NoMoreBS 2022-01-14 14:22|| 2022-01-14 14:22|| Front Page Top

#6 Kamala complaining about cost of Docusate SOD.

Posted by crazyhorse 2022-01-14 15:18|| 2022-01-14 15:18|| Front Page Top

#7 Popcorn!

Disney World fans are waiting over 6 hours in line to buy a $25 popcorn bucket, with some begging those in front to buy them one for $100

Posted by Merrick Ferret 2022-01-14 15:32|| 2022-01-14 15:32|| Front Page Top

#8 Biden going for Jimmy Carter's record?

Posted by JohnQC 2022-01-14 18:17|| 2022-01-14 18:17|| Front Page Top

#9 Saw something about a Big Pizza Chain decreasing number of wings in an order from 10 to 8.

I would go with 6, as it can be split 1, 2, 3, or 6 different ways!

Funflation!

Posted by swksvolFF 2022-01-14 18:38|| 2022-01-14 18:38|| Front Page Top

23:59 Percy Snomoper7500
23:56 Percy Snomoper7500
23:40 CrazyFool
23:37 Woodrow
22:35 Percy Snomoper7500
21:12 Frank G
21:01 Merrick Ferret
20:57 Merrick Ferret
20:55 borgboy
20:54 Merrick Ferret
20:51 Merrick Ferret
20:46 trailing wife
20:37 trailing wife
20:30 NN2N1
20:28 Procopius2k
20:22 Procopius2k
19:37 Tyranysaurus Jones4656
19:29 swksvolFF
19:28 Tyranysaurus Jones4656
19:08 Bubba Lover of the Faeries8843
19:07 Blackbeard Barnsmell6454
18:56 swksvolFF
18:55 Hupolulet Barnsmell6917
18:42 ruprecht