How about that inflation

Worldly and otherworldly topics
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Madrigal
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How about that inflation

Post by Madrigal » Thu May 05, 2022 12:24 am

Anybody else see it? What in the fuck is up with the meat inflation, though? Things that have no business inflating are inflating.

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Senseye
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Location: Canada

Re: How about that inflation

Post by Senseye » Thu May 05, 2022 2:56 am

I definitely notice it when grocery shopping.

It seems to work something like this:

1) Actual inflation rises the cost of inputs 5%-10%
2) Manufacturers pass on the added input costs and tack on another 5%-10% since they have been wanting to raise prices anyways and they can blame the increase on inflation
3) Retailers pass on the input costs and manufacturer price gouging (so we are up to 10-20%) and figure why not join the party? They like profiteering too! So they tack on another 10% for themselves.
4) Blame it all on inflation and the government and world affairs, etc. Woe, retailers cry, inflation sure is tough on consumers. Most rubes won't notice most of the price increases have nothing to do with input cost inflation.

In my neck of the woods, Loblaws, the largest grocery retailer in Canada (they own multiple grocery store brands) just announced a 1st quarter profit increase of 40%. I expect to see similar bumps in the big food conglomerate earnings reports, so I may be low balling the profiteering markup.

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Madrigal
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Re: How about that inflation

Post by Madrigal » Sat May 07, 2022 2:34 pm

Senseye wrote:
Thu May 05, 2022 2:56 am
In my neck of the woods, Loblaws, the largest grocery retailer in Canada (they own multiple grocery store brands) just announced a 1st quarter profit increase of 40%. I expect to see similar bumps in the big food conglomerate earnings reports, so I may be low balling the profiteering markup.
I saw meat jump about 60% from one week to the next. It was imported meat from Brazil (I'm still in Chile and I don't always find Argentine meat at the grocery store). I always used to buy a large strip of filet mignon and when it jumped, I thought it was just that, but I recently checked the price of a rump cut I often buy for beef teriyaki and it had an even higher price increase.

Coffee, which I don't believe has anything to do with Ukraine, has gone way up as well. Since I don't buy most groceries on the basis of price, I don't really know how many things have gone up like that, I suspect many.

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Roger Mexico
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Re: How about that inflation

Post by Roger Mexico » Sun May 08, 2022 6:16 am

According to the news we're in a general "inflation crisis" in the US, with CPI rates around 8%.

Depending on your politics, you're blaming either sanctions on Russia, "supply chain problems" from Covid, a highway funding bill that Biden's been trying to pass, evil corporations "price gouging" just because they can, or some combination of these.

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puerile_polyp
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Re: How about that inflation

Post by puerile_polyp » Mon May 09, 2022 11:03 pm

maybe it has something to do with this:
Image
I thought I heard somewhere that printing a lot of money can cause inflation.

Julius_Van_Der_Beak

Re: How about that inflation

Post by Julius_Van_Der_Beak » Tue May 10, 2022 2:21 am

I have no idea why meat is getting inflated. Perhaps it has something to do with friction during transport.

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jyng1
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Re: How about that inflation

Post by jyng1 » Tue May 10, 2022 9:54 am

Julius_Van_Der_Beak wrote:
Tue May 10, 2022 2:21 am
I have no idea why meat is getting inflated. Perhaps it has something to do with friction during transport.
Increase in cost of fuel which leads to increase in cost of producing feed, plus cost of transport etc etc. I think the cost of a container rose from ~$2,700 to $21,000 (if you can find one). A lot of our beef and lamb production was flown out fresh and is now being shipped frozen due to lack of air transport...

Fruit has seen a serious shortage of labour with the lack of immigration... I've heard of truck drivers working for pack houses getting $90,000. We've had shortages of large farm machinery drivers as they do the international circuits and travel has been slashed... weather hit our fresh vegetables and grain so we were a bit short of both for a while.

Filling up the combine harvester has skyrocketed...

Although I got given a shit load of venison steaks for free the other day so not all meat is exorbitant ;)

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puerile_polyp
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Re: How about that inflation

Post by puerile_polyp » Thu May 12, 2022 2:09 am

No time to worry about the economy, we're about to hash out the abortion issue for the millionth time.

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jyng1
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Re: How about that inflation

Post by jyng1 » Thu May 12, 2022 6:07 am

puerile_polyp wrote:
Thu May 12, 2022 2:09 am
No time to worry about the economy, we're about to hash out the abortion issue for the millionth time.
Which, coincidentally is bad for the economy...


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MoneyJungle
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Re: How about that inflation

Post by MoneyJungle » Wed May 25, 2022 1:33 am

Goodwill paperbacks went from two to three dollars overnight. I actually would have to read them at that price. No deal.

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