How Much Inflation Is There?

  • Something that concerns all of us is inflation. How much will we have to pay for a pound of ground beef or a gallon of gas. So I thought that these two articles would be of interest. 

     

    The first article quotes the inflation stats released by the Labor Department.

     

    "The Labor Department said on Wednesday its Consumer Price Index rose 0.3 percent last month after gaining 0.2 percent in November. In the 12 months through October, the CPI increased 2.1 percent, the biggest year-on-year gain since June 2014."

     

    I admit to being skeptical. Especially considering my recent trips to the grocery store. So I checked on grocery price inflation and found a report from U.S. Economic Research Service.

     

    "In 2016, ERS predicts food-at-home (supermarket) prices to decrease between 1.5 and 0.5 percent." They cite "recent declines in prices for beef and veal, poultry, and eggs. Lower transportation costs due to deflated oil prices as well as the strength of the U.S. dollar have placed additional downward pressure on food prices in the first half of 2016. "

     

    I'm still skeptical, but the real proof is what you have to pay at checkout. No matter how you feel about the stats, the most important thing is to keep your expenses in line with your income. A new article on buying at a farmers market could be helpful no matter what happens with inflation in 2017.


    Keep on Stretching those Dollars!
    Gary


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