Is INFLATION Too High Where You Live?

[williamtcooper]

Is inflation still too high where you live?

What items have gotten too expensive?

One person in California told me it cost them $10 for a dozen eggs?

What is it like in your part of the world?

[williamtcooper]

Mary,

I have been to a chicken farm in Mississippi before; I went to college at Ole Miss and had some friends who's families were in the business. I remember walking in 6 half mile long chicken barns because I wanted the feel of the daily life of the people. What an experience!

[mwiggenhorn]

William - now picture one of those birds getting sick and having to put down the whole bunch.  Terrible stuff.  And Old Miss - cool or boring?

[williamtcooper]

Mary,

I can't imagine having to clean those chickens barns especially if they all had to be removed at once - scary!

Ole Miss was very good for it's academics, but not as interesting for me because I am more conservative and it's a Greek system University. I worked while I picked up degrees in economics and computer science so I was too busy anyway and got out of school on schedule.

Have you visited the University campus anytime recently?

[mwiggenhorn]

No. Years ago, my daughter had a boyfriend there - he wasn't Greek and spent a lot of time in Tunica at the casino.  (Now he's a stockbroker LOL) and she said it was pretty boring.

[williamtcooper]

Yes, as a student there is a very limited social life without being part of the Greek system. Too much goofing off for my taste, however not much of a student social life without it.

Have you ever visited one of those chicken farms in Mississippi?

[williamtcooper]

I guess the inflation problem thoughout the world has been solved since this post slowed down.🙂

[virtualbrix]

Its not really leveling off here, looks like this is the "new norm"

[williamtcooper]

Samer,

Is it mostly food inflation or is it still housing and cars inflation also? In Texas, it's mostly food inflation in 2023, but it's bad.

[virtualbrix]

Housing, Food, everything. We are becoming a country of renters, just a matter of time : )

[williamtcooper]

Housing in the Houston area seems to be down maybe 5% from the June 2022 peak. I see very few homes in my neighborhood for sale which is a big oil and gas area. Probably some of the big oil companies have slowed down on moving their employee around from the typical every 3 to 5 years.

[virtualbrix]

Prices here are still very high!

[williamtcooper]

The Fed raised short term rates to 4.5 to 4.75% yesterday. They have almost completed their rate hikes. My guess is that inflation will continue to drop very rapidly this year, however disinflation the dropping of prices, will only occur in some areas of the economy.

[6bfcdaf8]

Unfortunately it's bad everywhere. The more important question is why is inflation happening? 

[williamtcooper]

Demand is greater than supply as well as too much money was printed around the world. It's a mess.

[virtualbrix]

That is correct, the demand here for homes in my area is super high but the supply is low.

[williamtcooper]

Samer,

Are you in the suburbs and there is short supply or is there lack of supply in the big cities also?

[bobafett999]

In US alone it was like 5 or 6 trillion $

[williamtcooper]

Yes, printing money out of the thin air in the USA is out of control. In addition to Congress creating more debt, the Federal Reserve started adding trillions since the 2008 financial crisis. It's a mess.

[7c40879b]

There is a war going on in my country. It will be one year this month. Missiles from Russia are flying at my city on peaceful neighborhoods and infrastructure. Destroying cities and villages.

As for the economy at the end of '22, it was down 30.4%.
Eggs before the war cost 10 - $0.67, now $1.88.

It seemed to me that human development had reached the level of solving all problems diplomatically. But the dictator of a neighboring country doesn't think so. And it turns out that if you have nuclear weapons and lots of oil and gas, you can wage wars and kill people for nothing.

[williamtcooper]

Serhii,

With all the destruction, how do people even locate food in the large cities regardless of price?

[7c40879b]

They try to find work for any money. Closer to the front comes humanitarian aid from many countries.

[williamtcooper]

Is it difficult for the humanitarian aid to get through the zones?

[7c40879b]

They don't go through the zones. They are delivered to where civilians live in the cities. Up to the line of contact of the armies.

[williamtcooper]

Does most of the aid get through the army to the civilians?

[7c40879b]

The army does not distribute humanitarian aid. This is handled by the local authorities.
Yes, they do.

[williamtcooper]

I think it is very hard for most people here to imagine the pain and suffering. I have visited many countries in the world and I get it and our prayers and support are with you.

[7c40879b]

Can you tell me what your people's sentiments are towards Ukraine privately? Maybe you have some questions. I would like to know your point of view.
Thank you.

[williamtcooper]

I can give some general comments that would apply to the majority in the USA. The people of the USA love both countries, however they don't approve of another country invading another. Most people here are peaceful, however don't like nonsense and will stand up.

[elvins-susan]

Well, we've always had issues with the gas prices in our area because our vahicle needs the premium instead of regular. That particular blend tends to not change in price with the different numbers and normally sits at two prices. The benefit we've been using is visiting one or 2 places so there can be a usage of the savings card for a lower price.

As for the eggs, the dozen prices were pretty high but they are finally starting to drop. Something we're beginning to do is have a conversation with a good friend that has chickens as he can provide us eggs. Some of the vegetables are doing this very odd price bounce from down to up and the look of them haven't always been the greatest. There are other vegetables that have a price tag not worth paying as they just don't match the amount desired.

[williamtcooper]

Susan,

Sounds like you live outside of a big city and have some flexablity with saving money with buying closer to the source?

[0ff5e58c]

I am from Pakistan, and yes, the inflation rate in our country is very high. It is becoming very difficult to manage day to day expenses, as everything is becoming more and more expensive. Just yesterday, the petrol prices rose from 250PKR to 275PKR. Unfortunately, the rich are getting richer, and the poor are getting poorer in our country.

To answer your question, the items that have gotten too expensive include food, utilities, and transportation. The cost of eggs has also increased drastically, with a dozen eggs now costing around 300PKR, compared to 120PKR just a couple of years ago.

The average salary in our country is not very high, and it is becoming increasingly difficult to make ends meet. It is understandable that you would want to migrate to another country for better opportunities.

[williamtcooper]

Nazir,

In USA dollars how much are the dozen eggs?

[0ff5e58c]

1.13 USD per dozen eggs.

[williamtcooper]

That is very expensive considering it's around $2 per dozen eggs in the USA and most things here are more costly compared to other countries.