How Are We Coping With Inflation Nowadays?

[plat]

Hey, everyone. Read an article recently that stated 95% of Americans (wow!) have made adjustments to cope with skyrocketing prices. I can only imagine it's similar or the same (worse?!) around the world. How are you handling it? Or are you managing well otherwise without adjusting your budget?

I'll start. I take public transportation whenever needed. Food! OK, cut out a lot of red meat and chicken which have also gone insanely high. BUT...when I do get it it's free-range, antibiotic-free, and for beef: sirloin so it doesn't melt away in the pan. One small 9 dollar package lasts almost two months of once-a-week beef servings. Organics! Kale, strawberries, spinach, etc. A little pricier but buying that in bulk--it's healthier and I use my freezer. No sodas or carbonated water any more. It's filtered tap water infused with lemon and frozen strawberries. Electricity: shut it all off every time I leave. No fans, nothing. Not any more. Gas and utility prices are thru the roof around here.

OK, now you. It's getting crazy, right?

Inflation is changing the grocery shopping habits of 95% of Americans as they turn toward discount stores, cheaper private labels, and frozen foods

Shoppers are cutting back on non-essential items like more expensive cuts of meat, while seeking cheaper options for essential goods.

www.businessinsider.com

 

[Digmor Crusher]

Its getting bad. Personally I haven't changed anything yet, but I'm in a good position, house paid off and only debt is a $400/month car payment for another 11 months. There's a lot of people going to be in a bad shape because of this and I feel for them as many have very few, if any, options.

 

[Vitali Ortzi]

i mostly reduced meat intake and the meat I consume is mostly chicken nowadays and I don’t go to restaurants or use taxis anymore
Rather make my own meals / use public transportation oh and I buy vegetables only on season and fruits that are expensive I just rarely and some don’t buy at all
I just hope it will get better as I’m unwilling to go extra miles to save from the point I’m at
its too frustrating

i mostly reduced meat intake and the meat I consume is mostly chicken nowadays and I don’t go to restaurants or use taxis anymore
Rather make my own meals / use public transportation oh and I buy vegetables only on season and fruits that are expensive I just rarely and some don’t buy at all
I just hope it will get better as I’m unwilling to go extra miles to save from the point I’m at
its too frustrating

Obviously I stopped paying for subscription services and came back to pirating but I don’t advise that from a security / legal perspective

 

[Digmor Crusher]

i mostly reduced meat intake and the meat I consume is mostly chicken nowadays and I don’t go to restaurants or use taxis anymore
Rather make my own meals / use public transportation oh and I buy vegetables only on season and fruits that are expensive I just rarely and some don’t buy at all
I just hope it will get better as I’m unwilling to go extra miles to save from the point I’m at
its too frustrating

Yah, I never understood society's need for excessive restaurant usage or online food orders. Save some money and cook your own meals, I maybe go to a restaurant 10 days a year and its only during travel.

 

[upnorth]

Some technology vendors have hiked prices by up to 30 percent over the last year and claimed the rises are due to inflation, despite inflation running at a far, far lower rate.

Vendors claim inflation justifies 30 percent price rises

No it's not, says Gartner – it's a hardcore sales tactic you can easily counter

www.theregister.com

 

[Digmor Crusher]

Yes, it's gotten bad across the board. We're in a recession. I had to pay 50 dollars to fill up my small 10 gallon tank. And I don't live in California or New York, where it's much worse. I cut back my spending. Just what I need and nothing more. Except for beer and wine.

P.S, Thank you so much Biden. You are doing a wonderful job.

Biden has nothing to do with it, virtually every country in the world is experiencing high inflation including high gas prices, is Biden responsible for that too?

 

[Viking]

I filled my car up from near empty to a full tank of petrol a while back, it ended costing me $100.
Not going to fill up to the brim again anytime soon. (70 Litre tank)

 

[Andrew999]

I filled my car up from near empty to a full tank of petrol a while back, it ended costing me $100.
Not going to fill up to the brim again anytime soon. (70 Litre tank)

In New Zealand it costs me about $150 to fill up if I get it quite low. I have a 55 litre tank. If it was dead empty it would be $174.9. It costs $3.18 a litre where I live in most places. Some places even more.

 

[Viking]

I heard that its as high as $3.70 per litre in some parts of NZ.

Here in Australia, its about $2.30 - $2.40 per litre at the moment for 91 (standard fuel).

 

[Gandalf_The_Grey]

Even in the biggest economies, politicians are scrambling to find ways to offset the costs of inflation for households hit by the skyrocketing cost of living.

The UK government recently announced a £15bn aid package, funded by a windfall tax on oil and gas firms, to help with rising energy bills.

Some countries in Europe, such as Spain and Portugal, have instituted price caps on gas - the kind of response that economists generally advise against, since caps tend to keep demand high by subsidising consumption.

In the US, Mr Biden has released unprecedented amounts of oil from national stockpiles to try to lower petrol prices - outside of the grocery store, the most immediate point of pain.

But as the war in Ukraine pushes supply issues to the fore, the power of politicians - and central banks - is limited, analysts said.

"In the long run, they can do a lot of things in terms of investing in different energy transition policies and things of that nature," says Mr Jorda. "But in the short run there's really not much that can be done."

Why is inflation in the US so high?

A surge in government spending drove US inflation to the highest of advanced economies last year.

www.bbc.com