Off-Topic: The Two “Gs” Of Inflation
By Adam Pick on June 18, 2008
I know I typically write about all things related to heart valve replacement and heart valve repair.
However, I can’t get over what’s happening to my wallet… It’s shrinking right before my very eyes.
There’s obviously no need for me to rant-and-rave about the first G of inflation… GAS! We hear about it. We read about it. It’s all over the news. And, every time we fill up our cars, SUVs and trucks, that little voice in the back of our brain screams aloud, “OH MY GAWD!”, as the price goes up-and-up-and up. In fact, with gas prices up 20% since last June, my local gas station cuts me off when I reach $75 at the pump. A trip to Costco doesn’t make it any easier. Lines for cheaper gas are always nine-to-ten cars deep.
As for the second “G of Inflation” it is, without a doubt, GROCERIES! Two weeks ago, Robyn (my wife) and I went to our local Vons supermarket here in Redondo Beach, California. Our weekly grocery bill has hovered around $107 for the past six months. We were quite surprised when the digital display bleeped “TOTAL = $160.23”.
I did a “Huh?”, then a “No Way!” and finally another “OH MY GAWD!!!”
I was just reading the latest edition of Money Magazine. There is an interesting article titled “Surviving Inflation” that you may want to review. Here are some interesting facts about surging food prices during the last year:
- Ice cream is up 6%
- Hot dogs are up 7%
- Hot dog buns are up 15%
- Ham is up 7%
- Eggs are up 30%
- Milk is up 14%
- Beer is up less than 4%
The worst thing about that list… Robyn has eggs everyday for breakfast and I make egg salad every Sunday. We both like protein snacks. Unfortunately, we use 36 eggs each week. Rats!
As a result of inflation, I’ve become an avid fan of coupons. I’m not alone. My buddy, Rob, and I often compare coupon usage throughout the week. Last week, I saved $27 during our return trip to the supermarket. Rob saved a bunch-of-money on baby formula for Sammy, his new baby boy.
Still, the Bureau of Labor Statistics suggests that the recent 3.9% increase in the consumer price index (CPI) is nothing to be concerned about. As the report suggests, “It’s high but not panic-inducing.”
I don’t know about that… I’m hearing many “panic-like” conversations among my friends and family. What about you?
Keep on tickin!