Do you feel the inflation heat?

[Henrywrites]

The global inflation rate is messing up a lot of economies. Companies find it difficult to pay people and all of that. Are you worried about the impact of inflation on your personal finance? Are you doing anything to adjust to the challenges?

 

[NeoMetallix]

Would be simple to fix! Governments could spend within their means(no deficit spending) and use money, not fiat currency.

That said, we are just trying to cut unnecessary stuff like eating out(not completely). We've done cash envelopes so when we run out of allotted cash, we just don't spend more

 

[Dee]

Yes, I'm feeling the impacts of inflation. Mostly at the grocery store. Some items are just loads more money and I'm often spending $20-40 more than I used to. I remember when my groceries would last 2 weeks before I'd have to go back. Now, I'm going to the grocery store every week and it runs around $400 a month. For me, that's pretty outrageous.

 

[passenger]

"Do you feel the inflation heat?"​

Of course. I do the grocery shopping.

 

[MrDawn]

Yeah. It's been pretty irritating to watch store prices climb.

 

[NeoMetallix]

I found a good inflation calculator that has an option for real inflation from shadowstats which is by far better than fake government CPI data.

$1 in 1997 is equivalent to $10.01 in 2022 which sounds pretty true. CPI says it's the equivalent to $1.87 but I could buy a lot at fast food in 1997 for a dollar, can't get anything for $1.87 today.

Tom's Inflation Calculator

 

[passenger]

I found a good inflation calculator that has an option for real inflation from shadowstats which is by far better than fake government CPI data.

$1 in 1997 is equivalent to $10.01 in 2022 which sounds pretty true. CPI says it's the equivalent to $1.87 but I could buy a lot at fast food in 1997 for a dollar, can't get anything for $1.87 today.

Tom's Inflation Calculator

Cool. (Well, maybe ... who wants to even think about it?)
Thank you for the link!

 

[DrLeftover]

Updated Jan 11, 2024 -Economy

Consumer prices rose more than expected in December, new inflation data shows​

https://www.axios.com/2024/01/10/inflation-cpi-december

 

[Coo]

Definitely feeling the economic situation the world is in right now. I've increased the automatic payments into my investments to counter the increased spending on normal every day shite. I'm actually worried for the first time in my life about if there will be enough savings for retirement. We've had to push our retirement further into the future however I'm hoping I can counter it with my new investments. And I definitely don't see Canada a viable retirement country with the current healthcare and taxes. In a country that has everything it is being run poorly and those of us in the middle class holding up the welfare and socialism agenda are being pushed closer and closer into the poor classes. To work so hard and have a country bleed you dry at every turn isn't right. The elites got richer and everyone else got poorer. It's a new kind of monarchy.

 

[Nebulous's iconNebulous]

I notice prices are higher but I still can manage to buy everything I need and pay my bills so not really suffering from it to be honest. Of course I do wish everything was cheaper though! Lol

 

[MrDawn]

Of course I do wish everything was cheaper though! Lol

I doubt that'll happen. Seems once they set the price like that, it stays that way forever until they raise it again with the next round of inflation in the coming years.

 

[FerryFox]

Yes, I felt the inflation last year too, although I believe that there are people who suffered much more (I mean ordinary people, not multimillionaires)