Eggs, milk and groceries cost 16% higher than they did in 2021

[Anonymous]

https://www.theguardian.com/us-news/2023/nov/23/john-rust-rose-acre-farms-egg-price-fixing-senate

Republican Senate candidate’s family egg company caught in price-fixing plot
Several food giants claimed that Rose Acre Farms – which John Rust chaired until recently – unlawfully fixed the prices of eggs.

Rose Acre Farms, which claims to be the second-largest egg producer in the country and until September was chaired by John Rust – now running as a Senate candidate for Indiana – was accused in a civil suit of cutting supply to raise prices.

[Anonymous]

https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/

Corporate profits have contributed disproportionately to inflation. How should policymakers respond?
The inflation spike of 2021 and 2022 has presented real policy challenges. In order to better understand this policy debate, it is imperative to look at prices and how they are being affected.

The price of just about everything in the U.S. economy can be broken down into the three main components of cost. These include labor costs, nonlabor inputs, and the “mark-up” of profits over the first two components. Good data on these separate cost components exist for the nonfinancial corporate (NFC) sector—those companies that produce goods and services—of the economy, which makes up roughly 75% of the entire private sector.

Since the trough of the COVID-19 recession in the second quarter of 2020, overall prices in the NFC sector have risen at an annualized rate of 6.1%—a pronounced acceleration over the 1.8% price growth that characterized the pre-pandemic business cycle of 2007–2019. Strikingly, over half of this increase (53.9%) can be attributed to fatter profit margins, with labor costs contributing less than 8% of this increase. This is not normal. From 1979 to 2019, profits only contributed about 11% to price growth and labor costs over 60%, as shown in Figure A below. Nonlabor inputs—a decent indicator for supply-chain snarls—are also driving up prices more than usual in the current economic recovery.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I paid $1.19 for a dozen eggs and $1.15 for a gallon of milk at the grocery store this afternoon. Grocery prices have never been lower any time in my life, and I’m 37 years old! I credit President Biden 100% for this! Thanks Joe!!!

Where? I want to shop there.

DP. Try Lidl when you want cheap dairy. I just checked online and the Fairfax store has a dozen eggs for less than $2 and a gallon of milk for $2.10. It's even cheaper outside the DMV. Thats pretty darn cheap.

[Anonymous]

Big Mack January 2023 in Maryland $4.75

January 2024,$5.19

9 percent inflation in 2023. Sounds correct

More accurate than manipulated CPI.

[Anonymous]

Anonymous wrote:https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/

Corporate profits have contributed disproportionately to inflation. How should policymakers respond?
The inflation spike of 2021 and 2022 has presented real policy challenges. In order to better understand this policy debate, it is imperative to look at prices and how they are being affected.

The price of just about everything in the U.S. economy can be broken down into the three main components of cost. These include labor costs, nonlabor inputs, and the “mark-up” of profits over the first two components. Good data on these separate cost components exist for the nonfinancial corporate (NFC) sector—those companies that produce goods and services—of the economy, which makes up roughly 75% of the entire private sector.

Since the trough of the COVID-19 recession in the second quarter of 2020, overall prices in the NFC sector have risen at an annualized rate of 6.1%—a pronounced acceleration over the 1.8% price growth that characterized the pre-pandemic business cycle of 2007–2019. Strikingly, over half of this increase (53.9%) can be attributed to fatter profit margins, with labor costs contributing less than 8% of this increase. This is not normal. From 1979 to 2019, profits only contributed about 11% to price growth and labor costs over 60%, as shown in Figure A below. Nonlabor inputs—a decent indicator for supply-chain snarls—are also driving up prices more than usual in the current economic recovery.

Large corporations are raking in profits and saying "it's inflation."

[Anonymous]

Anonymous wrote:Big Mack January 2023 in Maryland $4.75

January 2024,$5.19

9 percent inflation in 2023. Sounds correct

More accurate than manipulated CPI.

Then don't buy a big mac and eventually, McD's will reduce the cost. In the meantime...

This isn't inflation, it is big business ripping you off.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Prices rise as SNAP benefits increase. Government spending is fueling the inflation.

So you’re blaming poor people now for high food prices? Spoken like a true a Republican.

No, they're blaming fast food. Stop blaming restaurants! Vinegar is $10 now. ten. dollars.

[Anonymous]

again, that is big business using "inflation" to score record profits.

That....isn't inflation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Prices rise as SNAP benefits increase. Government spending is fueling the inflation.

So you’re blaming poor people now for high food prices? Spoken like a true a Republican.

No, they're blaming fast food. Stop blaming restaurants! Vinegar is $10 now. ten. dollars.

This is what we get for electing people as unfit as Trump and Biden to serve in such a powerful position. You earned this America. Way to go!

[Anonymous]

Since Biden's election, there have been many changes to the minimum wage based on Living Wage initiatives. in 2022 and 2023, many of those initiatives finally took effect based on the delay of passing to implementation.

As those wages go up, manufacturers are raising their prices to adjust. As manufacturers raise the prices, then the companies that by the component goods have to raise their prices. Additionally all product pricing is affected by the increase in shipping costs because drivers are now paid premiums. During the pandemic, many companies had to implement additional sanitation and cleaning costs into production, factories, for delivery workers and so on and they added those costs to their prices.

Those of voted for living wage ballot initiatives and voted for elected officials who championed living wage initiatives said they didn't mind paying higher prices. Now the higher prices have come around and people are complaining about the prices. You can't have it both ways. Living wages come with a price that affects commodities and manufacturer products including food and groceries.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Big Mack January 2023 in Maryland $4.75

January 2024,$5.19

9 percent inflation in 2023. Sounds correct

More accurate than manipulated CPI.

Then don't buy a big mac and eventually, McD's will reduce the cost. In the meantime...

This isn't inflation, it is big business ripping you off.

This. I just don't buy fast food any more. If enough of us did this, they would stop ripping us off.

[Anonymous]

Anonymous wrote:Since Biden's election, there have been many changes to the minimum wage based on Living Wage initiatives. in 2022 and 2023, many of those initiatives finally took effect based on the delay of passing to implementation.

As those wages go up, manufacturers are raising their prices to adjust. As manufacturers raise the prices, then the companies that by the component goods have to raise their prices. Additionally all product pricing is affected by the increase in shipping costs because drivers are now paid premiums. During the pandemic, many companies had to implement additional sanitation and cleaning costs into production, factories, for delivery workers and so on and they added those costs to their prices.

Those of voted for living wage ballot initiatives and voted for elected officials who championed living wage initiatives said they didn't mind paying higher prices. Now the higher prices have come around and people are complaining about the prices. You can't have it both ways. Living wages come with a price that affects commodities and manufacturer products including food and groceries.

Nope. Read the quoted article above:

Strikingly, over half of this increase (53.9%) can be attributed to fatter profit margins, with labor costs contributing less than 8% of this increase. This is not normal. From 1979 to 2019, profits only contributed about 11% to price growth and labor costs over 60%, as shown in Figure A below. Nonlabor inputs—a decent indicator for supply-chain snarls—are also driving up prices more than usual in the current economic recovery.

[Anonymous]

And, here's the article, if you don't believe me: https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/

Large corporations are hiding behind "inflation" and employee labor costs in order to justify taking enormous profits.

[Anonymous]

I don't know where in the Matrix Morpheus buys his McDonalds, but a meal is not $15-20 here in Northern Virginia. A quarter pounder with cheese meal is $8.69. A McCrispy meal is $7.49.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Big Mack January 2023 in Maryland $4.75

January 2024,$5.19

9 percent inflation in 2023. Sounds correct

More accurate than manipulated CPI.

Then don't buy a big mac and eventually, McD's will reduce the cost. In the meantime...

This isn't inflation, it is big business ripping you off.

+1
Stop paying for it and the prices will come down.