Reply to Inflation and price of goods - will prices go back down?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][b]If only wages were inflating as well! [/b]

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Wages are inflating at the fastest rate in decades.  https://www.atlantafed.org/chcs/wage-growth-tracker.  Do we get to applaud Biden or Trump for that?  :roll:

People emotionally react to the prices at the grocery store because they are the most visible indicator of inflation in their lives.  I know that I saw a 12-pack of Coke at Safeway for $10.49 yesterday!  However, if people here on DCUM actually sat down and figured out what they spent on everything on a year-over-year basis, they'd find out that the inflation rate is high, but not as high as they thought.  The biggest chunk of spending is your housing situation, and most people here on DCUM are clearly homeowners with a fixed mortgage.  When your main expense has a tiny inflationary increase due to the TI of PITI, that really mutes the overall personal inflation rate.

That said, I do feel for the renters out there.[/quote]

Bullshit.  First, the "T" in PITI has jumped - and will jump - by a huge amount for a lot of people.  And second, all other costs of home ownership are way up - utilities are way up; repairs and renovation costs are through the roof.  Locking in a low mortgage helps, but everything else is way up.[/quote]

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