Price Increases and Inflation

[dado potato]

I would like to start a thread to take note of price increases in the items we consume.

Theoretically the quantities of items sold (eg toilet rolls) have increased significantly since, say 3/1/2020, as American consumers began to stock up or "hoard" in anticipation of being locked down. Sellers find that their total sales revenue increases when they raise prices.

In my household somebody needs an over-the-counter medication, famotidine. For a week or two we found that famotidine was not in stock in any of the local stores. On March 16 I ordered on Amazon a package containing 250 tablets of 20mg. They arrived today, April 6, after a delay that AMZN warned me about. (Fortunately I had ordered "well before" our supplies in the house were exhausted.) The price I paid 3/16/2020 was $24.99 plus $.37 sales tax for a total $25.36 (with free shipping). Cost per pill was about 10 cents.

As of today the identical product is available at AMZN for the price of $39.90 plus $2.19 sales tax, for a total $41.19 ... price per pill about 16 cents. Price increase = 60%

[razz]

CBC did a price check on the usual items purchased and an independent researcher did not any significant increase in the average family's expenses so far. Whether the items are readily available at all times may vary but so far, I am not noticing any major price increase.

[Yppej]

I refuse to be price gouged. I substitute or do without if an item is significantly more than the store charged for it previously.

[JaneV2.0]

I've noticed price increases in items I frequently order--significant ones.

[SteveinMN]

The only notable price increase I've seen lately is in the price of a dozen plain ol' white factory eggs at the local grocery store; went from whatever they were charging to more than $3 a dozen. At that price I can buy organic free-range eggs at the co-op from a producer not far from here whom I've actually met. Or eggs, similar to the co-op eggs, from some farm several states away, for the same price. In fairness, I have seen reports that egg prices have pretty much tripled at the wholesale level, so that may explain the local grocer's price. I also have not been to our co-op or Aldi since the lockdown appeared imminent, so their prices may have gone up, as well.

On the other hand, gasoline is down below a buck a gallon at some places here seeking to get their name on the nightly local news and even diesel is under $2 a gallon much earlier than usual this year.

[dado potato]

AAA gasoline price survey says the average price in WI is $1.436 today, compared to $2.743 a year ago. The cheaper gasoline, combined with relatively uncrowded Interstate highways, has given rise to more speeding citations in excess of 100 mph.

[Alan]

On the other hand, gasoline is down below a buck a gallon at some places here seeking to get their name on the nightly local news and even diesel is under $2 a gallon much earlier than usual this year.

The lowest prices I've seen locally is $1.46 for regular gas and $2.15 for the diesel my pickup likes. I have just over 1000 fuel points at Kroger which means I can get $1.00 per gallon off a fill-up at either pump but they expire at the end of the month and with nowhere to go, both my wife's car and my truck have been at just over 3/4 tank for the past several weeks.

[Gardnr]

I've noted zero price increases. Gas? $2.39 to fill my tank with premium last week Thursday. That's a great price in the NW.

[Yppej]

I just got a $7 off oil change coupon. Usually that company sends out $4 off coupons. Bargains may be available at other service companies that are still open.

[Sonora Shepherd]

I suspect price gouging on e-books. I wish I had kept track lately because it seems like e-books like Bookbub through Amazon are anywhere from $1 to $3 higher than normal. I just don't have any facts to back it up.