Price Increases and Inflation

[Eric]

Local news announced that there is a 60% increase in ticket prices for admission to the pro football team. And the average price is now $330 per game. I suppose the expensive box seats might pull the average price up. There must be another element of society that will pay that much for what the entertainment is, but not in my small frugal social circle, even if they like football.

The most lucrative professional sports (especially pro football) seem like worst-case examples of hyper-capitalism, squeezing nearly every drop from the masses and giving nearly all of the profits to the few near the apex of a massive pyramid scheme, while concealing and perpetuating the system through an all-encompassing whitewashing campaign. Just doesn't seem to be a sign of a health society or economy.

[dado potato]

CPI has been reported by the US Bureau of Labor Statistics for August. The "All Items" year over year increase was 8.3% (a little better than 9.1%, the recent worst). The "Core" (omitting gasoline and food) increased 6.3%.

Pundits were thinking inflation was moderating, perhaps exaggerating the impact of declining gasoline prices. So the pundits got a "reality check".
On a year-over-year comparison,
Food UP 11.4%
Food at home UP 13.5%
Shelter UP 6.2%
Medical Care Services UP 5.6%
Apparel UP 5.1%

Forbes Magazine conducted a survey of US companies, and they reported a budgeted average annual salary increase of 3.4%... still less than half the rate of inflation. Early in November Social Security COLA will be announced, expected to be in excess of 8%. (Pension Envy could get worse!)

[frugal-one]

Thought this an interesting piece:

https://www.nbcnews.com/business/bus...rits-rcna16156

Earlier this year...“Over the past six months, price increases in the United States and Europe have basically run neck and neck,” White House press secretary Jen Psaki said last month when the January inflation numbers were released. “In December, the E.U. saw its highest recorded inflation on record. Germany saw its highest inflation, in December, since reunification. And so, while there are differences country by country, this is a global phenomenon and driven by these global issues.”

[Rogar]

A person could start to think the Fed policies on interest rate aren't working. Or that they will continue some aggressive rate increases into the future. It's nice to know that the next SS increase could be substantial but it doesn't do much for people who supplement their SS income with savings and other investments.

[bae]

Stock market sure seems happy...

[Tradd]

Waiting to see what happens with the RR strike.