Consumer prices in record decline -- excepting food prices, that is

[brentspeak]

Hasn't anyone here seen cheaper prices in the supermarket? I sure haven't.

[peace13]

1. No and come to think of it...

my trash removal service still has a fuel surcharge attached. I will have to make a call about that one.

[Terran]

2. I've seen some reductions (well, one I can name)

Avocados: had gone as high as $2 each, now back down to $1 each. But yeah, I keep expecting food to fall because fuel prices have fallen so much, and generally not seeing it happen yet.

[elocs]

3. The last report said prices declined 2.9% with food prices going down .2%.

That's a small number to notice, but I suppose it is better than going up .2%. I am guessing that this country still has some of the lowest prices for food compared to income in its history. While we may have to cut back or adjust what we buy to eat, others in the world are struggling not to starve.

[brentspeak]

6. I think we're all aware that people in the 3rd world are struggling not to starve

However, it's not a useful or even relevant point of argument when discussing the issue of why food prices here and elsewhere are not dropping in sync with other consumer prices.

[spinbaby]

8. Since when do they count food?

Last year when inflation was through the roof, they didn't count energy and food in the inflation numbers because they were too "volatile." But now that energy and food prices have started down, suddenly they're counting them? I smell a Republican.

[surrealAmerican]

9. Bingo. The consumer price index excludes most ...

... of the things people buy. It has been tinkered with since the 1980's to make inflation appear less extreme.

[screembloodymurder]

4. I haven't noticed any decline.

But then, core inflation doesn't include (wink, wink) food and energy. That might change now that prices are falling. Next they'll be adjusting your SS check for deflation.

[Lasher]

5. Inflation is understated by roughly 7% per year.

Inflation, as reported by the Consumer Price Index (CPI) is understated by roughly 7% per year. This is due to recent redefinitions of the series as well as to flawed methodologies, particularly adjustments to price measures for quality changes. The concentration of this installment on the quality of government economic reports will be first on CPI series redefinition and the damages done to those dependent on accurate cost-of-living estimates, and on pending further redefinition and economic damage.



http://www.shadowstats.com/article/56

[dkofos]

7. I'm guessing food prices will start down within a few months.

[Strelnikov_]

10. Diesel is still above $3/gal

Fire sale is on UNL.