Hyperinflation starting? What's happening in your area? Post your ground reports.

[shashikr]

What's happening in your area with respect to prices?

Food?
Housing?
Cost of Living?
Repair services?

Let's here some ground reports.

Price of room rent is increasing rapidly here in India.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GPM]

So I was miffed when the price of my rent went from $1,800/month to $2,000/month.

Well I decided to see what is available even remotely around me. The answer is not much. And what there is, is not as nice and is not as in as good a location, and the price is $2,500/month.

Premium house rentals, before you get into like the fancy executive houses, were like $2,800/month when I was looking before. The sort of house I would love to get my family into as more of a long term situation for Canada (owning property here is a zero on my list, Mexico gets that honor). Now that style of property is renting for $3,500-$4,000+ per month! This is madness.

I guess I should jump straight to the bonkers mansions going for $20,000+ per month.

 

[socaldude]

I don't buy into the narrative that "inflation has peaked". Or that this recession will be mild.

Everytime I go grocery shopping it seems like items are $1 or $2 more than the last time I went. Everything costs $7.99 or $8.99 for things that used to cost $3.99 or $4.99 pre-2020.

My opinion is that WAGES will lead the next wave of inflation. OIL ain't going nowhere and it only went down because we have slowed down. RENTS will not go down either.

I have no idea how these people in charge are going to get inflation down from 9% down to 1%. No Way.

 

[MJ DeMarco]

Wow, just wow.

And this is what's wrong with real inflation VS reported inflation.

Every inflationary item in my life has NOT gone up 9%, it's gone up 25%, 40%, or 50%.

But 80%?

Damn.

UK energy bills to rise by 80% in October as regulator announces hike

The government has been criticized for failing to provide enough support to shield consumers from "catastrophic" price rises.

www.cnbc.com

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[farmer79]

Wow, just wow.

And this is what's wrong with real inflation VS reported inflation.

Every inflationary item in my life has NOT gone up 9%, it's gone up 25%, 40%, or 50%.

But 80%?

Damn.

UK energy bills to rise by 80% in October as regulator announces hike

The government has been criticized for failing to provide enough support to shield consumers from "catastrophic" price rises.

www.cnbc.com

And the snowball keeps growing as the article says the government is going to give £400 and £650 to help with the high costs. Nothing like printing and giving away money to curb inflation.

 

[RicardoGrande]

So I was miffed when the price of my rent went from $1,800/month to $2,000/month.

Well I decided to see what is available even remotely around me. The answer is not much. And what there is, is not as nice and is not as in as good a location, and the price is $2,500/month.

(...)Now that style of property is renting for $3,500-$4,000+ per month! This is madness.
I guess I should jump straight to the bonkers mansions going for $20,000+ per month.

I've gotten flak from older people for years for saying this, but this has always been the natural end point of speculating on land and housing and treating it like an asset instead of simply a place to live or be.

We're already at the point where my generation and Zoomers are expected to be lifetime rent slaves/rent serfs, but over the past few months as average rent races past 2,000$/mo, even that is getting untenable and you have 1 out of 3 or more US/UK millenials or younger living with their parents despite having full time, professional jobs.

The first cure to this is to put a stake in the heart of the fed and private equity home "investing". The second would be to regulate housing purchasing to death. I WILL get flak for this view because it's not lolbertarian or the epic "pull yourself up by your bootstraps" entrepreneur mindset, but I don't think any sort of mindset can fix the fact that the average home purchase went from 5 years income to 40-50 years of income in just three decades and blackrock and citadel give you a blank stare and harass you as they buy up more houses to turn around and rent out.

 

[jdm667]

And the snowball keeps growing as the article says the government is going to give £400 and £650 to help with the high costs. Nothing like printing and giving away money to curb inflation.

Yup - just like student loan debt forgiveness in the U.S. I'm sure it will totally make college more affordable and worthwhile. No way it could have the opposite effect!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[DuncDad]

I believe we are witnessing a massive hyperinflationary event underway as prices continue to skyrocket in all asset classes. Of course, this doesn't happen in 1 day or 1 week, but over the course of a year or two.

Meanwhile, the Fed continues to say inflation is under control.

I've extracted some of the posts from the other INFLATION thread -- please use this thread to POST YOUR EXPERIENCE in your area/country/city of higher prices.

The mainstream narrative is that inflation is under control -- I contend that it is running in the double-digits and as always, the media and their sycophants are lying.

Of course, if you have a local experience of LOWER PRICES, feel free to post that too.

The only place I've found lower prices are in consumer electronics like televisions. Got make that propaganda easily accessible!

Here in Australia, fuel up 50-70% in last 6 months, electricity prices up 20-30%. Meat up 20-25%, vegetables up 2-3x -- $8 for a lettuce at one point.

 

[Kevin88660]

I've gotten flak from older people for years for saying this, but this has always been the natural end point of speculating on land and housing and treating it like an asset instead of simply a place to live or be.

We're already at the point where my generation and Zoomers are expected to be lifetime rent slaves/rent serfs, but over the past few months as average rent races past 2,000$/mo, even that is getting untenable and you have 1 out of 3 or more US/UK millenials or younger living with their parents despite having full time, professional jobs.

The first cure to this is to put a stake in the heart of the fed and private equity home "investing". The second would be to regulate housing purchasing to death. I WILL get flak for this view because it's not lolbertarian or the epic "pull yourself up by your bootstraps" entrepreneur mindset, but I don't think any sort of mindset can fix the fact that the average home purchase went from 5 years income to 40-50 years of income in just three decades and blackrock and citadel give you a blank stare and harass you as they buy up more houses to turn around and rent out.

Depends on the political will for an efficient public housing program.

Public housing for Income below a certain threshold. Speculation for Private housing.

 

[Jadus]

Wow, just wow.

And this is what's wrong with real inflation VS reported inflation.

Every inflationary item in my life has NOT gone up 9%, it's gone up 25%, 40%, or 50%.

But 80%?

Damn.

UK energy bills to rise by 80% in October as regulator announces hike

The government has been criticized for failing to provide enough support to shield consumers from "catastrophic" price rises.

www.cnbc.com

It's not just the result of inflation. It's also the result of bad decisions. Europe turned away from an inexpensive, clean power source that could have helped prevent this. Nuclear energy.

In the same way, gasoline prices in the USA need not be as high as they are. The Biden administration turned away from oil self-sufficiency and left the common man to suffer in the name of "going green".

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Kevin88660]

Wow, just wow.

And this is what's wrong with real inflation VS reported inflation.

Every inflationary item in my life has NOT gone up 9%, it's gone up 25%, 40%, or 50%.

But 80%?

Damn.

UK energy bills to rise by 80% in October as regulator announces hike

The government has been criticized for failing to provide enough support to shield consumers from "catastrophic" price rises.

www.cnbc.com

Prices are higher in Singapore but definitely not as bad.

Food imports took the most hit. 50-70 percent price increase for eggs as Malaysia decides that they are cutting exports to us to save for more food for their own local people.

Services (getting a hir cut) are like 20-30 percent more expensive than pre covid.

There are still a lot of other items with no significant increase in price.

Singapore practices a liberal labor market policy where service/labor cost is kept low through using foreign nationals in South East Asia. This translates to much price competitive product and services.

 

[originalMJT]

My gas & electrical bill for 4 bedroom detached house was £100 a month now £200 soon to be £400 then £800 next year people are not going to pay over £9000 grand a year for fuel

 

[Jadus]

Here's an update from Thailand. I've been here for 7 years, living in both condos and houses. I've never paid much over 2000 baht (about US$55 at todays exchange rate) for electricity. And that's with air conditioners going day and night. I just got the bill for this month and it's almost 3000 baht (about US$83). I know it's still a drop in the bucket compared to the cost of electricity in the states but a 50% increase still cuts into the cost of living quite a bit.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Saavedra]

Update from Sweden: everything is going up, not like by a lot, but up. my salary 3%, some researchers i know got a job for 40000 SEK a month, so employers are already hiring with inflation in mind.

electricity was always cheap in Sweden, until the the reaards at the green party had the bright idea to start shutting down reactors. here we didnt go ful reater as in Germany, but some were actually shut down. so now electricity went from around or less than 1 sek / kwh to like 6? where i live is apartments so my bill went from 400 SEK (40€?) to like 60/80. we are getting community electricity soon, so that will lower the costs a lot, so im hoping to go back to 400 or keep it as it is.

food is more expensive, but you can still find cheapest cheese for like 8€/kg, when it used to be 6€/kg for like a decade.

houses are going down in price which is great for young people, since inflation + going down in prices means it is going down a lot. usually sweden doesn't take a long time to adjust housing prices, people start selling like crazy once the downturn is offficially known, because they want to buy cheaper later on. unlike in spain where people are teraded and think selling "cheap" is "bad-selling".

 

[GPM]

Shrink ray in action! I was buying some stuff for a piñata. The 10 pack is now a 9 pack.

 

[Johnny boy]

Over the last 6 months I’ve just been yelling at my girlfriend every time she goes to the grocery store saying “bitch you’re wasting my money! $250??!!”

Whoops lol

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GPM]

The price of razors "on sale" is more than I paid the last time I needed some, and I noticed this gem too. One of these holders is not like the other... The new one is on the right

 

[farmer79]

No updates in a while but inflation still running rampant in rural Canada. Our local 1000 person town grocery store (it is a Co-op, though which is a province wide chain so should be cheaper than just a local small town independent.)

24 rolls of toilet paper = $41.79

 

[MattR82]

No updates in a while but inflation still running rampant in rural Canada. Our local 1000 person town grocery store (it is a Co-op, though which is a province wide chain so should be cheaper than just a local small town independent.)

24 rolls of toilet paper = $41.79

I can see the old hose next to the toilet common in sth east Asia becoming popular in North America...

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Patryk.]

How much more of minimal wage teacher in Poland made...
You don't need any university and you can earn the same in McDonald's without a debt.
The teachers earning is so low now because of rising minimal wage (bc inflation) without raising the teacher's paycheck. Like this looks most of the jobs. You will get inflation raise on your paycheck when your paycheck will be equal to minimal wage and gov will raise the minimal wage.
Minimal wage should stay as it was.
It looks like they are preparing people for the 'basic' income thing.

The peak in 2019 is after teacher's strikes...

 

[Fox]

I have noticed the last while in hotel pools and gyms that the water is colder and more lights are turned low or off.

 

[MetalGear]

The bread at restaurants is thinner

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MattR82]

I've started a commercial cleaning biz and over the last few months all I ever seem to hear is my clients on the phone telling people they have no stock of what they want and probably won't until next year.

Worst hit seems to be an air conditioner supplier, they're busy summer period in Australia is wrecked.

 

[Walter Hay]

I can see the old hose next to the toilet common in sth east Asia becoming popular in North America...

Ever used a public toilet in India? The walls are brown, but I have no idea what the color was when they were originally built.

Some Christian religious fanatics take it upon themselves to voluntarily clean the walls. If cost of toilet paper becomes too onerous, try some religious fanatics.

I'm not a religious fanatic!

Walter

 

[EmotionEngine]

I eat blueberries and oatmeal for breakfast every morning. In the PNW we have a grocery store chain called Fred Meyer and they were bought out by Kroger a few years back. Anyhow, the Private Selection (Kroger brand) Blueberry bag I would buy cost me around $9.99. This morning at the store it was $14.99 (but on sale for $13.99). That's quite the jump.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Nomadic]

My slow lane job is working on the biz dev side of institutional real estate - specifically single family rentals. This particular industry is obviously having heavy impact on the economy & it's macro factors right now. I won't pretend to be an economics genius but with data that says institutions account for almost 30% of homes bought in particular markets (most of which were off-market deals that the public never knew were for sale), it's clear to see that it's going in a bad direction in regards to housing alone.

New exploding asset classes like "build to rent" developments where builders & funds are buildings 1000's of homes to rent them out for steady income instead of selling them to new families, in a macro environment where supply is already limited, seems careless to me in regards to what the future of home ownership looks like - or lack thereof. And tens of billions of dollars are being shifted to this as we speak.

They then are fronting it as them being the hero of millennials that can't afford to buy homes (largely due to themselves as an institution buying every home that comes up for sale & inflating demand), since prices are so competitive.

Not sure where this ties into the economics & inflation going on - but morally, I have internal dilemmas about working in this industry every day. Another reason that keeps me pushing for the fast lane.

 

[GPM]

This seems like a fair price... (Canadian $)

 

[Walter Hay]

This seems like a fair price... (Canadian $)
View attachment 45554

At about US$7.30 per liter (1,000ml) that does seem reasonable.

Walter

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Jadus]

I eat blueberries and oatmeal for breakfast every morning. In the PNW we have a grocery store chain called Fred Meyer and they were bought out by Kroger a few years back. Anyhow, the Private Selection (Kroger brand) Blueberry bag I would buy cost me around $9.99. This morning at the store it was $14.99 (but on sale for $13.99). That's quite the jump.View attachment 45552

It's interesting to see how prices are raised. At a local store that I shop at, I know the normal price of things. Now the normal prices are "sale" prices, with a higher price behind it. Apparently they want to condition people to think the new higher price is "normal".

 

[MitchC]

This seems like a fair price... (Canadian $)
View attachment 45554

I hope you’re not putting that in your body