2 Comments
Jul 2Liked by David Shane

The calculation of the change in purchasing power for the dollar from the government's own tool shows that the cost would be at least $257.83 now. About a 21% increase. https://data.bls.gov/cgi-bin/cpicalc.pl

The method and basket they use to calculate is of course ripe for critique.

I suspect the inflationary impact also hits far harder as you get to more cheap and "base" goods. The bougie already-expensive items at say Whole Foods can absorb more of this hit than tight margin common staples.

Expand full comment
Jul 2Liked by David Shane

Considering how inexpensive oil and its refined products were in summer 2020, I'd guess that the biggest price increases from then to now might be in heavy/bulky low-priced commodity foods, such as flour, milk, rice, potatoes, that are transported long distances. The spreadsheet shows some evidence pointing that way, but not an enormous amount.

Expand full comment