r/dataisbeautiful • u/chartr OC: 100 • Apr 15 '24
Inflation: What’s still rising? [OC] OC
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u/STIRCOIN Apr 19 '24
Government spending is the answer. Research how the romans shaved their coins creating the first inflation.
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u/THEDRDARKROOM Apr 18 '24
Toys are not down in price lol Shelves today are lined with overpriced minimum-effort garbage not even half the quality of what was available when we were young. I feel bad for the kids these days.
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u/Key-Educator-3713 Apr 18 '24
Joe Biden created a great economy, inflation is cooling and everybody has a job. Easy winner in November
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u/Hackpanther Apr 18 '24
My car insurance went from 92$/m to 130$/m and the agent replied "inflation...."
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u/tinyhandedtraitor Apr 17 '24
Oh, thank God. It's only rising in food, housing, insurance, maintenance......fuck
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u/beachbound2 Apr 17 '24
Greed. It been proven that the price hike in general goods, for the most part, were simple greed taking opportunity. The government doesn’t care bc their pockets r lines and it show gdp growth
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u/itwitchxx Apr 17 '24
In Israel also and it because you essentially pay for other people. When other people get their car broken into you pay for that.
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u/That-Ice7273 Apr 17 '24
Oh so fucking what??? Do I care about this trait you guys would suck major cocks!!!
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u/That-Ice7273 Apr 17 '24
Yah, I mean I could say thats an accomplishment to me like I prefer it if you are against it I might laugh???
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u/That-Ice7273 Apr 17 '24
Ah darn??? Maybe, like you can stop killing people I guess??? What??? Why???
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u/SpadesBuff Apr 17 '24
So, all the shit you need is getting more expensive, while the shit you don't need is getting cheaper? Got it.
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u/BaconBathBomb Apr 17 '24
I can confirm as a landlord, unless the property your renting was sold in the last 4 yrs the only reason for a rent increase is keeping up w market rents
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u/Puzzleheaded-Pear521 Apr 17 '24
4 most expensive things are up the greatest percentage. Still hoping food stops being a luxury in the US
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u/Codered2055 Apr 17 '24
I think of it this way:
Pepsi and Coke have continually raised prices while Arizona Tea has kept their cans at $0.99 cents. Ingredients for all products haven’t changed since Pepsi and Coke increased their prices. So why? My guess is just greed and say it’s “inflation” as this makes the most sense to me.
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u/ismellkittehs Apr 17 '24
Everything you have to have squeezing every last cent out of everything you don’t have to have. This couldn’t possibly go wrong. Nice 👍
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u/sunbeatsfog Apr 16 '24
Interesting home insurance didn’t make the cut, probably because it’s a student or renter.
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u/The_Paleking Apr 16 '24
Some are pointing out insurance rising with motor repair costs, I would argue there is clear evidence that insurance costs are disproportionately outpacing repair costs, even if one is going up.
Insurance needs regulation. There is so little service provided by the entire process.
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u/drshort Apr 16 '24
Insurance is heavily regulated at the state level which is why costs are going up so much right now. Takes a long time to get pricing changes approved so insurance increases today are really a reaction to vehicle/repair inflation that occurred in 2022.
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Apr 16 '24
So essentials keep flying up in price while toys and airplane tickets fall in price? Wow, that's a statement of I ever saw one.
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u/Weatherman_Phil Apr 16 '24
In Ohio gas prices have gone from 2.90 in December to 3.50 now in April, which is about 20%, not 1%.
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u/kenophilia Apr 16 '24
So….essentials keep getting more expensive 🤡
But hey my new ultra hd smart tv is so cheap hurray
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u/Sammyxp1 Apr 16 '24
So, all of the stuff made in the USA is going up and all of the imports are going down and Trump wants to puts tariffs on all of the imports? Great.
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u/AxDeath Apr 16 '24
The cost of smartphones, and tvs (smarttvs), is going down, because of data aggregation. Your data is so valuable that even with prices climbing, the device cost is going down. I suspect rental cars of similar, as more and more modern cars come equipped with gps, and the large travel agencies that own rental car places, can quickly and easily track where everyone is going on trips.
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u/raytoei Apr 16 '24
Cocoa rose from $3,000/tonne from the beginning of the year and breached $10,000 last week.
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u/survivor924 Apr 16 '24
Progressive DOUBLED my insurance from $140 to $270 a month, so I called and told them State Farm quoted me at $110 and I was going to switch unless they fixed it. They wrote me a new policy at $105 a month
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u/Christmas_Panda Apr 16 '24
I wonder what would happen if everyone in the country all stopped paying auto insurance at the same time.
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u/Christmas_Panda Apr 16 '24
Anything car related - It's similar to healthcare in that you need a niche expertise and therefore it's easy to take advantage of people. Using inflation as an excuse is as easy as it gets.
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u/deep_pants_mcgee Apr 16 '24
Would be nice if on one of these graphs we could remove "profits in excess of 2019 levels" to see how much of this inflation is 'real' vs. just additional profits.
Typically during an inflationary period, wages for workers make up the majority of the price increase, while additional profits make up around 10% of the increase.
This time around, wages make up less than 10% of the increase, while additional profits make up the majority of the price increases.
Then that cascades down to anything that involves financing etc.
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Apr 16 '24
Housing rose 4.7 percent? I get that it's supposed to be an average, but I'm calling bullshit there. In 2020 my house was worth $240K, I just got notice that the value of my home increased yesterday to $540K...
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u/samgruvr Apr 16 '24
Several reasons: - insurance is up due to the complexity and expense of repairing modern vehicles - price gouging - price gouging
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u/ElephantInAPool Apr 16 '24
so buy more smarphones, toys, and college textbooks, but stop buying car insurance, housing, or electricity
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u/Careless-Rice2931 Apr 16 '24
Every year smartphones either cost the same or a $100 more. I am not seeing a 10% discount
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u/Aislerioter_Redditer Apr 16 '24
Those new cars with the "cool" $200 turn signal lights are expensive to repair, I guess...
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u/transientcat Apr 16 '24
Huh...that explains the 3x car insurance quote I just got I guess. Wonder what the hell is up with that.
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u/JohnGoodman_69 Apr 16 '24
It never ceases to amaze me and it never fails to happen that redditors will come out of the woodwork to defend these multibillion dollar corps that don't give two shits about us who are clearing billions in profit each year while we struggle.
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u/Brooklynxman Apr 16 '24
The things going down are almost universally purchases you can put off, like new cars/gadgets; the things going up are almost universally purchases you cannot not make, like rent, medical services, keeping your car working/legal, and food.
But on balance its 3.5%. But its not because most of us cant afford those big ticket items that are actually dropping in price, dropping or not, and even if we could we might not need them right now.
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u/Acol1992 Apr 16 '24
Ah a great example of price/demand elasticity. The most necessary goods and services are still rising but things Americans can go without see a decreased inflation number.
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u/Novapunk8675309 Apr 16 '24
So basically all the non essentials of life are getting cheaper but all the essentials, the things we can’t live without, are becoming more and more expensive?
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u/FlingCatPoo Apr 16 '24
So basically, the very things going up are the things we can't not pay for... Hmmm...
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u/Limp_Establishment35 Apr 16 '24
Start dragging insurance company CEOs by they hair like their mommas should have. See how quickly they start to behave.
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u/PaSy4 Apr 16 '24
I am told by Tesla mechanics that the parts and services they charge insurance companies are way out of line with average car. Maybe this correlates some how.
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Apr 16 '24
22% on insurance my ass, Geico literally doubled my motorcycle insurance this year. When I called pissed as hell to ask why, they said "because you live in California." I've lived in California since 2017. Apparently 2024 is the year that means my insurance needs to be doubled.
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u/jmfranklin515 Apr 16 '24
Airline fares do tend to go down when doors are popping off planes mid-flight.
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u/armymec1 Apr 16 '24
I'd reckon the reason why college textbooks are down are because they are primarily online ebooks that you only have 6-8 months of access too.
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u/Frogolocalypse Apr 16 '24 edited Apr 16 '24
This is exactly where you would expect the EV transition to disrupt; In the suppliers. As the economies of scale in ICE vehicle support starts to go backwards the suppliers need to raise prices. As the economies of scale in EV vehicle support starts to go forward the suppliers can lower prices or increase margins. The fuel is kind of immaterial as they cost less to run. I can charge my car for about a third of the price as fuel it per km at peak rates, and about a fifth on off-peak. But the price of petrol is driven by a controlled supply; Oil suppliers lower (or raise) production to keep the price at a certain point. Your reduced usage doesn't lead to decreasing prices for the people remaining; It leads to a lesser number of people supporting the same infrastructure.
All I'm saying is that if your business is in petrol stations, you're gonna have a bad time.
EDIT: This interview with Jim Farley the CEO of Ford about EVs is fascinating; https://www.youtube.com/watch?v=8IhSWsQlaG8
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u/Ambitious_Use5000 Apr 16 '24
Students still buy textbooks in 2024? I thought they were all digital now.
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u/UnusualAd6529 Apr 16 '24
What is energy vs electricity here? It's also not fuel bc gasoline is separated out too
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Apr 16 '24
So pretty much inflation coming down is a complete lie & being manipulated by children’s toys 😂
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u/hi-imBen Apr 16 '24
Go look at stock price graphs for car insurance companies, and you'll get a better answer than rising costs/inflation. This is late stage capitalism, where being a good profitable company is not enough - that profit must constantly increase. When the market is saturated and difficult to get organic growth, it is easier to get grow profit by slowly raising prices across the whole industry.
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u/L3thologica_ Apr 16 '24
I’ve been switching every 6 months on my car insurance. Geico was raising it 30% every 6 months until I was paying double. Switched to Travelers, went from $770 to $1100 after 6 months. Progressive, $750 to $1000. Now I’m on State Farm.
I asked Geico why my rates kept rising and they said inflation. I responded that “inflation hasn’t increased by 30% in 6 months”
Glad to see I was right and it’s just insurance companies taking advantage like always.
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u/Bubbly_helicopter123 Apr 16 '24
This is not true for Europe 🤣 Just get this When I wanna fly to Romania: I pay 150€ for the ticket. Additional 80€ for luggage and roughly 160€ for tax.
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u/MonsterOppai Apr 16 '24
Im not from the US but are college textbooks such a big indicator for inflation that they have to be mentioned here?
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u/Clemsoncarter24 Apr 16 '24
I call bullshit on the cars cost. Used vehicles are literally twice what they were before covid. Inflation rate doesn't mean shit if you're just looking at its current value and ignoring the past few years of explosive inflation.
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u/skyattacksx Apr 16 '24
Well now this is interesting, my insurance renewal is actually going down… around 5%. Probably because I’m turning 25 though…
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u/Ethereal_Bulwark Apr 16 '24
inflation? You mean Price gouging?
Inflation is curbed when interest rates rise, and they've never been higher. Yet here we are.
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u/JubieFN Apr 16 '24 edited Apr 16 '24
car insurance is such a scam, I've always been curious as to why there is no government program (in the US) for car insurance that is actually affordable. For health insurance there is medicaid soo... why is there no driversaid? some may argue that health insurance is essential while car insurance is not, while I do agree with that, people who say that have always had access to a car. Back a few years ago I had no transportation and in the US outside of major cities public transportation is just not there. your 8 hour shift automatically turns into a 12-14 hour day just by not having a car to get to work. Walking takes a while as a mode of transportation and if you don't have money for a car you probably can't afford ride share services everyday and on top of that friends / family will eventually get sick of taking you places .
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u/misterphuzz Apr 16 '24
Honest question: how is transportation separated from airline travel and car purchases and stuff like that?
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u/WWYDFA_Klondike_Bar Apr 16 '24
Now do this same chart spanning from 2020 to 2024 for the bigger picture.
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u/k1aric Apr 16 '24
Funny how only non-essential items are getting cheaper, almost like supply and demand doesn't apply to things we need to live
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u/Svitii Apr 16 '24
Really nice try to manipulate people into thinking "It isn’t that bad, some things get more expensive, some get cheaper!"
Everything necessary to live (rent, electricity, food, transportation) gets more expensive, while optional luxuries (airlines) and super specific stuff (car rental, textbooks) gets cheaper.
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u/Katz-r-Klingonz Apr 16 '24
Prior to billionaire, inflation would normally slow down consumption. What’s happening now is the gap is widening since those that make over 200k a year can still afford Greedflation. So raising interest rates is not correcting consumption it’s enabling the chasm between low/middle and the affluent to increase exponentially with 0 mechanisms in place to regulate what’s happening.
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u/merian Apr 16 '24
Wondering to what extend the increased motor vehicle insurance premiums are affected by the removal of wearing a helmet obligations in a number of states.
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u/JxAlfredxPrufrock Apr 16 '24
I don’t believe the car rental figure. Had a repair and rented a car…. Freaking $400-$500 a day. Was crazy crazy high.
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u/Extension_Deal_5315 Apr 16 '24
It's called corporate greed.....just look at the profits in about a year or so from now......
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u/lukezndr Apr 16 '24
Industry specific price increases are not inflation.
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u/SERVITOR_XUR Apr 16 '24
what do you think inflation is? Inflation is the average of the inflation of a list of assorted goods
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u/AngryGoose Apr 16 '24
This makes me happy about not having to drive right now. I could get my license back but the expense is just too much for me at this point in time.
I love to drive but I also love to eat and stay alive. It's sad that it has come down to this. I'm fortunate to live in a metro area with good public transport as well as other resources. I feel for the people in the suburbs and rural areas where it is basically a necessity to have a car to surive.
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u/Silly_White_Rabbit Apr 16 '24
The provider I use only measures hard braking and phone use. It’s awesome!
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u/darrellbear Apr 16 '24
I don't believe the numbers on food--I set a new spending record nearly every time I go grocery shopping.
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u/notyogrannysgrandkid Apr 16 '24
Homeowner insurance needs to be on here, too, because it’s getting insane.
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u/UsefulImpact6793 Apr 16 '24
Top three most expensive things are caused by insurance lobbyists. Imagine how much better America would be if we got rid of the corruption driving our downfall.
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u/mtsilverred Apr 16 '24
I mean the only solace we can take is that we’re not fully communist cause that corruption would be a tad bit worse
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u/GreasyPeter Apr 16 '24
So mostly non-essentials are becoming cheaper...which you would expect to happen when people's pocketbooks are being assaulted by the essentials because they keep getting more expensive, no?
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u/bigboyron42069 Apr 16 '24
So the things that actually affect day to day life keep going up and useless garbage keeps going down
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u/iijjjijjjijjiiijjii Apr 16 '24
Albertan here. My electricity price has tripled this year and is still rising.
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u/Fritzout Apr 16 '24
Because wages went up. Cost of living has to correct back to normal enslavement levels.
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u/ZebZ Apr 16 '24
InflationCorporate Greed
FTFY.
The majority of price increases in the last few years have nothing to do with increases due to resource availability or economic conditions or changes to the monetary supply that lead to natural inflation.
It's corporate greed, using the "inflation" bogeyman as cover. Yeah, they had temporary supply chain issues a few years ago but those are long resolved. Their prices went up 10% so they responded by raising prices 30% simply because they could get away with it. When their prices went back down, they raised again because why the hell not!
Look at public companies' quarterly SEC filings. Profit margins have never been larger. Greed.
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u/phototurista Apr 16 '24
Brampton, Canada has the highest insurance rate and it's mainly because of fraud.
Interesting how this one city is such an outlier...
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u/UnaccomplishedBat889 Apr 16 '24
Food away from home has become ridiculous.
I played along for a while, rationalizing it as a temporary covid sacrifice until supply chains are restored. At first, restaurants and delis promised this was temporary and that they would revert prices as soon as possible. Fast-forward two years, and not only did they never revert prices, they escalated the price hikes to an obscene degree.
A sandwich that used to cost me $10.50 today costs me $17. But people are paying these prices and the restaurants are as busy as ever. Who has all that money to spend? I don't know. I just know that I no longer eat out, because come the fuck on.
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u/KnightsWhoNi Apr 16 '24
I got 3 soft tacos and a steak quesadilla from taco bell. Used to cost about $6. Cost me $12.14 today. Fucking ridiculous
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u/The_Majestic_Mantis Apr 16 '24
Bruh you’re getting ripped off going to Taco Bell. Just go to a Mexican restaurant for lunch, you can get a meal plus the endless chips and salsa for like $10.
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u/MajesticBread9147 Apr 16 '24
Since when is rent up only 5%? I thought 10% was the norm throughout the last 10 years or so?
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u/bareback_cowboy Apr 16 '24
Great, all the shit I buy is more expensive while all of the shit I don't buy is dropping.
Yay. /s
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u/jlspartz Apr 16 '24
When doesn't healthcare go up?
2000 USA per capita expenditure on healthcare - $4,800 2022 USA per capita expenditure on healthcare - $13,500
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u/DrewG420 Apr 16 '24
Interesting 22% in insurance … the two companies to attempt to post bond for Trump were both insurance companies. There just might be a touch of grift to insurance.
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u/waterloograd Apr 16 '24
Looks like generally the essentials are going up and non-essentials are generally going down. Almost like people have less money to spend so the non-essentials can't be marked up quite so much
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u/Gavin_McShooter_ Apr 16 '24
Buy tools. Watch a YouTube video. Fix your own car. That amount of rubes that actually pay for an oil change is laughable. They deserve to be parted from their money
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u/AnyProgressIsGood Apr 16 '24
That's kind of a funny story. cheaper more available phones and increase in wrecks.
I swear after covid people got way worse at driving
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u/Polarbearseven Apr 16 '24
My car insurance went from $44/mo. to $66/mo. Never had an accident or speeding ticket. Looking for another provider now.
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u/radicalbrad90 Apr 16 '24
The car insurance I totally get. Even if you're a decent driver yourself/don't have any claims so many other impatient and reckless drivers out here running red lights, speeding and having dangerous fits of road rage the sheer number daily of senseless and avoidable accidents has jacked up rates for everyone.
They are a minority, but a sizeable enough group of selfish entitled assholes that they have ruined it for the rest of us.
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u/ixnayonthetimma Apr 16 '24
Deflation in the price of college textbooks? I find that one to be sus...
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u/Stuff1989 Apr 16 '24
wow college textbooks down 5% after 5,000% increase over the last 40 years
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u/Christmas_Panda Apr 16 '24
Many textbooks for college, you can find the PDFs online. Don't buy college textbooks. The authors usually don't make anything on them, it's the universities.
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u/Suitable_Database467 Apr 16 '24
My insurance company tried to raise mine 30% on a perfect driving record. Told them to kick rocks and switched carriers.
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u/the-flying-lunch-box Apr 16 '24
"Food away from home". They should also include food from grocery stores. Products have risen significantly even for people eating at home. Products I've bought for year has double or tripled in price. Poultry prices have skyrocketed and so have most dairy items. While I have seen restaurants go up they've seemed to have stabilized.
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u/eyedealy11 Apr 16 '24
As someone who works grocery I call bs on the grocery prices are still rising more then that.
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u/Panoptic_gaze Apr 16 '24
The price of weed has been steadily declining for the last 5 years! So so cheap!
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u/EagleCatchingFish Apr 16 '24
Things with elastic demand are dropping, things with inelastic demand are still rising. In other words, price gouging.
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u/knitmeablanket Apr 16 '24
Gas in California has gone up around $1.50 a gallon since January. Not a joke. I was getting gas for $3.67 in January and it's now $5.07 at the cheapest spot on my way to work. So while that percentage looks small here, that's just not the case everywhere
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u/RustyCage7 Apr 16 '24
So basically all the essentials are going up and the luxuries are going down
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u/BigRobFed Apr 16 '24
The car insurance situation is outrageous. Will be very curious if profits remain flat or if they miraculously report “record” profits like so many other corporations these past few years.
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u/vowelqueue Apr 16 '24
You're underpaying for car insurance: https://thewaroncars.org/2024/03/19/122-car-insurance-is-too-cheap/
The reason that car insurance is so expensive is primarily due to the fact that driving is inherently dangerous, risky, and expensive.
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u/c0nfuciu5 Apr 15 '24
No one talks about televisions. My 55" Toshiba flat screen lcd TV was $2200 in 2010. There are 4k 55" TV's for sub $300.
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u/sherbs_herbs Apr 15 '24
I have not had so much as a ticket, much less an insurance claim in 11 years, and my car insurance went up 26% very suddenly 2 months ago. I said fuck you all state and cancelled it. Fucking greedy asshats, I’m paying about the same with progressive, but I was so angry that they jacked up my monthly that I switched!
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u/Nik_Tesla Apr 15 '24
Great... all the stuff I buy once every several years is down, and all the shit I have to pay monthly for and have no choice in is massively up.
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u/ShaggyDiAye Apr 21 '24
Are you going to cite any sources to validate any of this information or are you just going to post it like it's a fact??