Posted: Tue Jul 08, 2008 9:50 am Post subject: Re: Price Increases / Inflation Thread
DeepOil wrote:
Hogan wrote:
I've also noticed this when shopping, DeepOil. Sneaky sneaky.
Snicker, snicker.
Yes and even those Snickers chocolate bars appear to be shrinking.
Plans to shrink the size of chocolate bars, crisp packets and other snacks were unveiled yesterday by the Government's food watchdog in a bid to tackle obesity in Britain.
Posted: Tue Jul 08, 2008 9:52 am Post subject: Re: Price Increases / Inflation Thread
threadbear wrote:
DeepOil wrote:
Hogan wrote:
I've also noticed this when shopping, DeepOil. Sneaky sneaky.
Snicker, snicker.
Yes and even those Snickers chocolate bars appear to be shrinking.
Plans to shrink the size of chocolate bars, crisp packets and other snacks were unveiled yesterday by the Government's food watchdog in a bid to tackle obesity in Britain.
(...)
My point is, there can be little or no demand destruction because there's no substitute for oil in sight. Anybody read the Hirsch Report? No substitutes whatsoever.
(...)
That's not accurate. There are alternatives, but they're various solutions that doesn't scale much. There's no 1 single substitute for oil, but there are many subsitutes for some of the uses of oil.
You're absolutely right. Do you think it's accurate to assume that, since there are various substitutes are not just one, there will be less economies of scale, which will affect prices and inflation?
As Mises explained in his essay "Inflation: An Unworkable Fiscal Policy":
"Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to check.
But people today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. The result of this deplorable confusion is that there is no term left to signify the cause of this rise in prices and wages. There is no longer any word available to signify the phenomenon that has been, up to now, called inflation. . . .
As you cannot talk about something that has no name, you cannot fight it. Those who pretend to fight inflation are in fact only fighting what is the inevitable consequence of inflation, rising prices. Their ventures are doomed to failure because they do not attack the root of the evil. They try to keep prices low while firmly committed to a policy of increasing the quantity of money that must necessarily make them soar.
As long as this terminological confusion is not entirely wiped out, there cannot be any question of stopping inflation." _________________ Conform . Consume . Obey .
Joined: Oct 25, 2004 Posts: 1331 Location: Stalag 13
Posted: Wed Jul 09, 2008 8:07 am Post subject: Re: Price Increases / Inflation Thread
Alcoa raises aluminum prices
Quote:
Alcoa Inc., the world's third-largest aluminum producer, gained in Frankfurt trading after higher prices for the metal helped the company limit a decline in second-quarter profit and top analysts' estimates.
Chief Executive Officer Klaus Kleinfeld, who took over in May, boosted aluminum prices in the quarter 6.2 percent to an average $3,058 a ton.
Joined: Oct 25, 2004 Posts: 1331 Location: Stalag 13
Posted: Wed Jul 09, 2008 8:16 am Post subject: Re: Price Increases / Inflation Thread
Procter & Gamble to boost prices up to 16%
Quote:
Procter & Gamble, the maker of Tide laundry detergent and Head & Shoulders shampoo, will raise prices as much as 16 percent because of higher costs for plastic, energy and paper.
The increases are the Cincinnati-based company's steepest in at least 18 months. Procter & Gamble is betting customers will continue to buy its Gillette shaving cream and Ivory soap rather than switching to store brands with lower prices promoted by Kroger and Wal-Mart Stores.
Quote:
Retailers will pay P&G 2 percent to 16 percent more for fabric, home and hair care, bar soaps, and health and shaving products, P&G spokesman Paul Fox said in a telephone interview.
Joined: Oct 25, 2004 Posts: 1331 Location: Stalag 13
Posted: Wed Jul 09, 2008 8:37 am Post subject: Re: Price Increases / Inflation Thread
Detergents & Diapers To Get More Expensive
Quote:
Dow Chemical Co. will raise the price of its products for the second time in a month to deal with what it calls the "relentless rise" in costs of energy and related raw materials.
The Midland-based chemical company announced Tuesday it will raise prices by as much as 25 percent next month. That follows price increases of up to 20 percent that took effect June 1.
Dow makes key ingredients used in paints, textiles, glass, packaging and cars.
As part of the announcement, Dow said it's adding a freight surcharge for North American customers of $300 per shipment by truck and $600 per shipment by rail effective Aug. 1. The company said it will add the surcharges in other regions later this year.
Joined: Oct 25, 2004 Posts: 1331 Location: Stalag 13
Posted: Wed Jul 09, 2008 8:37 am Post subject: Re: Price Increases / Inflation Thread
Private gun owners feeling pinch of ammunition price increase
Quote:
Private gun enthusiasts have been strongly affected.
Evan English, president of Olde English Outfitters in Tipp City, estimates prices have risen 25 to 33 percent over the past 2˝ years for the most commonly used recreational ammo.
Common handgun ammo that was $6.99 is now $8.99, he said. A box of shot shells that was $4 is now $5.
Quote:
The price of a box of .223-caliber ammunition that sold for $4 last year is $10 this year, and still "I only make 50 cents," he said."
Joined: Oct 25, 2004 Posts: 1331 Location: Stalag 13
Posted: Wed Jul 09, 2008 8:45 am Post subject: Re: Price Increases / Inflation Thread
World's largest steel maker to increase automotive steel prices by 60%
Quote:
Arcelor-Mittal intends to raise prices for automotive steel by around 60% in gradual steps to avoid a massive increase next year, a German car magazine reported.
Asked by German car magazine Auto Motor und Sport about potential price increases of 60%, the steel maker’s head of automotive operations, Jean-Luc Maurange, said:
“Our costs have risen to that extent. We are seeking progressive ways to adjust prices successively to be able to avoid a big, painful increase in the year ahead.”
Quote:
Arcelor-Mittal is the world’s biggest steel maker and provides around 23% of the steel used by German carmakers, the magazine said.
Joined: Oct 25, 2004 Posts: 1331 Location: Stalag 13
Posted: Wed Jul 09, 2008 9:03 am Post subject: Re: Price Increases / Inflation Thread
Flying With Your Pet Gets More Expensive
Quote:
Pet owners are finding out just how expensive it is to travel with their beagle or tabby cat.
JetBlue has raised the one-way pet fee for in-cabin travel to $100, from $75, according to a report by MSNBC.com.
American, Delta, Continental and USAirways also charge $100 for one-way cabin pet travel. American raised its "cargo class" charges to $150 -- up $50.
United Airlines will raise its pet fee to $125 after Aug. 18, up from $100. Pets that travel as checked baggage in a large or extra large kennel will be charged $500 per round trip, the news website reported.
Joined: Oct 25, 2004 Posts: 1331 Location: Stalag 13
Posted: Wed Jul 09, 2008 9:09 am Post subject: Re: Price Increases / Inflation Thread
Record corn prices mean more expensive meat, dairy
Quote:
Raging Midwest floodwaters that swallowed crops and sent corn and soybean prices soaring are about to give consumers more grief at the grocery store. In the latest bout of food inflation, beef, pork, poultry and even eggs, cheese and milk are expected to get more expensive as livestock owners go out of business or are forced to slaughter more cattle, hogs, turkeys and chickens to cope with rocketing costs for corn-based animal feed.
The floods engulfed an estimated 2 million or more acres of corn and soybean fields in Iowa, Indiana, Illinois and other key growing states, sending world grain prices skyward on fears of a substantially smaller corn crop. The government will give a partial idea of how many corn acres were lost before the end of the month, but experts say the trickle-down effect could be more dramatic later this year, affecting everything from Thanksgiving turkeys to Christmas hams.
Rod Brenneman, president and chief executive of Seaboard Foods, a pork supplier in Sawnee Mission, Kan. that produces 4 million hogs a year, said high corn costs were already forcing producers in his industry to cut back on the number of animals they raise.
"There's definitely liquidation of livestock happening," and that will cause meat prices to rise later this year and into 2009, said Brenneman, who is also the vice chairman of the American Meat Institute.
Joined: Oct 25, 2004 Posts: 1331 Location: Stalag 13
Posted: Wed Jul 09, 2008 9:12 am Post subject: Re: Price Increases / Inflation Thread
Toronto, Canada taxi rides to become more expensive
Quote:
Toronto taxicab fares are going up in mid-July.
Cab drivers asked the city for the increase, citing increased gas prices and saying the present fares aren't enough to cover their costs.
The vote by council Tuesday night was unanimous.
"It's just a necessity to keep the industry going," said Coun. Howard Moscoe.
"And don't blame the poor cab driver for this, I mean we're all cursing the outcome. You know Esso made $52 billion in profits last year and the cab driver shouldn't bear the brunt of the blame."
The drop fare, or the fare a customer pays before the cab goes anywhere, will now start at $4, up from $3.
The per kilometre rate will go up to 25 cents for every 155 metres instead of 25 cents for every 170 metres.
As Mises explained in his essay "Inflation: An Unworkable Fiscal Policy":
"Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to check.
But people today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. The result of this deplorable confusion is that there is no term left to signify the cause of this rise in prices and wages.
seems the anwers to his question is inflation _________________ www.peakoil.be
Since March 2007, according to the Bureau of Labor Statistics, the price of eggs has jumped 35 percent. A gallon of milk is up 23 percent. A loaf of white bread has climbed 16 percent. And a pound of ground chuck is up 8 percent. Overall, U.S. food prices in 2008 are expected to rise 4 to 5 percent, about double the increases of recent years. And while the total rise is far less drastic than elsewhere around the world, the sharp hike for staples means everyone is feeling the pinch.
Article was from May 2008. I didn't like the whining woman they interviewed in the beginning of the article, but the statistics were interesting. _________________ Now why didn't I think of that?
School cafeterias struggling to keep food on the table
Quote:
Rising costs for fuel, food and labor are forcing school cafeterias nationwide to raise prices, cut jobs and, in some cases, dip into "rainy day" funds to put food on trays, according to congressional testimony to be delivered today.
The U.S. Agriculture Department chipped in an extra dime a meal last week to help schools pay for lunches. The new maximum rate is now $2.57, up from $2.47 in 2007.
But school nutrition directors say that doesn't keep pace with costs, which will climb 30 cents a meal this year to a national average of $2.88, the School Nutrition Association says.
Quote:
Wilson, the school nutrition director in Onalaska, Wis., also says that 62% of directors surveyed are considering job cuts in the coming school year and that 75% plan to raise the price of a meal for paying students.
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