Everything got more expensive all over the world beyond inflation rates

[enbits]

I have the feeling that things got really expensive world-wide way beyond inflation rates. In Colombia is pretty easy to spend 100 bucks in groceries for the week. During my trip to Europe it felt kind of the same. Have you been travelling to other countries and had the same feeling about things getting really expensive no matter where?

In some mainstream media articles they talk about this specific video saying that the price difference may be due to out of stock products being replaced by others, but here is another case with more detailed comparison of specific products from 2022 to 2024 with an increase of 75%:

https://www.reddit.com/r/povertyfinance/comments/1bar94s/prices_on_items_i_buy_increased_75_from_2022_to

 

[earlyretirement]

I agree. My mother in law that is from Colombia and lives there part of the year has really complained about inflation there. I honestly believe since COVID it's just jumped up tremendously in many areas. In California where I live most of the year, grocery stores cut down portion sizes and raised prices masking even higher inflation on many things.

 

[MickMolloy]

Inflation rates are all lies aren't they? I am mentally ill and autistic and tend to eat the same meals for months at a time. Therefore it's easy to see when my food has increased greatly in price while "official" inflation is a couple of percent

 

[Larry]

Inflation rates are all lies aren't they? I am mentally ill and autistic and tend to eat the same meals for months at a time. Therefore it's easy to see when my food has increased greatly in price while "official" inflation is a couple of percent

Yes the government inflation numbers are lies. Not all of them but I noticed the same thing. I often get the same meals and they keep going up!

 

[enbits]

Yes the government inflation numbers are lies. Not all of them but I noticed the same thing. I often get the same meals and they keep going up!

I don't want to politicize this, it is a global phenomenon that is hard to understand. I agree with @earlyretirement that world economics got really messed up after COVID:

• Before COVID prices were stable world-wide overall.
• During COVID governments started printing more money thus generating more inflation and at the same time less people / business were working hence less production.
• After COVID the inflation started hitting hard on prices plus business overpriced things to recover from the pandemic

Another important variable: The neverending war in Ukraine causing the oil price to go up affecting the prices of all goods.

 

[Uncle Wong]

I don't want to politicize this, it is a global phenomenon that is hard to understand. I agree with @earlyretirement that world economics got really messed up after COVID:

• Before COVID prices were stable world-wide overall.
• During COVID governments started printing more money thus generating more inflation and at the same time less people / business were working hence less production.
• After COVID the inflation started hitting hard on prices plus business overpriced things to recover from the pandemic

Another important variable: The neverending war in Ukraine causing the oil price to go up affecting the prices of all goods.

I travel around and have seen the same thing. Prices went up but they have not come down once they go up. This is one of the things I noticed about Argentina. It seems like once prices go up they never get cheaper. I wonder what will happen over the next 4 years with Trump. I don't want to make this political either but if there are import taxes on Chinese goods that will make everything even more expensive in the USA.

 

[RN in BA]

I have the feeling that things got really expensive world-wide way beyond inflation rates. In Colombia is pretty easy to spend 100 bucks in groceries for the week. During my trip to Europe it felt kind of the same. Have you been travelling to other countries and had the same feeling about things getting really expensive no matter where?

In some mainstream media articles they talk about this specific video saying that the price difference may be due to out of stock products being replaced by others, but here is another case with more detailed comparison of specific products from 2022 to 2024 with an increase of 75%:

https://www.reddit.com/r/povertyfinance/comments/1bar94s/prices_on_items_i_buy_increased_75_from_2022_to

Good point. Stuff got expensive everywhere. I don't think they talk as much about inflation in the USA. They always point out some BS 6% a year rate but everything I buy is much more. Chicken, beef, fish, vegetables. You name it.

I hear the same complaints from friends all over the world.

 

[CraigM]

Good point. Stuff got expensive everywhere. I don't think they talk as much about inflation in the USA. They always point out some BS 6% a year rate but everything I buy is much more. Chicken, beef, fish, vegetables. You name it.

I hear the same complaints from friends all over the world.

Indeed. US CPI was sub-2% for decades until the past few years when it's been in the 4-8% range, but I don't know anyone rich or poor who can relate to those numbers. The Biden administration was a total disaster on that front. It was awful watching them stumble from one bad decision to another and then pretend it wasn't happening. Good news is this should be low hanging fruit for Trump if he can stay focused.

 

[James Bond]

Indeed. US CPI was sub-2% for decades until the past few years when it's been in the 4-8% range, but I don't know anyone rich or poor who can relate to those numbers. The Biden administration was a total disaster on that front. It was awful watching them stumble from one bad decision to another and then pretend it wasn't happening. Good news is this should be low hanging fruit for Trump if he can stay focused.

I think you are correct. I have American friends that were Democrats but they reluctantly voted for Trump. They told me how crazy prices got in the supermarkets. @CraigM what was the true inflation # on things? Numbers sound all over the place.

 

[CraigM]

I think you are correct. I have American friends that were Democrats but they reluctantly voted for Trump. They told me how crazy prices got in the supermarkets. @CraigM what was the true inflation # on things? Numbers sound all over the place.

I'm kind of in that camp as well. Incompetence and delusion are a bad combination and I would have voted for a chimpanzee over Harris (hopefully that's not what I did haha).

Not sure how to measure inflation across the whole economy here but food here has been well over 10% the past few years, school fees 6-10%, insurance 20-50%. Insurance is now our biggest expense when you include healthcare, so those increases are really meaningful. About the only thing that hasn't gone up is gas prices but that's a minor expense nowadays.

 

[Betsy Ross]

I'm kind of in that camp as well. Incompetence and delusion are a bad combination and I would have voted for a chimpanzee over Harris (hopefully that's not what I did haha).

Not sure how to measure inflation across the whole economy here but food here has been well over 10% the past few years, school fees 6-10%, insurance 20-50%. Insurance is now our biggest expense when you include healthcare, so those increases are really meaningful. About the only thing that hasn't gone up is gas prices but that's a minor expense nowadays.

I am a Democrat but when I sent in my main in ballot last year I voted for Trump. It was painful to watch Harris speak and Biden was just too old. If he stepped out of the race earlier the Democrats could have chosen a true candidate but faced with Harris I had no choice. I hope I don't regret my vote.

My sister who lives in Santa Barbara said food costs in California have jumped up at least 20%. It is interesting @CraigM you mentioned about tuition fees going up. My sister said the same thing. Do you send your kids to private schools? Here in BA all my friends with children also have told me that tuition has gone up 100% over the past few years. My sister's insurance policy for her home went up 100% and I'm not sure what will happen after the wildfires now.

 

[earlyretirement]

I'm kind of in that camp as well. Incompetence and delusion are a bad combination and I would have voted for a chimpanzee over Harris (hopefully that's not what I did haha).

Not sure how to measure inflation across the whole economy here but food here has been well over 10% the past few years, school fees 6-10%, insurance 20-50%. Insurance is now our biggest expense when you include healthcare, so those increases are really meaningful. About the only thing that hasn't gone up is gas prices but that's a minor expense nowadays.

I think inflation is a tricky thing to measure. I know at least for Southern California prices on everything have jumped up on just about everything. Food prices in both grocery stores and restaurants have gone up tremendously. They also cut portion sizes so that further has driven up the true prices. Fortunately, I don't have to pay for private schools. I purposely moved to a great school district so the schools are as good as private schools and I don't pay any tuition yet until my kids start college.

Medical insurance keeps jumping up and also my home insurance is jumping up, especially as insurance companies exit Southen California. I'm told it will go up 250% when my policy ends in July. It's terrible. Fortunately I don't have to buy gas (only drive Teslas) and no electricity as I have 50 solar panels on my house and haven't paid for electricity in many years.

Here in BA all my friends with children also have told me that tuition has gone up 100% over the past few years.

That is true @Betsy Ross about tuition rates going up but it's important to understand context. I had dinner at my friend's house last night and they were telling me the tuition went from $1,000 USD in 2015/2016 down to about $500 in 2023 now back to $1,500 for two kids. Big jump up.

 

[CraigM]

I am a Democrat but when I sent in my main in ballot last year I voted for Trump. It was painful to watch Harris speak and Biden was just too old. If he stepped out of the race earlier the Democrats could have chosen a true candidate but faced with Harris I had no choice. I hope I don't regret my vote.

My sister who lives in Santa Barbara said food costs in California have jumped up at least 20%. It is interesting @CraigM you mentioned about tuition fees going up. My sister said the same thing. Do you send your kids to private schools? Here in BA all my friends with children also have told me that tuition has gone up 100% over the past few years. My sister's insurance policy for her home went up 100% and I'm not sure what will happen after the wildfires now.

We've done public and private Betsy. I can understand the tuition increases because their costs are mainly people, who are themselves experiencing a lot of inflation. US college costs have gotten out of hand.

 

[FuturoBA]

I think inflation is a tricky thing to measure. I know at least for Southern California prices on everything have jumped up on just about everything. Food prices in both grocery stores and restaurants have gone up tremendously. They also cut portion sizes so that further has driven up the true prices. Fortunately, I don't have to pay for private schools. I purposely moved to a great school district so the schools are as good as private schools and I don't pay any tuition yet until my kids start college.

Medical insurance keeps jumping up and also my home insurance is jumping up, especially as insurance companies exit Southen California. I'm told it will go up 250% when my policy ends in July. It's terrible. HaFortunately I don't have to buy gas (only drive Teslas) and no electricity as I have 50 solar panels on my house and haven't paid for electricity in many years.



That is true @Betsy Ross about tuition rates going up but it's important to understand context. I had dinner at my friend's house last night and they were telling me the tuition went from $1,000 USD in 2015/2016 down to about $500 in 2023 now back to $1,500 for two kids. Big jump up.

Exactly this. Inflation affects everyone differently and what matters is how it affects you. Some things are necessities, others luxuries. and the line isn't always clear - schools for example. Also depends on relative vs absolute change - small ticket items with a big increase won't affect one as much vs a big cost with a smaller percentile but higher overall change. Having said that most things I've noticed have gone up noticeably in the past 5 years here, from housing, property taxes, insurance, and many more. A good way to protect against said inflation is to live below your means so 1. you have a buffer to protect yourself against it 2. all things being equal lower COL means lower increase in absolute costs and 3. maybe most importantly you can invest the rest. Something simple such as a VTI index fund has increased around 25% over the past year and 80% the past 5. Not investment advice and past performance doesn't mean future performance, but overall one can find a way to be better off financially even with rise in costs.

 

[Betsy Ross]

We've done public and private Betsy. I can understand the tuition increases because their costs are mainly people, who are themselves experiencing a lot of inflation. US college costs have gotten out of hand.

American colleges seem like they are a rip-off now. I am not sure they are worth it unless you have a worthwhile degree. I believe many kids are going to end up with tremendous student loan debt and won't be able to find jobs.

Exactly this. Inflation affects everyone differently and what matters is how it affects you. Some things are necessities, others luxuries. and the line isn't always clear - schools for example. Also depends on relative vs absolute change - small ticket items with a big increase won't affect one as much vs a big cost with a smaller percentile but higher overall change. Having said that most things I've noticed have gone up noticeably in the past 5 years here, from housing, property taxes, insurance, and many more. A good way to protect against said inflation is to live below your means so 1. you have a buffer to protect yourself against it 2. all things being equal lower COL means lower increase in absolute costs and 3. maybe most importantly you can invest the rest. Something simple such as a VTI index fund has increased around 25% over the past year and 80% the past 5. Not investment advice and past performance doesn't mean future performance, but overall one can find a way to be better off financially even with rise in costs.

I agree. You make a great point FuturoBA about needs vs. wants. Many things my sister spends money on are what I consider luxuries but she considers them essential. For example, she lives in an excellent school district with 10 rated public schools but she feels like she needs to pay $30,000 a year to send her kids to private schools. It doesn't make sense to me but different priorities.

Living beneath your means is great to do but most people can't or won't do that. I went from a bigger house in the USA that I thought I needed to a 2 bedroom apartment which is more than enough room for me. Agree about index funds. I have so many friends that try to buy individual stocks and take a lot of risks but overall index funds provide decent returns over the long run.

I took a look at what it would cost to live the same life that I had in the USA over a decade ago and it is shocking. Property taxes, insurance, utilities have all gone up tremendously. My apartment is paid off in Recoleta. You can get by reasonably in Argentina if you don't go out to eat every day.

People exaggerate online about costs compared to US. I know @Larry loves to say it is as expensive here in Argentina vs other places but the truth is that there is no way you could live in the USA on the same budget that I spend in Argentina. Not even close.

 

[FuturoBA]

American colleges seem like they are a rip-off now. I am not sure they are worth it unless you have a worthwhile degree. I believe many kids are going to end up with tremendous student loan debt and won't be able to find jobs.


I agree. You make a great point FuturoBA about needs vs. wants. Many things my sister spends money on are what I consider luxuries but she considers them essential. For example, she lives in an excellent school district with 10 rated public schools but she feels like she needs to pay $30,000 a year to send her kids to private schools. It doesn't make sense to me but different priorities.

Living beneath your means is great to do but most people can't or won't do that. I went from a bigger house in the USA that I thought I needed to a 2 bedroom apartment which is more than enough room for me. Agree about index funds. I have so many friends that try to buy individual stocks and take a lot of risks but overall index funds provide decent returns over the long run.

I took a look at what it would cost to live the same life that I had in the USA over a decade ago and it is shocking. Property taxes, insurance, utilities have all gone up tremendously. My apartment is paid off in Recoleta. You can get by reasonably in Argentina if you don't go out to eat every day.

People exaggerate online about costs compared to US. I know @Larry loves to say it is as expensive here in Argentina vs other places but the truth is that there is no way you could live in the USA on the same budget that I spend in Argentina. Not even close.

I believe hospital costs and college tuition has been rising at the fastest rate of all sectors, and it's not due to quality but administrative costs. Much of that can be shrunk down or eliminated. I don't have kids, but if I did, I can't imagine spending so much to send them to private schools unless they had special needs. I went to a low ranking school and turned out ok, and come from the school of thought that "everything can be learned, but not everything can be taught." Some things require schooling and professional certification, IE lawyer, doctor, dentist etc but outside of those most things can be learned through a strong enough curiosity

 

[CraigM]

I believe hospital costs and college tuition has been rising at the fastest rate of all sectors, and it's not due to quality but administrative costs. Much of that can be shrunk down or eliminated. I don't have kids, but if I did, I can't imagine spending so much to send them to private schools unless they had special needs. I went to a low ranking school and turned out ok, and come from the school of thought that "everything can be learned, but not everything can be taught." Some things require schooling and professional certification, IE lawyer, doctor, dentist etc but outside of those most things can be learned through a strong enough curiosity

No doubt you're right Futuro, but there are other considerations and I hope you're lucky enough to have kids someday. Mine have been a joy and whatever privileges we've afforded them, they have paid it all back through hard work and perseverance. Most of their friends are that way too.

 

[Betsy Ross]

No doubt you're right Futuro, but there are other considerations and I hope you're lucky enough to have kids someday. Mine have been a joy and whatever privileges we've afforded them, they have paid it all back through hard work and perseverance. Most of their friends are that way too.

You sound lucky Craig. My sister's kids are spoiled brats!

 

[Uncle Wong]

I believe hospital costs and college tuition has been rising at the fastest rate of all sectors, and it's not due to quality but administrative costs. Much of that can be shrunk down or eliminated. I don't have kids, but if I did, I can't imagine spending so much to send them to private schools unless they had special needs. I went to a low ranking school and turned out ok, and come from the school of thought that "everything can be learned, but not everything can be taught." Some things require schooling and professional certification, IE lawyer, doctor, dentist etc but outside of those most things can be learned through a strong enough curiosity

I don't have kids either although I would like to some day. The downside of Latin America and it sounds like BA is no different is that private schools are a must in Argentina where in USA in many areas its a luxury.

No doubt you're right Futuro, but there are other considerations and I hope you're lucky enough to have kids someday. Mine have been a joy and whatever privileges we've afforded them, they have paid it all back through hard work and perseverance. Most of their friends are that way too.

My brothers kids need more attention. They aren't special needs but the student to teacher ratio in the public schools is about 38 to 1 and that is too much.

 

[noname]

You’re absolutely right about private schools being almost essential here, though I’d add that in CABA, public schools tend to be better than those in the province, and some even have a very high standard. That said, Kicillof really needs to invest more in education. Uncle Wong’s point is spot on, 38 students per teacher is way too much, and let’s not even get started on the constant strikes in the public sector. It’s no wonder so many parents opt for private education here.