I've certainly noticed inflation in my lifetime, but nothing like this.
As the world economy overheats, due in large part to huge demand-side expansions in China and India, inflation is quite noticeable. You may have read my mention of gasoline prices (and I saw a sign for diesel at $3.999 per gallon recently), but the real shock for me has been seeing prices rise in such a hurry. I'm used to seeing prices creep up. You know, the bag of potato chips that's still $2.99, but is now 13.3 ounces instead of 14 ounces, or the favorite restaurant raising entrée prices by 25¢ each. Tonight it really hit home when I saw the new menus at a favorite place and the prices had gone up by more than 20%. My favorite combination plate was $7.50 and now it's $10.50. I mentioned to the waitress that I had heard of staples going up, but was a little shocked. She said the owner explained to her that cheese has gone up 50%.
As the world economy overheats, due in large part to huge demand-side expansions in China and India, inflation is quite noticeable. You may have read my mention of gasoline prices (and I saw a sign for diesel at $3.999 per gallon recently), but the real shock for me has been seeing prices rise in such a hurry. I'm used to seeing prices creep up. You know, the bag of potato chips that's still $2.99, but is now 13.3 ounces instead of 14 ounces, or the favorite restaurant raising entrée prices by 25¢ each. Tonight it really hit home when I saw the new menus at a favorite place and the prices had gone up by more than 20%. My favorite combination plate was $7.50 and now it's $10.50. I mentioned to the waitress that I had heard of staples going up, but was a little shocked. She said the owner explained to her that cheese has gone up 50%.
I think my personal finances are in for a long year...
CDs listened to today:
- Dizzee Rascal: Boy In Da Corner
- Alfred Schnittke: Symphony No. 8
- Pierre Boulez: Le Marteau Sans Maitre, disk 3
- Lauryn Hill: The Miseducation Of Lauryn Hill
- Cuong Vu: Vu-Tet
- Claude Debussy: La Boite A Joujoux
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