this post was submitted on 26 Apr 2025
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Wow, so I did tha math. The official inflation rate factors up to just over 1.5 (50% increase) over the past 16 years. But this meme suggests a factor of 3.58!!! (258% increase)
The official inflation rate doesn't include food or energy. It's ridiculous.
Food and products have 2.3x'd since just before covid started.
The most funny thing was the "I can't eat an iPad" reply, when someone from the Fed tried to explain these mental gymnastics
https://www.wsj.com/articles/SB10001424052748704893604576199113452719274
https://archive.is/k6hU4
For those who don't have a plugin to bypass WSJ paywall
It does include food and energy, but they also separately report a "core" inflation that excludes those items because food and energy tend to go up and down.
Or up and less up
Looking at beef in particular, a pound of ground beef has gone up from $2.10/lb in 2008 to $6.20 in 2025.
Chicken breast, on the other hand, has gone from $3.50/lb to about $4.10.
Beef has been getting more expensive faster than inflation basically my whole life, while stuff like chicken, milk, and eggs have been volatile, jumping up and down at times, and stuff like rice and flour have long periods of stability with the occasional big permanent jump.
That chicken price is indicative of the increasing size and density of factory farms, which caused the bird flu epidemic in the first place.
It was on a famous show.
Itβs prepared food, so the price also depends on wage increase and changes to tip structure in that state. Several states began fair wage for servers after 2008, so the gratuity may now be included in the price of the meal.
I would like to say, California instituted a $20 fast food minimum wage which was estimated to cause an 8% increase in overall wages (they already trend high there) but a 1.5% increase in menu prices. To my mind this tracks as wages are kind of small (too small) against ingredients, building lease, etc.
Granted, increasing the wages of everybody in the agricultural supply chain would probably have a bigger effect, but overall I think businesses tend to mcfucking lie about the impact of wage increases on consumer prices.
Iβm more getting at tipped worker vs fair wages for servers. The minimum wage in the US is $7.25/hr, but tipped worker minimum wage is $2.13/hr. States that have shifted to fair wages now must pay their workers standard minimum wage. Most eateries in those states have increased their prices 15-20%, and inform customers that the gratuity is now included in the meal price. Itβs no different on your wallet, but could account for some of the increase in price point depending on the location of the establishment.