How has inflation changed your expense/spending strategy?

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stoptothink
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Re: How has inflation changed your expense/spending strategy?

Post by stoptothink »

grogu wrote: Sun Jan 23, 2022 12:16 am Just to add a breakfast beverage to the bacon discussion, the most astounding (of many) inflationary increases I noticed over the past 6-12 months has been apple juice. Before the inflationary spike, I could get a store-brand 64-oz container for $0.99. The price now is $2.29. To a lesser extent, I have seen substantial (but not 131%) increases in almost all of my liquid beverages--soda, bottled water, gatorade, red bull, etc.
We have a local liquidation/scratch and dent/fell off the back of a truck store. I go there every other week for random food items (produce (yes, it is actually decent), frozen veggies, raw nuts); it's absolutely insane to see how the prices have risen there over the past year there. A year ago bananas at the discount store were $.16/lb, they are now $.49/lb. A 1lb package of frozen broccoli was $.25, it was $.75 yesterday.

We otherwise shop at local WINCO, which has also raised prices, but not quite as much. We can't really change our food spending habits because there is almost no "fluff" there.
2pedals
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Re: How has inflation changed your expense/spending strategy?

Post by 2pedals »

No changes in plan. I am on a diet, lost over 60 lbs the past three years, with 40 lbs in of it in 2021 which has helped keep food costs down. :shock: We are spending a lot more on discretionary home improvement items.
Grogs
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Re: How has inflation changed your expense/spending strategy?

Post by Grogs »

I really have a tough time pinning down my personal rate of inflation. I do see prices in the grocery store sometimes that appear a good deal higher than before, but my overall grocery bill for 2021 was lower than in 2020. It's also hard to compare directly apples-to-apples. I'm living temporarily in a much higher cost of living city, but the grocery stores up here have different brands. And if the higher priced item is something that's not a staple food, I just don't buy it. :confused

Housing in the VHCOL area where I'm staying is insanely more expensive here than my MCOL permanent residence, but luckily my company reimburses me for (almost) all of my rent. I take public transportation here most of the time and rarely drive, so gas prices haven't been a direct factor. I'm sure they feed into other prices indirectly.

Back home where I own my condo, I haven't seen any big increase in housing or utilities. The property tax rates were supposed to readjust in 2020, but the county mayor said he wouldn't raise rates during the pandemic. I do expect that in 2024 when rates next adjust there will be about a 50% increase. Property taxes are pretty low though, so that's still only about $500/yr extra.

Looking at my overall non-discretionary spending, it was around $22k in 2020 and $28k in 2021. But I replaced the HVAC (~$5k) and had a major vet bill (~2.5k) in 2021. Take those two items away and core expenses were actually a little lower at $20.5k in 2021. I've budgeted considerably more for 2022, but then I do that every year. It will be interesting to see where my spending actually ends up this year.
jackrabbit14
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Re: How has inflation changed your expense/spending strategy?

Post by jackrabbit14 »

Not too many changes, but will keep our older cars for a while more.

Oh, and noticed the price of beef going up a while ago, so bought a side of beef.
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ray.james
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Re: How has inflation changed your expense/spending strategy?

Post by ray.james »

Wheat prices are through the roof. We are stocking some of the pastas, flour mixes that we use frequently.

Indonesia banned palm oil exports. I think more is yet to come. Cooking-oil stores reasonable well. May be another item to stock up. Our main worry is export bans rather than just price increases.
Last edited by ray.james on Fri Apr 29, 2022 12:21 pm, edited 1 time in total.
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graspau
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Re: How has inflation changed your expense/spending strategy?

Post by graspau »

Not really a sacrifice, since I like it, but I moved from omelettes (Just Egg product) to just old fashioned oatmeal with some cinnamon. Also reduced lunch costs and usually make some whole grain pasta with no sugar added sauce. Rest of the family no real changes in food. We have 16 and 12 year old 4 runners and plan to keep them for 3 more years minimum.
stoptothink
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Re: How has inflation changed your expense/spending strategy?

Post by stoptothink »

graspau wrote: Tue Apr 26, 2022 5:22 pm Not really a sacrifice, since I like it, but I moved from omelettes (Just Egg product) to just old fashioned oatmeal with some cinnamon. Also reduced lunch costs and usually make some whole grain pasta with no sugar added sauce. Rest of the family no real changes in food. We have 16 and 12 year old 4 runners and plan to keep them for 3 more years minimum.
Until about a year ago eggs remained within a small price range ($3.99 - $4.29 for 5 dozen medium) at our local grocer for the past 5yrs...as of last Friday that container is now $13.69 :oops:
jmw
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Re: How has inflation changed your expense/spending strategy?

Post by jmw »

Not buying a car unless both my daily driver and my spare vehicle dies. I will stay far away from brand new and any used cars up to 0-5 years old. Almost any repair on my junker cars is a reasonable choice versus replacement.

I only buy loss leader meats and plan ahead by reviewing the ads for the following week to decide whether to stock up this week or hold off until the new week.

I eat a lot more eggs nowadays even at $2-something a dozen. California eggs cost a lot more than eggs from other parts of the country.

Eating out less at every price point including "cheap" fast food.

I no longer make a special short trip solely to buy the cheapest gas. I have to link it with another trip.
remomnyc
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Re: How has inflation changed your expense/spending strategy?

Post by remomnyc »

Sometimes, I don't buy things when the price spikes, e.g. my individual pack potato chips are $40 instead of $20 or my pickles are $10 instead of $5, but those are more supply side issues. I do wince when I go grocery shopping, but I haven't changed my spending other than to pass up items when prices spike temporarily. Take-out and restaurants are WAY more expensive, but we don't order in or go out any more or less than pre-Covid. As others have noted, inflation is meaningless compared to market gains in recent years. It does make my appreciate the historically low fixed rate on our 30-year mortgage.
graspau
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Re: How has inflation changed your expense/spending strategy?

Post by graspau »

stoptothink wrote: Tue Apr 26, 2022 7:23 pm
graspau wrote: Tue Apr 26, 2022 5:22 pm Not really a sacrifice, since I like it, but I moved from omelettes (Just Egg product) to just old fashioned oatmeal with some cinnamon. Also reduced lunch costs and usually make some whole grain pasta with no sugar added sauce. Rest of the family no real changes in food. We have 16 and 12 year old 4 runners and plan to keep them for 3 more years minimum.
Until about a year ago eggs remained within a small price range ($3.99 - $4.29 for 5 dozen medium) at our local grocer for the past 5yrs...as of last Friday that container is now $13.69 :oops:
Wow. Just Egg plant based product is in a range of $3.99 to $4.99 for a small bottle (12oz). Usually takes about 6-8oz to make a nice veggie omelet. Way too expensive when I think about it.
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willthrill81
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Re: How has inflation changed your expense/spending strategy?

Post by willthrill81 »

burritoLover wrote: Tue Nov 16, 2021 10:35 am
willthrill81 wrote: Tue Nov 16, 2021 10:28 am
burritoLover wrote: Tue Nov 16, 2021 10:24 am When they say this is the largest inflation spike in 30 years, you might want to see what happened 30 years ago. You could have had a "sky-is-falling-I-have-to-milk-my-own-cows" fear then too.
True, but 10 year Treasuries were yielding 8-9% in 1990. So even with the spike in inflation back then, holders of 10 year Treasuries were still getting positive real returns. Right now, the spread between 10 year Treasury yields and inflation is about -4.5%.

Folks can argue all day about whether an inflation spike will hurt stocks or not, but there's no disputing that unexpected inflation is bad for nominal bonds, especially if it's significant and lasting. This inflation is certainly significant, but no one knows yet if it will be lasting.
People keep claiming it is here stay after 1 year? There was basically no inflation last year. Hardly a trend.
Inflation doesn't seem to be going anywhere but up. Seems like a trend to me.
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homebuyer6426
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Re: How has inflation changed your expense/spending strategy?

Post by homebuyer6426 »

More dry goods in the diet like lentils and pasta. Increasing the calories of the foods by using more oil.

Bought most of the wood I would need for my shed build before the prices went up all the way.

Switched the car from ethanol-free to e10.

Cancelled unnecessary subscriptions.

Stopped doing online grocery shopping.

Buying cheaper meats like chicken, using tomato puree instead of tomato sauce when possible.

Trying to fix the riding lawnmower myself rather than going to a professional.

Weighting portfolio towards consumer staples.

Turned house thermostat down 2 degrees.

Turned off electric heater in the greenhouse earlier.

Spending more time in the garden in order to grow more food at home.

Left the tree that fell in the backyard alone.
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HMSVictory
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Re: How has inflation changed your expense/spending strategy?

Post by HMSVictory »

graspau wrote: Tue Apr 26, 2022 5:22 pm Not really a sacrifice, since I like it, but I moved from omelettes (Just Egg product) to just old fashioned oatmeal with some cinnamon. Also reduced lunch costs and usually make some whole grain pasta with no sugar added sauce. Rest of the family no real changes in food. We have 16 and 12 year old 4 runners and plan to keep them for 3 more years minimum.
My 4Runner is 10 years old and still feels new. Not surprised your 16 and 12 year old models are still going strong.
Stay the course!
atdharris
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Re: How has inflation changed your expense/spending strategy?

Post by atdharris »

I'm looking to buy more food items on sale these days. It's really tough to see the prices of things like chicken breasts go from $4.99 a year ago to $6.49 and climbing. The cost of produce has also jumped. I'm seeing berries for $5/pint when they used to be $3. Avocados once were on sale for $1.25 are now $2.49 each. The individual portions of salmon went from $5 to $6.99. I don't usually shop at discount places like Walmart, but perhaps I should start.

I'm also not buying as many things I don't "need." Whether it's clothes, household items, etc.
wander
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Re: How has inflation changed your expense/spending strategy?

Post by wander »

I cannot do anything about reducing the cost at a gas pump. It becomes the norm that $50 cannot buy much fuel. :D
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willthrill81
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Re: How has inflation changed your expense/spending strategy?

Post by willthrill81 »

wander wrote: Thu Apr 28, 2022 2:32 pm I cannot do anything about reducing the cost at a gas pump. It becomes the norm that $50 cannot buy much fuel. :D
I did our monthly fill-up this morning, and even with $1 off a gallon with a grocery store fuel credit discount, it was still $72. :(
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Tib
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Re: How has inflation changed your expense/spending strategy?

Post by Tib »

To reduce my steadily devaluing cash, I'm spending liberally on house maintenance deferred during the pandemic. But I'm more cautious than before about large optional expenses, such as trips to Europe.
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sergeant
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Re: How has inflation changed your expense/spending strategy?

Post by sergeant »

We are spending like crazy. All new furniture for our new home. 80k in home improvements so far, probably have another 50k to go. Going to buy wife a new car to replace her 2008 Toyota Rav sometime this year. Eating out more often to discover the area we just moved to. None of these expenditures were prompted by inflation.
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SlowMovingInvestor
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Re: How has inflation changed your expense/spending strategy?

Post by SlowMovingInvestor »

Honestly, I've experienced very little inflation except at the gas pump.

And one step I've taken there is to use Google Map's suggested gas efficient routes when the time difference between fastest route and most efficient is less than 10-15% or so (assuming I'm not in a hurry, that it's not a very long drive etc.). Google Maps gives distance difference between both routes, and one can roughly estimate how much it saves in gas to take the slower but more efficient route based on mileage difference and one's own knowledge of car efficiency.

Note that the efficient route typically is efficient for reasons that go beyond pure mileage (less turns, less up/down etc.), so the estimated saving based on mileage only is probably an underestimate.
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Aslan18
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Re: How has inflation changed your expense/spending strategy?

Post by Aslan18 »

Major metro Mid-Atlantic state resident. My local chain store: cat litter has increased $2, Weiss beer $3 increase, certain brands of canned cat food not readily available. Don't purchase but cookies are outrageous. Premium saltines/oyster crackers are outrageous. There was a recent "run" on dry pasta. Coffee is also wiped out consistently at my store. No big change in milk or eggs. I will buy meat, chilean sea bass, roasts and put in freezer. I buy laundry, cleaning and paper supplies in advance; haven't seen an increase (that was foisted on us in 2019-2020!)

Did my shopping at Walmart when I was in area for another reason. Happy with prices.

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ray.james
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Re: How has inflation changed your expense/spending strategy?

Post by ray.james »

Chicken breasts $5.5 per pound. Shrimp 7.5 per pound. I am gonna eat all the shrimp I can get!
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lws
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Re: How has inflation changed your expense/spending strategy?

Post by lws »

It has not changed my spending. I spend mostly on gasoline and groceries.
I lived through worst inflation than this though. I came up during the 70s & 80s.
Life is good.
Circe
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Re: How has inflation changed your expense/spending strategy?

Post by Circe »

I mostly buy the same things, less shellfish, and Wegmans seems to have eliminated some brands in favor of their store brands. It's just a shock every time lately at the cash register when I have $50 worth of groceries and the bill is $100!
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Re: How has inflation changed your expense/spending strategy?

Post by Parkinglotracer »

I stopped ordering an ice tea with dinner or a coffee with breakfast as I always felt it was a rip off with tip like $3. I am saving all kinds of money.
dunk1234
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Re: How has inflation changed your expense/spending strategy?

Post by dunk1234 »

Stoic9 wrote: Thu Nov 18, 2021 8:42 am
mrjohnanderson007 wrote: Wed Nov 17, 2021 4:43 am Nope. As a minimalist that enjoys the outdoors and reading it makes no difference to me. The extra expense is negligible.
Ha excellent. Before we became minimalist in the early 90's I use to drop $50-75 a weekend at a bookstore. Now I spend a couple days a week at the library. With their App I can order any book (statewide system), they text when its ready (even if I'm out hiking or kayaking). No more clutter of books I'd never read again...or if I do their at the library. Library is an easy walk, I pass 3 gas stations on the way....every day the price changes up!
hundreds of dollars/mo at the library yest still: i use to...and their/there/they're...how??
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Re: How has inflation changed your expense/spending strategy?

Post by WhiteMaxima »

Spend now or spend more for less later. Do remodeling and buy things that might cost more now. Lock in college tuition credit.
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Re: How has inflation changed your expense/spending strategy?

Post by jgalt133 »

Somewhat ironically, I have switched to using Instacart because of inflation. I used to shop at my local grocery stores, but because I live in a HCOL area the neighborhood stores have gotten pretty expensive (more so than Whole Foods). The trigger for me was when I saw that ground turkey was $12 per pound at my local store. That was outrageous. Through Instacart I have access to Costco (through my Costco membership + Instacart Express) and a few other cheaper grocery stores. Turkey, after delivery + tip, etc. was only $5 per pound. It's not just turkey, I actually save money even with the Instacart markup. Yes, I'd save even more money by driving out to the stores and shopping myself, but time is pretty tight these days. As my kids get older and want to do their own thing, I will have time to do these things again.
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Re: How has inflation changed your expense/spending strategy?

Post by jebmke »

jgalt133 wrote: Mon May 23, 2022 12:15 pm Somewhat ironically, I have switched to using Instacart because of inflation. I used to shop at my local grocery stores, but because I live in a HCOL area the neighborhood stores have gotten pretty expensive (more so than Whole Foods). The trigger for me was when I saw that ground turkey was $12 per pound at my local store. That was outrageous. Through Instacart I have access to Costco (through my Costco membership + Instacart Express) and a few other cheaper grocery stores. Turkey, after delivery + tip, etc. was only $5 per pound. It's not just turkey, I actually save money even with the Instacart markup. Yes, I'd save even more money by driving out to the stores and shopping myself, but time is pretty tight these days. As my kids get older and want to do their own thing, I will have time to do these things again.
When they get old enough you can send THEM out to do some of this shopping, right? :P
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Re: How has inflation changed your expense/spending strategy?

Post by jgalt133 »

jebmke wrote: Mon May 23, 2022 12:29 pm
jgalt133 wrote: Mon May 23, 2022 12:15 pm Somewhat ironically, I have switched to using Instacart because of inflation. I used to shop at my local grocery stores, but because I live in a HCOL area the neighborhood stores have gotten pretty expensive (more so than Whole Foods). The trigger for me was when I saw that ground turkey was $12 per pound at my local store. That was outrageous. Through Instacart I have access to Costco (through my Costco membership + Instacart Express) and a few other cheaper grocery stores. Turkey, after delivery + tip, etc. was only $5 per pound. It's not just turkey, I actually save money even with the Instacart markup. Yes, I'd save even more money by driving out to the stores and shopping myself, but time is pretty tight these days. As my kids get older and want to do their own thing, I will have time to do these things again.
When they get old enough you can send THEM out to do some of this shopping, right? :P
True! Once we decided conditions (related to the pandemic) had subsided to the point it was OK for my youngest to start going back into stores, he was so ecstatic. It was like an adventure for him. He will jump at any opportunity he can to go shopping these days, although I am sure the novelty will wear off.
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ray.james
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Re: How has inflation changed your expense/spending strategy?

Post by ray.james »

The price difference between Costco and local grocery store is widening.
Milk local store 1 gallon went from 3.69 to 6.29. Costco per gallon went from 2.19 to 3.29.
Eggs too - 18 eggs local store 5.69. Costco - 4.29.

In my recent experience, Walmart is the closest in prices to Costco. For produce Asian/Indian stores are closest. The difference in bills between Costco and local grocery like Safeway is nearly 50% for a week of groceries! It used to be ~25%.
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Re: How has inflation changed your expense/spending strategy?

Post by mountainair »

A long commute to work makes it tough to avoid these high gas prices, but I am trying to limit weekend driving. Plus I need to stretch the car out as long as possible due to the current market conditions for new and used vehicles.

I still plan on taking some sort of vacation this summer because I am getting stir crazy after more than five years of not traveling anywhere (a planned vacation in 2020 was cancelled due to the pandemic). That said, at this point I would accept a day or two at the beach a couple hours away if I can't do a bigger trip.
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Re: How has inflation changed your expense/spending strategy?

Post by Mr. Rumples »

I am driving less. I need to cut out processed foods and this just gave me more reason.
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Re: How has inflation changed your expense/spending strategy?

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ray.james wrote: Tue May 24, 2022 11:31 am The price difference between Costco and local grocery store is widening.
Milk local store 1 gallon went from 3.69 to 6.29. Costco per gallon went from 2.19 to 3.29.
$6.29 for a gallon of milk?? The only time I've ever seen prices even close to that was in rural Hawai'i.
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22twain
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Re: How has inflation changed your expense/spending strategy?

Post by 22twain »

willthrill81 wrote: Mon May 30, 2022 8:46 pm
ray.james wrote: Tue May 24, 2022 11:31 am The price difference between Costco and local grocery store is widening.
Milk local store 1 gallon went from 3.69 to 6.29. Costco per gallon went from 2.19 to 3.29.
$6.29 for a gallon of milk?? The only time I've ever seen prices even close to that was in rural Hawai'i.
On Saturday, my wife bought milk at the local Food Lion in a small town in the South. $2.81/gal for 2% (reduced from $4.69) and $3.29/gal for fat-free.
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Re: How has inflation changed your expense/spending strategy?

Post by toomanysidehustles »

I ride my bike the .8 miles to my workshop (work) now a lot more. I've cut most of the fancy pants craft beer and drink more PBR. 30 pack for $20.00 still! Maybe it is the summer and heat but nothing beats a cold PBR or Coors. We own a boat and three vehicles which require premium fuel so I drove to Costco (pulling the boat) Sunday morning at 7am (no lines) and fueled both, as well as 8 of our moto cans. 80 gallons of premium, I saved over $50.00 going to the normal stations or the gas station on the water. https://www.amazon.com/VP-Racing-Fuels- ... 89901&th=1
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ray.james
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Re: How has inflation changed your expense/spending strategy?

Post by ray.james »

22twain wrote: Tue May 31, 2022 2:36 am
willthrill81 wrote: Mon May 30, 2022 8:46 pm
ray.james wrote: Tue May 24, 2022 11:31 am The price difference between Costco and local grocery store is widening.
Milk local store 1 gallon went from 3.69 to 6.29. Costco per gallon went from 2.19 to 3.29.
$6.29 for a gallon of milk?? The only time I've ever seen prices even close to that was in rural Hawai'i.
On Saturday, my wife bought milk at the local Food Lion in a small town in the South. $2.81/gal for 2% (reduced from $4.69) and $3.29/gal for fat-free.
This week safeway price it at 5.59/gal.
https://www.safeway.com/shop/product-de ... 10127.html
(If you want to enter zip - 94010, but the entire peninsula of the bay area has the same price.)

I am yet to head to Costco but I think it will be cheaper at $3- $3.5

For chicken thighs, https://www.safeway.com/shop/product-de ... 31635.html ($11.24 for 1.25lb) , this is antibiotic free but regular chicken(not organic)
Safeways own brand value packs - 3lbs for $15 (these are usually gone if you go on sunday evening)
https://www.safeway.com/shop/product-de ... 31030.html

I am thankful I bought and froze good quantity of chicken yesterday at $1.29 per pound thanks to another member for pointing to an ad from different store.
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ray.james
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Re: How has inflation changed your expense/spending strategy?

Post by ray.james »

willthrill81 wrote: Mon May 30, 2022 8:46 pm
ray.james wrote: Tue May 24, 2022 11:31 am The price difference between Costco and local grocery store is widening.
Milk local store 1 gallon went from 3.69 to 6.29. Costco per gallon went from 2.19 to 3.29.
$6.29 for a gallon of milk?? The only time I've ever seen prices even close to that was in rural Hawai'i.
I do fear what the price might be now!
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Johnny_Excitement
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Re: How has inflation changed your expense/spending strategy?

Post by Johnny_Excitement »

I live in California where cost of living is expensive compared to most other states. I make a very comfortable middle-class salary and I'm still feeling the inflation.

My biggest expenses are gasoline and food. I need both to survive.

To cut down on gasoline expenses, I only drive a car when I absolutely need to and have been riding my motorcycle (55+ mpg!) a lot more these days.

To cut down on food expenses, I'm eating at home a LOT more these days and food shopping at Costco and the nearby Grocery Outlet. Also, I only eat out once per week (usually a diner on a Saturday or Sunday morning). Most diners here charge around $20 (sans tip) for a 3-egg omelette meal with coffee. That's $24 with the tip. I may stop doing that since I can make the same exact meal at home for less than $5.
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