As costs rise at the cash register, your money becomes worth less and less. Inflation is rising for multiple reasons and you need to act quickly to beat it.
My wife came home from grocery shopping last week and informed me that prices are rising. I agreed and told her that food inflation was hitting 10 percent in some categories.
For the past few months, I’ve been warning you about inflation: Food inflation, fuel inflation, ammo inflation, and inflation because of shortages caused by supply chain problems. An article in the Wall Street Journal adds yet another cause of inflation: Chinese companies are raising their prices in part because of higher commodity and shipping costs.
If you are not seeing inflation in your grocery shopping, you will see in in goods made from China. Chances are, you will see it in both, and in many other goods and services as well.
Continue reading “Inflation on the Rise Across Multiple Segments”
The main stream media doesn’t cover it outside the financial pages, but inflation is coming. Here’s what it means to you and how preppers have a leg up when it comes to surviving inflation.
Inflation is closing in on us slowly but surely. Here are some examples from recent media coverage:
Let’s look at a fictional blue-collar worker we’ll call Mark. Mark worked all sorts of overtime in 2020, who paid a bonus at year-end, combined it with his family’s Stimulus checks, and by the time he got his tax refund, he was thrilled to see that he had $20,000 in the bank. He and his wife talk about investing it, but they know little about investing, and neither of them trust the ups and downs of the stock market. They decide to put their $20,000 in a money market account and hold on to it for a rainy day.
They are lucky to be in a credit union and can earn 0.5 percent interest. That means at the end of 2021, their savings have grown to $20,100. They just made an extra $100. Mark feels pretty good about that until early in 2022 he goes to Bass Pro Shops to pick up a box of 9mm shells and notices that the boat his buddy bought last year for $19,999 now costs $20,989. A year ago, he could have taken the money from his bank account and bought a new boat. Now he can’t afford to buy the boat. To make matters worse, the ammo he bought a couple years ago for $15 a box now costs $79 and they limit him to buying two boxes.
Continue reading “All About Inflation and How to Protect Yourself”
It’s been five weeks since we first noted the average online cost for key prepping items, so we check back in to see the results. They may surprise you.
We decided it was time to check in with our Prepper Shopping Basket Inflation Report to see if the prices of the 29 items, mostly food, that preppers would be likely to buy for their prepper pantry. For specifics on our methodology, see the methodology subhead, below.
All prices were checked online on the morning of Sunday, February 28, and compared to prices checked five weeks ago on Sunday, January 24.
Overall, the cost of our basket of goods (not counting fuel) was up from $74.49 to $74.94, or 45 cents, a net increase of 0.6 percent. While this does not sound like much, if we project the five-week increase over a 12 month period, we’d expects cost for our basket of goods to be up close to $80. Time will tell if this first period is representative of what the rest of the year holds.
Continue reading “Prepper Shopping Basket Inflation Report Shows Surprising Results”
We can all feel the pinch of inflation in our pocketbooks, but how can we measure it? The Prepper Shopping Basket Inflation Report will track inflation for goods preppers buy.
To track inflation and its impact on preppers, we have developed a price-tracking spreadsheet that we will use to track the cost of a basic shopping cart of goods a prepper might buy to prepare their prepper pantry. Based on this data, we will produce a report that reflects the changes in item cost and total shopping cart cost over time. The time period will vary based on the velocity of change. For example, if prices remain steady, we won’t need to update the report very often. If prices change frequently, we will produce the report more often.
The products chosen for the basket include traditional grocery items. These are consumables an include canned goods, dry goods, baking goods, and paper products. The list is based in part on the Pickled Prepper’s 30-Day Shopping List which is designed to help you buy a 30-day supply of foods with a shelf life of at least 18 months. Separately, we will be reporting on the average cost of a gallon of gasoline, diesel, propane and heating oil as reported by the EIA, the U.S. Energy Information Administration.
Continue reading “Introducing the Prepper Shopping Basket Inflation Report”