It is kind of like seeing an old friend that you have not seen for a few years. Sometimes they will look drastically different, maybe they gained weight, grew a beard, or even had plastic surgery.
Imagine if you were able to transport yourself back 8 years and come back today. Would you perceive prices differently as they are now? Lets find out
Cost of gasoline in 1999: 1.33 per gallon (12 month average sampled 4 times per month)
2007: 2.95 per gallon
That is a 121% increase in the cost of gasoline over an 8 year period
Well, lets be honest. We all know that crude oil prices have skyrocketed because of increasing demand. I'm sure that prices for other things have not gone up. After all, the fed keeps telling us that inflation is under control.
Product | 1999 Price | Price Today | % Increase |
Electricity per 500 KWH | 45.375 | 61.457 | 35.44 |
White Bread | 0.899 | 1.212 | 34.81 |
Eggs Grade A | 0.92 | 1.825 | 98.36 |
Orange juice | 1.822 | 2.59 | 42.15 |
It is comforting to know that according to the federal reserve, people do not need to eat or use energy. Don't you feel better now that you moved that newspaper away from your nose :) ?
No comments:
Post a Comment