Inflation

AVERAGE_0GROUND_CHUCK-CHART

The Bureau of Labor Statistics average price of ground beef in January hit a record high of $4.23 a pound. A year ago in January 2014 a pound of ground beef averaged $3.46. Average price increase in one year by over 22%, but there is no inflation, right.

If you say it long enough I guess they hope people will start to believe it. Five years ago in January 2010, the average price of a pound of ground beef was $2.28. It has gone up almost 86% in five years.

Of course, since many entitlements are pegged to the inflation rate: military pay, Social Security payments, and many more. I received a 1.5% increase in my SS payment. That was worth an additional half a tank of gasoline. However, my costs of eating has certainly gone up much higher. This method allows for lower payments to those of use at the bottom of the scale and allows the Obama administration to siphon more money into grants to pay back his political donors.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s