Price Shock II: M&Ms Pack hits $2.29!
In January of 2011, I published a blog about price inflation using my personal index, which is the package of M&Ms. I was shocked that the cost had reached $0.99, especially remembering having to pay $0.05 when I was a kid.
Eight years later in March of 2019, I checked out the purchase at my local grocery store and was shocked again to see that it has now risen to $2.29 for approximately the same size package (although I'm not being overly scientific about this).
So I conclude that it is time to update my chart. I'll allow the reader to reach the obvious conclusion about the value of the dollar in recent years.
For those of you who enjoy math, that's well over a doubling of the price in ten years. How can it be that official price inflation numbers would indicate the price should be more like $1.50?
Perhaps this uptick is a very recent phenomenon, and the chart doesn't yet have the latest figures in its database. But whatever the reason is, I find it intriguing.
Eight years later in March of 2019, I checked out the purchase at my local grocery store and was shocked again to see that it has now risen to $2.29 for approximately the same size package (although I'm not being overly scientific about this).
So I conclude that it is time to update my chart. I'll allow the reader to reach the obvious conclusion about the value of the dollar in recent years.
For those of you who enjoy math, that's well over a doubling of the price in ten years. How can it be that official price inflation numbers would indicate the price should be more like $1.50?
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| From AIER.org Cost-of-Living Calculator, found here |
Perhaps this uptick is a very recent phenomenon, and the chart doesn't yet have the latest figures in its database. But whatever the reason is, I find it intriguing.
Labels: devaluation, dollar, inflation
posted by Katy Delay at 4:32 PM
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