I’ve been seeing a lot of news reports lately about inflation cooling down lately. For example, yesterday I saw that car prices are finally getting back to normal, and used car prices even dropped slightly year over year. So I was wondering: Do you see any signs of inflation easing up in your personal budget?
Personally, I’ve seen my costs go up quite a bit in 2023 — but I think I got off easy in 2021 and 2022 compared to a lot of people. After a couple years of minor rent increases, my rent recently went up by $160 because my landlord’s property insurance went up. (I’m in Florida, about an hour and a half north of where Ian hit, so insurance rates are going crazy.) My health insurance changed, so I’m now paying more out of pocket.
But I haven’t been nearly as hard-hit as a lot of people by rising grocery prices, since I don’t have a family to feed. And I don’t tend to drive that much, so I don’t notice right away when gas prices rise or fall.
What does inflation look like in your personal budget? How have you coped these last few years with rising prices?
I’m still feeling some chills. My electricity bill is over the top (Houston). Some food prices are steadying, but gasoline has gone up a bit. Fortunately, I don’t have to commute, but I spent about $2400 for car repairs last month, so that was a big hit. Between Lyft rides, the bus, and walking in the heat, getting my car fixed was a priority. My car is 18 years old. I don’t even want to think about buying a new car. BTW, I’m doing a mystery shop for a $43,000 car tomorrow. Now, that’s insane. Enough about me . I’m enjoying the Dear Penny letters now.
Well, the price of eggs is down. I’m truly thankful for that! In our area gas prices fluctuate so much. Within the last two weeks it’s gone from 2.99 to 3.19 per gallon. Basically I’ve just been making adjustments where ever I can.
Even though the rise may have stopped, I haven’t noticed much cooling off. The many items that increased in price at the grocery store haven’t dropped in price any. Gas is still around $4.50 here. I feel like others had to increase their prices as well as inflation trickled through other industries. I heard about used car sales normalizing as well but rents are still high here as are housing prices and land.
I have been reading the same about the cool-off and some prices getting back to normal. I don’t know where the people live that experiencing this cool-off. Zero prices have gone down. Many have stayed the same. The heat is causing very high electric bills, which went up by kwh as well. Taxes are up. Thefts and vandalism are up. Medical, don’t get me started on medical. I cannot afford for anyone to get sick enough to go to the doctor or hospital. Gas goes up and down by pennies. Homeowners’ insurance went way up for those of us who could keep it. Car insurance went up again this year with no issues or accidents. I am so over these prices, but do not believe we will be seeing them drop back to where they were.
Eggs are down a bit. Other things stable. Gas is still high. Don’t really see any changes in inflation easing. How we’re coping. Eating out less infrequently (every couple months). Buying very little red meat. Hitting the discount bins at the grocery store. More consistantly buying loss leaders. Baking everything from scratch. Coffee still at home. Not buying boxed cereals. Homemade yoghurt. More beans. Keeping the thermostat higher in the summer, keeping the blinds closed, using fans more. Trying to unplug devices when not in use. Built a new low tech watering system in the vegetable patch that uses less water. Even though the garden is small, eating from it as we can. Waiting for clothes to wear out and not replacing everything.
The only thing that I have seen is a slight stabilization in prices in items most frequently brought which helps somewhat in predicting the cost hit to my budget. I still hold fast to not impulse buying items not on my list to buy and I make sure that the price I pay is the same price as noted on the shelf by matching the item to the tag correctly—I don’t usually have a problem with misplaced items in front of wrong tags because I don’t in person shop at busy times so the store is usually in good shape. There are more items now offered with sale prices if you make yourself aware based on the season. My key grocery list gives me leeway to substitute items. My only complaint is the sizing change that I have to watch out for—in dry goods items—for example—Pasta I prefer 16oz packages over 12oz packages which just means I choose a different shape to accommodate my needs—
Inflation is still hurting my household financially, with food, and utilities.
We are in need of another car and can not afford it our homeowner’s insurance is hard to pay, and the property taxes are hard to pay.
Inflation has made it’s home here in my own home.
I’m still paying more money than I ever have for general living expenses. Granted, my family is growing so that adds to that some, but overall everything just seems to cost more and people aren’t just lowering prices everywhere.
Yes, everything is still too high- from real estate and utilities to groceries and gas. I know it will not return to pre-pandemic levels, but I certainly would appreciate it decreasing by at least half. Groceries still shock me. I always shopped at Aldo, but now I also hit the discount places. We all changed our orders when eating out- drink water, order some a la carte, etc.
Still working on teaching my kids how to budget, and it is discouraging for my 18 year old to work full-time and not even be close to having his own place. (I remind him that is why he is learning a trade. Be patient.)
Health costs- yes, those are just unreal. I have a friend that is paying more than 800 a month for employer insurance for her and 1 child. She is taking home less at her FT job than she was earning PT at another.
So while I am thankful every day that we can weather this inflation, I keep a watchful eye on it all and prepare the best I can.
. I’m enjoying the Dear Penny letters now.
I’m truly thankful for that! In our area gas prices fluctuate so much. Within the last two weeks it’s gone from 2.99 to 3.19 per gallon. Basically I’ve just been making adjustments where ever I can.
