I went into Lowes to buys some 2x4's yesterday and I about hit the roof. The price was $5.98 for a 2x4. Not even a year ago it was half that.
I've been noticing the prices of many things increasing since the beginning of 2020, food, gas, everything you need daily. The 2x4's really shocked me though. They are your standard building material. For the price to double in less than a year is insane. The 100% price jump hasn't applied to other building materials like drywall, electrical supplies, paint, but some materials have gone up in price.
Gas is also on the rise. In Southern California it has gone up $0.50 a gallon since November. By Memorial Day weekend in May it will easily be over $4.00 a gallon. I'm not sure if it's the Biden Admin or the Federal Money Printer causing these increases, but I do know it's just getting started.
The challenge is working these price increases into your businesses. I've already run into customers who backed out of projects because they don't want to pay us based on the additional costs we have to add into projects. This will get worse too. I'm extremely worried about the future of the American economy and my businesses.
What price spikes have you noticed where you are? Any doubling in price?
I think it's happening world-wide. These bums should have let the crash happen long ago but they were so scared of it that they kept things going too long. Now if all the markets actually do crash we are back to the Great Depression and if the powers that be keep not allowing a crash, we are into hyper-inflation.
Thank god for crypto.
Ya, well an't let the affluent, elite lose any money.
I hadn't noticed any big price hikes in Japan. One thing nice about Japan is vegetables and raw foods are really cheap compared to the US. I can't imagine Japan can hold off inflation much longer though.
It's crazy, pretty much all fast food here is $10 for a meal. I can go to Matusya, or any other Japan fast food and still get meals for around $5-$6. Add in Japanese fast food is much better quality than US.
Yup! For the same amount of money, I found get a proper lunch serving any more!! It’s time to be on a diet!! LoL
That is usually the first way they handle price increases, reduce the size of what you are getting for the same price. The actual price hike will soon follow so you will be paying more and getting less.