JEFF CAPLAN

Jeff Caplan’s Minute of News: Inflation deflation

Mar 10, 2022, 4:40 PM | Updated: Mar 11, 2022, 2:17 pm
Inflation rates are up, and it might affect things at home....
Inflation rates are up and it might start affecting things at home. Photo: Adobe Stock

Editor’s note: This is an editorial piece. An editorial, like a news article, is based on fact but also shares opinions. The opinions expressed here are solely those of the author and are not associated with our newsroom.

SALT LAKE CITY— I have a rule against doing Minutes of News that involve math. It’s hard to follow, and numbers are boring, but I’m going to make an exception after the new inflation numbers. 

The new year-to-year inflation rate is approaching 8 percent and that’s before the price of gas blasted off two weeks ago.

What does an 8 percent inflation rate mean?

First, a thousand dollar monthly grocery bill will cost you $1080 a year from now. If this keeps going for five years, those same groceries will cost you $1469 in 2027.

And if you make $50 thousand a year with an 8 percent wage increase each year, in 2027 you’ll be earning $73,466. An extra 23 grand.

Except it never seems to work that way. Inflation raises wages but over the longer-term prices tend to rise more and everyday folks find their standard of living going down.

Are you still following this?

Here’s what inflation will look like at home: Hamburger Helper shows up more at dinnertime. You’ll have to think before you drive. The McDonald’s dollar meal starts looking better and better— but it’ll probably be a two dollar meal soon enough.

Is there anything positive to report? I googled “items that are falling in price” — and I found three things. Only three.

Girls’ clothing was down 4 percent this past year. Men’s pants. And cosmetics.

So guys who wear the pants in the family, have daughters, and spend a lot of time at KISS concerts are smiling but for the rest of us, it’s kind of bleak.

Other Minutes of News:

Listen to Jeff Caplan’s Afternoon News every weekday from 3 to 7 p.m. for more of his “My Minute of News.” And check out the podcast below.

Today’s Top Stories

Jeff Caplan

Personal assistant for the wealthy....
Jeff Caplan

Jeff Caplan’s Minute of News: Needed, personal assistant for the rich

A personal assistant for the rich must be flexible, and available. They'll be writing a proposal one minute, and stocking the pantry the next.
1 day ago
students stand on one leg during a yoga class for stress relief...
Jeff Caplan

Jeff Caplan: How to predict if you’re going to die

A new test could tell you about your life expectancy. If you're over 50 years old, you'll want to try it. All you need is your leg.
2 months ago
beat inflation...
Jeff Caplan

Jeff Caplan: How to beat inflation — potty train your cat (seriously)

Everyone's minds are on how to best beat inflation. And if you're trying to be super frugal, there's a good chance you can.
2 months ago
Utah spelling...
Jeff Caplan

Jeff Caplan’s Minute of News: Utah’s most misspelled word

A Google trends review shows Utah's most misspelled word is a lot tougher than most states. Especially Texas.
2 months ago
mona lisa exhibit after the cake was thrown...
Jeff Caplan

Jeff Caplan’s Minute of News: Pie in the face

A protester smeared the Mona Lisa with cake in protest of climate change last week. Another page in the Mona Lisa's interesting story.
2 months ago
Walmart profits...
Jeff Caplan

Jeff Caplan’s Minute of News: As Walmart profits go down, so do ours

We're still buying stuff from Walmart, just not the name brands. And that's squeezing Walmart profits, which squeezes our 401K.
3 months ago

Sponsored Articles

Jeff Caplan’s Minute of News: Inflation deflation