Saturday, March 20, 2021

Living the Pantry Lifestyle - Preparing for inflation?

There is only time for a short pantry post today but it is about an important subject. 

I don't know about you but I'm seeing articles about the probability of high inflation everywhere.  Last night, I was watching a show about financial matters on PBS that has been on for as long as I can remember.  I am not an investor but their conversations can be interesting.

The subject of inflation came up and while the guest said he did not believe we would see 1970s era 14% inflation, it is inevitable that we will see prices rise. Especially with the government printing money like crazy.  

Of course, with the pipeline now shut down, the price of gas has skyrocketed already. I read an article last week about how the much higher price of gas is going to increase prices due to the cost truckers need to pay for their fuel once again.  

That is on top of food inflation already caused by various weather related disasters. The article said trucking companies are already having trouble hiring drivers since the cost of gas has risen, each price increase cuts into their profit margin.

I had to pick up a prescription this morning so I stopped by the store to buy cashews my husband requested.  He was shocked that they are now almost $10.00 for the one pound bag.  I had no idea he was paying less than $7.00 the last time he purchased cashews.

We have already seen inflation with the need to have our deck replaced.  The price of a new deck doubled in our area this last year due to a sharp increase in the price of lumber.  (I wish the termite damage had shown itself earlier!)  So, I'm thinking instead of having the deck torn down and putting in a patio instead.  There usually are options.

If one or two experts are talking about a subject, I think they are possibly correct.  When every expert is predicting something, it is a probability and I am paying attention.  It is time to prioritize expenditures now, especially items like fixing the deck and getting the re-plumbing done in the garage.

I'm going to do some much smaller things to hopefully spend less money, too.  My winter coat hasn't been dry cleaned in a few years so it is going to be put in the cleaners as soon as we stop having temperatures below freezing.  I want to spray paint the old wicker rocking chair so I'm going to shop for cans of spray paint in a couple of weeks.

I already replaced my wellies when they went on sale.  Putting duct tape on the cracks made them last two more years.  I'm going to make a list of any small items that need to be replaced now.  For instance, I need a new can opener.  I store my old (but still useful) can openers with some emergency supplies.  That is essential if one is stocking canned goods as part of a deep pantry.

So, I'm wondering... are you seeing any inflation where you live?


lynneinMN said...

Gas prices are up. Our grocery went thru a "remodel" a few months back, and I noticed the package sizes got smaller (i.e. cereal boxes), and prices increased. My favorite chocolate chips (Guittard) have increased from $2.99 to $4.69 a bag over the last year. I have been stocking up on the basics for years now, and am thankful. Thank you for being an inspiration to do so! LynneinMN

Anonymous said...

Thanks for this reminder...I need to check things here to see what
needs replaced or repaired. Prices are increasing. Blessings, Sharon D

Traveling Oltmans said...

I have heard the same commentary about inflation on the financial radio channels and it makes sense. Gas here in Arizona went from $2 to $3.25 in the past few months. Housing prices are up 20% but that is due to migration out of High tax states. I have noticed that grocery weekly sale prices are much higher than before Covid...butter on sale was $1 a pound, now we are lucky to see special sales at $2. What I have noticed much more in the past month or two (we are eating out occasionally now that we have our shots) is the crazy price of restaurant food. Today we went for a drive and stopped in at a local restaurant...two coffees and two slices of pie (no ice cream) was $16. When my husband said that, I asked to see the bill. Luckily we eat out very rarely but I don’t know how people can afford that!

Anonymous said...

If it makes you feel any better, there have been copious amounts of articles published in the business papers about the sharp rise in lumber prices since last summer. It was primarily because of labor shortages owing to pandemic restrictions (shutdowns, distancing requirements, etc affecting mill operations) and then, greatly, that the powers that be woefully underestimated the future demand for lumber last year, so they set up to underproduce, thinking with the job losses and pandmic that demand for homebuilding would collapse. Instead, everyone decided to replace their decks and do all their projects, and the housing demand went up for the people who could afford to relocate and wished to, for family, for remote work, for a first house while rates were so low, for a second house while rates were so low, etc.

Simple supply and demand. Not money printing - not for lumber anyway. Lumber pricing has been studied and dissected to death, because it is adding an enormous increase to the cost of new home construction, and everyone gets nervous when the housing market is affected. Some people would have you believe the housing construction industry & (re)sale market for homes is the entire economy by itself.

Always a good idea to think ahead, though. We'd all like to be certain enough to laugh at the future to come, wouldn't we?

And please, don't forget to remind people to rotate their pantry stock! It does no good to build up a big pantry and then let it sit and expire while buying and using fresher supplies. I see a lot of people talking about pantries and playing at prepping and the basics, like rotating stock, doesn't get highlighted enough. Most people just seem to want to talk about shopping and show off thier newest gadgets or "food hauls".

Suzan said...

Our food costs have risen. But our covid experience was preceded by drought, fire and then flood. So there is less as it often is in Australia. Our pharmacy costs are regulated by the government. Things that are under their scheme can cost an awful lot. Petrol dropped in price and seems to have stabilised between $1.20 and $1.30 per litre. So somewhere around 95 cents to US $1.01 for a US gallon. Forgive me if my conversions are out.

Margie from Toronto said...

I don't drive so can't comment on the price of gas - but I'm sure it will rise by the Summer as more people are vaccinated and decide to hit the road for a bit of a vacation - provincial park camping spots are already booked solid!

The only spending I've been doing is for real necessities - good quality shoes & my very expensive (but very long-lasting) bras and a few things for my apt. I am working on losing my Covid weight gain before the Summer so that clothes fit properly as I have no intention of buying anything new aside from a couple of pairs of shoes. I expect to see a rise in prices as not much is made here and supply chains are still not back to normal. My Winter clothes will be washed, a few dry-cleaned and put away carefully for next year.

Food has gone up in price noticeably and news reports have told us that the average cost of groceries for a family of 4 could be up by about $700 this year. I am being very careful about not wasting food, I'm exercising better portion control and I'm looking up recipes to try different and cheaper cuts of meat. Blogs like yours are very, very helpful.

mdoe37 said...

We are in the process of rehabbing a cabin in the UP of Michigan. The garage needed some attention with the roof sagging due to somewhat inferior construction "back in the day". An engineered beam was added along with other supports. The new wiring and propane is run...and lights! The insulation is up as well. But right at the time we were going to purchase the OSB (chip board) to finish the walls it went from....

$15 to $40 a sheet. It'll wait. It'll have to wait.

Anonymous said...

This past year has been a learning experience for so many. Things we never expected to be low in stores ..or even out. Some like the big yeast packages we used to see at the club stores are still non existent here. I mean who knew bread baking would hit a high! :) But that is good. People that never really thought much about it realized they too needed to have at least some stock of food in their home. I congratulate those who stepped up and took charge of their own families needs. Because some of us have always kept a pantry we could step back and let those without get their needs taken care of. Was this a rehearsal? Who knows. I hope the lessons learned stay in people's minds and they expand on learning basic skills. Also get to know their neighbors and extended families better and help each other. hopefully also many realized the emptiness in their lives and turned to god to fill it.

Yes prices have gone up. Being married like you so many years [us 51] we have seen prices go up on this and down on that item many times. Hopefully this will be how some things still go. With the printed money and all that has happened I can imagine inflation is in the air too. It will not just be supply and demand. As Amy Decysisn said, no matter how frugal you think you are your can always find more ways to tighten when you need to. I hope to keep finding ways to waste even less and help others.

Yes I do believe this could all be leading to Jesus's return. No one knows when but we all should stay ready because we do not know the minute. But it will happen. With so much going on in the world anymore we must not forget why we are here and where we want to go. :) Brenda as always, you are a true inspiration. Sarah

Mae said...

It seems like when I grocery shop I am buying less and less stuff but still spending the same amount or more each week.