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Originally Posted by oil pan 4
Not runaway, just 20% to 30%, maybe 50% that is here to stay.
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No, it isn't great news. However, back in post #94 you said the Consumer Price Index was a lie (I assume you believe it is unreporting inflation). Then you said used car prices are up 30%. In actuality used cars (which are in the CPI) are up 40% so in fact the official number is higher than what you believe.
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Notice I didn't list electricity specifically.
But now that you mention it I'm in new mexico and the nm public regulatory commission has raised rates 7% next year is trying to increase rates by 14.4% next year. I say it's because all that "cheap wind and solar" they are adding to the grid. So it's coming.
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You said energy was up 50%, 100%. I pointed out two common ways people consume energy - gasoline and electricity.
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If someone unexpectedly has to rent a car for a week and it costs a $1,000 that's pretty big for at least half to 2/3 the population. I tried to rent a car this summer when my wifes car was in the body shop for hail dent repair and there were none to be had. So the insurance cut us a check for what they would have paid for a rental car for those 2 weeks. (That's the money we used to fix our old hyundai with a bad engine came from).
Then in early November I rented a car and it cost several hundred more dollars than I expected. Rental car prices are not back to normal.
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The first time I rented a car this year was in June. Cars were almost unavailable and they had about 10 on the lot. By July the lots were filling back up. In September I rented a full-size car in Kona, Hawaii for 5 days for $233.72 (the place where a few months earlier people were renting uHauls or paying hundreds a day). I rented a car in Charlotte, NC in November - completely normal experience. Rented a car last week in Philly - completely normal experience.
It seems your experience and mine have been different. That is why we have the CPI were prices are recorded all around the country and averaged. The problem is you don't believe the numbers unless they match your experience or what you expect them to be.