Our Price Basket
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Our basket is representative of the goods and services we all use and buy, obviously different people spend different amounts and buy different types from what we use to calculate the basket, but overall, we believe the products provide an example of a typical cart that allows us to measure on a yearly basis. You can find below a more detailed list of what we included and the dates and locations prices gathered fromPrice Basket Consist of the following January 2020 Prices
Bread (Sara Lee White Bread) - $ 2.08 - Potatoes (Russet) - 78¢ cents per LB - Milk Prairie Farms - $4.12 - Bacon (Hormel 16 oz) - $4.98 - Dozen Eggs (Walmart Brand Regular) - $1.58 - Coke (24 pack can) - $7.68 - Water (12 pk Ice Mountain) - $2.48 - Tomatoes (LB Roma) - 88¢ - Butter (15 oz Can't Believe It's Not Butter) - $2.98 - Cornflakes (18 oz) - $3.28 - Pizza (Jacks Pepperoni) - $2.50 - Sugar (4 LB) - $1.74 - Flour (5 LB) - $1.22 - Ground Beef (LB Lean) - $5.24 - Tide Powder (5.93 LB) - $12.96 - Folgers Classic Roast (Sizes - 1 LB 14.5 OZ) - $6.96 - Green Grapes (LB) - $1.48 -
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Toilet Paper Rolls (Scott 4 pk) - $3.82 - Chicken Soup (Cream of Chicken Campbells 10.5 oz) - $1.48 - 1 Gallon of Gas $2.38Latest Inflation Update January 2020
We created this page to address two specific needs
1. Providing a comparison for earlier years
2. As a means of watching how prices and wages react to the effects of inflation as the world comes out of the recession.
As you can see from our table the overall basket of goods has changed significantly from 2008 to 2020 but currently still lower than when highest in 2012. %'s Below are approximations
Our Price Basket: There has been about a 32% increase from 2008 to 2020.
Healthcare: There has been about a 43% increase from 2008 to 2020.
United States Consumer Price Index (CPI) : There has been about a 16.63% increase from 2008 to 2020.
Wages: There has been about a 13% increase from 2008 to 2020.
Both our Price Basket and Healthcare Inflation show much higher % than the published United States Consumer Price Index (CPI) figures and we believe that it reflects how the middle and working classes have been effected by real world prices and wage stagnation during the past few years.
Our basket is representative of the goods and services we all use and buy, obviously different people spend different amounts and buy different types from what we use to calculate the basket, but overall, we believe the products provide a decent example of a typical cart.
For different individuals and families, there are obviously multiple factors that can effect personal finances such as
1. Size of Family,
2. Income,
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3. Healthcare Costs,
4. Debts and Loans,
5. Rent or Mortgage,
6. Student Loans
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7. Location
among other additional costs, but, we hope that our price basket can help offer some insight into real world inflation as opposed to government statistics. State and Local Sales Tax can also dramatically impact the prices we see. Some states do not have sales tax on certain food items, while others can have a very high sales tax (over 10% in some areas).
As you can see we have had to update the style and design of the page to be mobile friendly and the basket itself as we have now been updating this page for 9 years and needed to change design slightly to allow us to continue updating each year, we have also added a couple of paragraphs further down the page to include something about healthcare and student loans