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Inflation, is it truly reported ?


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I am starting to wonder if the inflation numbers reported by the Mexican Central Bank are really a true representation. As one example, today I had to go to a hardware store with one of my workers and just happened to look at the price of stationary gas tanks. The 180 liter was listed at 8,770.00 Pesos. 2 years ago I bought the same tank for 4,500.00 Pesos (yes, almost double). These tanks are manufactured in Guadalajara so go figure. On a minor note, the Costco Hot Dog price increased a little over 30 percent. Have wages gone up to reflect this ? I doubt it. 😒

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First, you should know that Costco subsidizes its snack bar and its roasted chickens, and they take a loss on most of it, but it sure keeps the customers coming, so I don't think that's an indicator, lol.

Don't know nuthin' 'bout 'nflation, but I do know the pandemic has caused the most unbelievable things to skyrocket in price, what with all the stalled container ships, export fees, government-imposed tariffs, loss of workers, etc.

And yeah, that's a bit scary for a tank.

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Honeybey yes everything related to construction is going up like crazy.. Last year I paid 430 for a sheet of plywood this year 732, last year 190 for a bag of cement this year 210, last yesr 200 pesos for a sheet of lamina, this year 420.. These prices are from Chiapas  but I assume the price increases are hitting everywhere.. The metal took a big jum 2 years ago  but increased again this year.. and on and on..Last year mason in a comunity 200 a day ths year 300

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1 hour ago, Jreboll said:

It’s been well known for many years that the US govt hasn’t been truthful about it’s inflation rate.  We shouldn’t expect the Mexican govt to be any different.  Those of us on fixed incomes are the most affected.

Gotta get that jab at the Us , don't you? What an a&&.

 

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Why would you need any government to tell you about an inflation rate??? Cannot you tell just by comparing what is going out of your pocket today compared as to what was going out say a year ago for the same things??? I don't trust ANY government: Mexican, U.S. or any other!!!

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2 hours ago, Jreboll said:

It’s been well known for many years that the US govt hasn’t been truthful about it’s inflation rate.  We shouldn’t expect the Mexican govt to be any different.  Those of us on fixed incomes are the most affected.

But we are not talking about the USA....are we?

Everyone who has shopping for food stuff has experienced first hand the increases , it's a no brainer

regardless what the government figures are, I forgot to mention Gasliqudio that seems to go up every month

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The answer to the OP's question is no, probably not by any government as high inflation creates unrest and political change.  I would expect inflation in the US to resonate at least somewhat in Mexico.  We are NOB at the moment and the inflation is quite noticeable here.  Also more than a few bare spots on store shelves.

Amazing how we can't seem to discuss anything here without it degenerating into personal sniping.  😒

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"Priciest Food Since 1970s Is a Big Challenge for Governments"

I'd guess that with almost all governments worldwide having added so much debt to their balance sheets during the pandemic; Inflation will be here for a long time.

 

https://www.bnnbloomberg.ca/priciest-food-since-1970s-is-a-big-challenge-for-governments-1.1652365

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Someone knocked on my door last week wanting to buy my old car.  Car dealerships have sign saying “we will buy your car, you don’t have to buy ours”.  And now with thousands of cars flooded due to rainstorms people are desperate for any car.

as the saying goes “when US sneezes, Mexico gets a cold”.  Hang on to your cars wherever you are.

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4 hours ago, Mainecoons said:

Drive 'em until they drop.  :D 

My 1982 Ford F-150 pickup just celebrated its 40th birthday!!! I asked Armando my mechanic how many more years and he said 40...I asked him how many more years for me and he looked at me, laughed and said 40!!! I'll take that any day!!!

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37 minutes ago, gringohombre said:

My 1982 Ford F-150 pickup just celebrated its 40th birthday!!! I asked Armando my mechanic how many more years and he said 40...I asked him how many more years for me and he looked at me, laughed and said 40!!! I'll take that any day!!!

In other words, walk until you drop. ☺️

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In the US, the "inflation rate" is calculated (generally) by looking at goods and services not including food or energy costs (like utilities.)  Also not included are taxes, higher education, healthcare, credit card interest, and home prices.  So basically all the things people know are zooming upwards are the things that make life just existing day to day for many people.  I'm sure the actual cost of living increases each year are actually not the 2.5% quoted but are easily four times that.  Wages have been flat since the seventies making it seem even more worse that it truly is.  I'm sure the same is true in Mexico.  Every country needs a "working poor" class to stay a little afraid and therefore easy to manipulate, to keep the economy stable.  Just buy what you need and try to keep everything you've bought for as long as possible.  And try to think of those less fortunate than most of us are.

Alan

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