Inflation is sure to be part of the discussion at the press conference with Chairman Bernanke today, which gives us yet another excuse to look at some chart porn.

Have a gander at the first graphic — its from the NYT, whose graphic department is usually pretty awesome:
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The original

click for larger graphic

Source: Behind the Rising Cost of Food (NYT)

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But even awesome can be improved upon; The above chart was the inspiration for an improved version from Flowing Data:
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New & Improved

click for larger graphic

Source: How much more we pay for stuff now than we did last year (Flowing Data)

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I’d have to give the nod to Nate for his version — I think it is more informative, easier to read, and an improvement on what the NYTimes did.

Category: Digital Media, Financial Press, Inflation

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

24 Responses to “Comparing Prices: 2011 vs 2010”

  1. Petey Wheatstraw says:

    Bacon, lettuce, and tomatoes — all up. Damn.

  2. Lariat1 says:

    Grow your own lettuce and tomatoes but hold off on the pig. They are a pain in the ass to raise.

  3. rktbrkr says:

    Does it seem possible that healthcare only went up 2.7%?

  4. Greg0658 says:

    “usually pretty awesome” .. well .. not sure about that
    +10 ocean currents around Africa
    (got it – its vegitables)
    http://en.wikipedia.org/wiki/Cape_of_Good_Hope

  5. Petey Wheatstraw says:

    Lariat1:

    Too hot for lettuce, here (other than early season), and horn worms demolished my tomatoes last year (trying to stay away from insecticides — not that I can do that by buying commercially grown produce). Even if I grew pigs, home-made bacon seems fairly difficult to make (perhaps it isn’t). Maybe I’ll stick with a good ol’ tomato sandwich.

  6. forwhomthebelltolls says:

    @Petey Wheatstraw

    Neem Oil – http://en.wikipedia.org/wiki/Neem_oil

    You’ll never see another horn worm. Completely organic.

  7. cyoder1 says:

    Interesting Truth: Invictus slammed Sarah Palin several months back for suggesting that inflation might be an issue. Not hatin…just saying. And now its on everyone’s mind and its certainly all over their wallet.

  8. machinehead says:

    I see several barnyard animals in the graphic. But where is the sheeple?

  9. franklin411 says:

    @cyoder1
    Inflation isn’t an issue. Oil is up because China is buying massive amounts of it, and because the GOP filibustered the Democratic attempt to get a handle on speculation by regulating futures trading.

    Fruits and veggies are up because we’ve had several severe weather developments over the last several years (note that the weather seems to be shifting between extremes more rapidly than ever before…but the GOP still denies that climate change is real). Last summer we had extreme heat in the world, including a severe drought in CA and Texas. Don’t forget about the terrible heat wave that led to a wildfires that destroyed most of Russia’s grain crops last summer. And then there was an extreme cold snap in the US that resulted in massive amounts of crop damage, and the cold destroyed almost 2/3 of Mexico’s corn crop last winter as well IIRC.

    Inflation is only mysterious to the uninformed.

  10. CIGA Monitor says:

    What’s with medical up only 2.7%? Insurance premiums are up 16% y/y in Oregon, and I doubt we are the only state impacted. That’s not just my price – that’s the statewide price change announced by the insurers. Maybe some companies are covering this, but I don’t believe that. These medical numbers are a joke.

  11. clipb says:

    using barchart.com numbers, i get ~1$ increase in gasoline starting from 2.40 which gives an increase of ~40% not 25+ like you (and the nyt) have in the chart. if that number is so off, how good are the other numbers? and what are they based on? is this just another in a seemingly endlesss march of manipulated, bogus numbers?

  12. ashpelham2 says:

    clipb, maybe Diesel is included in that price, and perhaps it hasn’t risen as sharply. Hell, to be honest, fuel didn’t really even take off in it’s price until around December, and really a big step up since February. We’re getting our heads knocked off right now on fuel. Folks in NYC and Boston don’t notice this as readily apparent as those of us in Red states do, because we don’t believe in going to work with everyone else. We still want to drive too large vehicles, by ourselves, too far of a distance to make sense.

    The Dream is a Nightmare.

  13. USSofA says:

    Thank god Beer inflation is remaining low

  14. cyoder1 says:

    @franklin411

    I hardly expected to be called uniformed. And please don’t try and jump on the political bandwagon and paint me as some sign toting party fanatic. I’m no fan of Palin myself. Washington is full of problems in both parties.

    And I’m well aware of the world’s weather and its impact on crops – before finance I had consider years in the agricultural industry. All I’m saying is that ideology can often times blind us to reality. In other words don’t disregard something someone says just because you don’t like that person. For instance you immediately pointed to the Republican party as a definitive link to high prices. Granted I do think that futures trading has an impact but it’s only a small part of the picture. Oh and cotton – why is that so high? Does one’s years average crop the price almost doubling?

    My biggest issue with your comment is that you immediately assumed several things about me. You assumed that just because I referenced Sarah Palin that I was right wing – and therefore inherently uniformed. I’m neither.

    And perhaps you could teach me how to become so sure of cause and effect. You seem to have it perfectly laid out in your mind. I think the Fed has open positions right now if you’re interested.

  15. cyoder1 says:

    @considerable number of years in the agricultural industry.

  16. Petey Wheatstraw says:

    forwhomthebelltolls:

    Thanks. I’ll give it a shot.

  17. MorticiaA says:

    Sure SEEMS that my wine bill has gone up. Perhaps only my tastes are inflationary.

  18. Petey Wheatstraw says:

    Morticia:

    Has your consumption gone up? Say hi to Gomez for me (he must be going nuts in this market – what’s a fellow got to do to realize some honest losses?).

  19. MorticiaA says:

    @Petey:

    That’s a reasonable question to ask, but, no, my consumption hasn’t gone up. I buy the same number of bottles every Saturday. More I think about it the more I’m convinced I’m buying more expensive wines. Life is good at the Addams Mansion…. As for my better half, I just tell him, “Don’t torture yourself Gomez. That’s my job.”

  20. plantseeds says:

    cyoder1 – I guess you havn’t heard.
    Know one knows what franklin411 knows, franklin411 must have a PHD.
    “weather seems to be shifting between extremes more rapidly than ever before”
    it’s true because we’ve been tracking weather for “ever”.

    I like that the weather hasn’t affected the price of wine yet.

  21. louis says:

    “Inflation is the opium of the people”

    Hazlitt

  22. @machinehead Says:
    April 27th, 2011 at 10:08 am

    I see several barnyard animals in the graphic. But where is the sheeple?

    They are not set to be slaughtered until the next inflation cycle

  23. jj2me says:

    Well yeah, it’s improved. The NYT’s chart has the stuff you add to core inflation to make headline inflation.

  24. jus7tme says:

    I don’t believe for a second that baked goods have had an inflation of less than 3%.

    It used to be (2009) one could routinely get bread on sale for $1.99 or even $1.49. Now the same bread is $2.99 or $3.49 and NEVER on sale (2011).

    Inflation is not just about “list” prices. It is about the prices that consumers actually pay.

    Same observation holds for milk. No more $2.39/gal. Always $3.39/gal or higher.