The Campbell's Soup Index of Inflation

[rambone]

This is a real-world indicator of the plummeting purchasing power of the U.S. Dollar. Inflation is ravaging your savings by the day. Buy tangible assets now while you still can.

Smokingman gets the credit for researching & collecting this data. Each data point was averaged across at least 3 grocery stores. Yesterday I took the final reading and made this chart. Spread it around.

1950: 10 cents
1960: 15 cents
1970: 17 cents
1980: 21 cents
1990: 33 cents
2007: 39 cents
2008: 40 cents
2009: 45 cents
2010: 51 cents
2011: 60 cents (11-28-2011)
2012: 87 cents (09-21-2012)

As noted in another thread, there was a [STRIKE]28%[/STRIKE] 45% increase in 10 months, but the FED says inflation is under 2% annually.

 

[rambone]

I posted this somewhere else and people are saying that these prices seem really LOW where they live.

If you can find it for 87 cents, that's a bargain. It's generally at least a dollar a can in these parts.

...more like $2 bucks.

In Wyoming % 1.25 on sale

.99 or more...without tax!

 

[Captain Morgan]

I think this is one of the biggest things people forget about when they talk about how much wages have increased over the years and how the unions have helped so much with improving wages. If employee pay goes up, the cost of the goods go up to cover the extra money that was spent. I know there are many other factors than just wages, but this just shows that we aren't really much better off than we were back then. Maybe in the sense of better safety and working conditions, but there's a cost to that as well.

 

[rambone]

Hey smokingman, I just realized that on top of the inflation, they've shrunk the size of the can at some point. I think it used to be 12 oz, now it is 10.75 oz.

 

[smokingman]

Hey smokingman, I just realized that on top of the inflation, they've shrunk the size of the can at some point. I think it used to be 12 oz, now it is 10.75 oz.

Yes they changed the amount in the can in 2007.Here is the reason why.

and this..

 

[1donos]

I was thinking the same thing when I was in the store and paid $4 for a pound of hamburger! Didn't it used to be $1/lb not long ago??

 

[threefiftyfour]

did you see the price of Coca-Cola?

 

[pudly]

Hey smokingman, I just realized that on top of the inflation, they've shrunk the size of the can at some point. I think it used to be 12 oz, now it is 10.75 oz.

Similarly for a lot of other products. Cereal, canned goods, and many others have reduced portions to avoid visible price increases. If you have older products in your pantry and compare it to newer, you may see some examples.

One example: I have some Eckrich Smoked Sausage in my freezer that are 14 oz, but the newer packages are 13 oz.

 

[melensdad]

FOOD PRICES and GASOLINE PRICES are not considered factors in the consumer price index by the Fed. So they can double every day but the official .gov "inflation index" will not reflect their increases no matter how unaffordable food/fuel become.

 

[smokingman]

FOOD PRICES and GASOLINE PRICES are not considered factors in the consumer price index by the Fed. So they can double every day but the official .gov "inflation index" will not reflect their increases no matter how unaffordable food/fuel become.

True,but energy and food make up 38% of retail sales.Which makes sense given retail sales have been on the rise consistently since 2009 when the money started falling from helicopters.It kills me every time the newest retail sales figures come out and it always manages to be better than expected(accept Christmas sales for the last 3 years). Then the financial news cheerleaders go on and on about how indestructible the US consumer is.

The reality is consumer sales have fallen,we just pay more for the things we need.
It will work until it does not.

 

[mrjarrell]

You could use the comic book index, too. Back in the 70's a comic book went for $0.15. Today they're up to $2.99. Even though the quality has skyrocketed that's still a huge increase. Same goes for paperback books. In the 70's they routinely went for $0.60 to $0.75. Today they can run you $9 or better. Inflation and the dollar have certainly played a role in that.

 

[Survivalcookie]

You have to talking about tomato or chicken noodle soup....and your prices is the sale price! MY favorite Campbell s soup is beef vegetable almost 2 bucks a can....in the 70s I was paying about 25 cents a can.

 

[indyjohn]

Walked by an Endcap at Wallyword today stacked 7 ft high with 4-paks of Tomoato Soup. $2.88 each.

Made a point to stop & notice because I'd read this post yesterday.

 

[giovani]

Used to buy ice cream in 1/2 gal, gal, and 6 quart tubs.
Now all I see are 1.5 quart and 1 gal tubs

 

[Super Bee]

Hey smokingman, I just realized that on top of the inflation, they've shrunk the size of the can at some point. I think it used to be 12 oz, now it is 10.75 oz.

The size of the can is true. I did check with the wife on prices and she feels they are off a bit.

Meijer has the soup for $1.19 regular price. They are on sale now for $.78 a can. She said during the winter months they are always on sale for $.49 a can.

Interesting, thanks for posting.

 

[88GT]

I use milk and Diet Coke as indicators when I shop. Both are up significantly.

Incidentally, I always check the organic milk prices when I shop just for fun. I've watched them creep up from $5.99/gal to $6.72/gal to $7.2x/gal in the last year. Regular milk has not jumped nearly as much (from about $2.2x/gal to $2.74/gal depending on local market influences and store brand).

 

[smokingman]

Update for 2014?
I can not get averages where I am,at least none that would reflect the midwest in general.

 

[88GT]

I use milk and Diet Coke as indicators when I shop. Both are up significantly.

Incidentally, I always check the organic milk prices when I shop just for fun. I've watched them creep up from $5.99/gal to $6.72/gal to $7.2x/gal in the last year. Regular milk has not jumped nearly as much (from about $2.2x/gal to $2.74/gal depending on local market influences and store brand).

Milk is 3.17/gal at Meijer now.

Store brand shredded cheese (2c) is almost $4.

 

[rambone]

My dad told me he stayed in a hotel for $6.00 in college. And it was a racket.

 

[Joe G]

Were those historical prices in 2012 dollars?

If not, $0.10 in 1950 is $0.95 in 2012 money.

Calculate the value of $10 in 1950 - Inflation on 10 dollars - DollarTimes.com