Anecdotal evidence of inflation

Started by ldub23, August 25, 2021, 07:50:39 AM

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ldub23

I take walks every morning. Today 2 businesses have signs  up saying they will have  an additional 2.5% and  5% surcharge  on everything  starting today due to supply chain slowdowns.Wont be surprised to see large  scale  shortages  of  everything  soon.

supsalemgr

Quote from: ldub23 on August 25, 2021, 07:50:39 AMI take walks every morning. Today 2 businesses have signs  up saying they will have  an additional 2.5% and  5% surcharge  on everything  starting today due to supply chain slowdowns.Wont be surprised to see large  scale  shortages  of  everything  soon.

I am seeing it in grocery stores here. Prices are also being raised. I understand it is not necessarily supply as it is transporting goods.
"If you can't run with the big dawgs, stay on the porch!"

ldub23

Quote from: supsalemgr on August 25, 2021, 08:30:25 AMI am seeing it in grocery stores here. Prices are also being raised. I understand it is not necessarily supply as it is transporting goods.

I think its  going to get worse.

Solar

If I'm not mistaken, this is technically illegal.
Most business work off a ROI indicator, and what they buy at the current price (CPI) is reflected on a certain percentage of profit, when the next order is placed, the price is adjusted to the cost of the product, or a percentage of a set profit margin.

Eg. If I'm selling widgets for 10 bucks a case, with a built in 12% profit margin, and the next order costs double, I still set my profit margin for the new cost.

It is unethical to sell the product purchased earlier at the next pricing level.
This is why gas station prices can vary wildly in scarce times, because by law, they are forced to sell the old gas at the market price they purchased it under, otherwise they can be sued for price gouging.

I think these stores will be sued as well.
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ldub23

Quote from: Solar on August 25, 2021, 09:04:34 AMIf I'm not mistaken, this is technically illegal.
Most business work off a ROI indicator, and what they buy at the current price (CPI) is reflected on a certain percentage of profit, when the next order is placed, the price is adjusted to the cost of the product, or a percentage of a set profit margin.

Eg. If I'm selling widgets for 10 bucks a case, with a built in 12% profit margin, and the next order costs double, I still set my profit margin for the new cost.

It is unethical to sell the product purchased earlier at the next pricing level.
This is why gas station prices can vary wildly in scarce times, because by law, they are forced to sell the old gas at the market price they purchased it under, otherwise they can be sued for price gouging.

I think these stores will be sued as well.

That  may  well be true, but they have the  signs  up.

Solar

Quote from: ldub23 on August 25, 2021, 09:20:16 AMThat  may  well be true, but they have the  signs  up.
:biggrin:
But your Honor, I gave them warning that I was going to rip them off, regardless of the listed price on the item?

Judge to Idiot: So despite what the total was on the register, you arbitrarily charge an additional fee because you just wanted to profit off of an oncoming price increase?
And what happens if said price increase in commodities never takes place, are you going to refund all the customers, you overcharged?

Yeah, I don't think these peoples ethics align with normal folk. I assure you, there will be lawsuits, with penalties far greater than those they gleaned by raising their prices.
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supsalemgr

Quote from: Solar on August 25, 2021, 10:13:29 AM:biggrin:
But your Honor, I gave them warning that I was going to rip them off, regardless of the listed price on the item?

Judge to Idiot: So despite what the total was on the register, you arbitrarily charge an additional fee because you just wanted to profit off of an oncoming price increase?
And what happens if said price increase in commodities never takes place, are you going to refund all the customers, you overcharged?

Yeah, I don't think these peoples ethics align with normal folk. I assure you, there will be lawsuits, with penalties far greater than those they gleaned by raising their prices.

The free market will most likely be the best judge in this situation.
"If you can't run with the big dawgs, stay on the porch!"

Solar

Quote from: supsalemgr on August 25, 2021, 10:52:29 AMThe free market will most likely be the best judge in this situation.
Yep, and people won't forget.
Could you imagine shopping for food, only to get to the register and get tagged an extra tax of 2.5%?
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ldub23

On my morning walk i re-read the signs. One says a  2.5% inflation surcharge will be added to every  purchase. The other says  $5, not  5%, will be added to every  purchase.