I think if price of something increase so much, better to look for good and cheaper alternatives of same/similar size rather than adding to the demand. If lots of people do this, that could force the price to come down.
The problem with this is most companies who produce cheaper/generic items are the same ones who make the name brand/full price items. What really sucks is those generic items having increased in price too, where as they would normally feel like a sale.
(Here in the U.S. it's between 4-6% on average. Many items have inflated much more such as seafood being around 20-30%)
Thanks for posting that statistic, because I wasn't sure what the US inflation rate is right now. That doesn't seem to be that high, but compared to all those years when inflation was near zero, it's
really damn high. And yep, that 4-6% doesn't apply across the board for all goods and services.
Recently my two favorite bags of chips have become unavailable from both supply chain issues and factories focusing on other items, putting them ahead of my FAVORITE damn chips lol).
Oddly enough, I've noticed that regular Cheetos have been frequently out of stock in my area, though those awful hot ones are still on the shelves. I've also seen cat food shelves near empty as of late.
Did you mean to say 4-6% DOES apply across the board? Because that is the rate of inflation across the board in the US. The vast majority of items are seeing inflation. Most basic items are seeing that 4-6% rise but specialty items are really getting hit hard. For example my buddy who runs a boat building business said the epoxy he uses for boats has increased by I believe it was 35%. My dog food went up $10 a bag which is like 20% increase.
Yeah I've seen the same thing with stores here. My local Mexican grocery store is now completely out of basic Tostito's chips. My local CVS looks like a barren wasteland. I just saw on the news that most grocery stores are starting to see the effects of this and once again things like toilet paper are running low now. This is all getting ugly ugly ugly!