I was at Coles the other day and noticed their cheapest loaf of bread is now going for $2.60. In 2018 that same loaf with the same packaging in the same size was going for $0.85. I specifically remember that, because we didn’t have a lot of money at the time and would often get a couple loaves of that and some cheap butter or whatever the cheapest close enough thing was and had plain toasties for lunch and dinner every day for a few weeks on end. If we had more money, we’d sometimes get a minimum chips from the fish and chip shop and do chip sangas, sometimes with tomato sauce if we had any.
If that loaf of bread went up in line with the official inflation rate (https://www.rba.gov.au/calculator/annualDecimal.html), how far back do you think we’d need to go for an 85 cent loaf of bread in that year to be worth $2.60 now?
The answer is 1986. That loaf of bread is 214% more expensive than it was 6 years ago.
Okay, but that loaf of bread was probably selling at a loss in 2018 to get more people through the doors and also drive bakeries out of business, which is a different problem.
You have a point, but I think that’s generally reflective of how all prices have gone. It seems almost everything is about double what it was in 2018. Essentials, at least. Non essentials seem to only be about 50% more than before
I was at Coles the other day and noticed their cheapest loaf of bread is now going for $2.60. In 2018 that same loaf with the same packaging in the same size was going for $0.85. I specifically remember that, because we didn’t have a lot of money at the time and would often get a couple loaves of that and some cheap butter or whatever the cheapest close enough thing was and had plain toasties for lunch and dinner every day for a few weeks on end. If we had more money, we’d sometimes get a minimum chips from the fish and chip shop and do chip sangas, sometimes with tomato sauce if we had any.
If that loaf of bread went up in line with the official inflation rate (https://www.rba.gov.au/calculator/annualDecimal.html), how far back do you think we’d need to go for an 85 cent loaf of bread in that year to be worth $2.60 now?
The answer is 1986. That loaf of bread is 214% more expensive than it was 6 years ago.
Okay, but that loaf of bread was probably selling at a loss in 2018 to get more people through the doors and also drive bakeries out of business, which is a different problem.
You have a point, but I think that’s generally reflective of how all prices have gone. It seems almost everything is about double what it was in 2018. Essentials, at least. Non essentials seem to only be about 50% more than before