[retiredguy123]

I have a different take on this topic. A business has the right to charge whatever they want for their product or service. That is capitalism. Price gouging only occurs when a business is taking advantage of people as a result of a special situation where the customer has no other choice but to pay an excessively high price for an essential product. Washing a car is not a special situation where price gouging applies. If you don't want to pay $34 for a car wash, then go somewhere else. But, it is not price gouging. The business has no obligation to charge based on their costs.

[Michael G.]

Originally Posted by retiredguy123

I have a different take on this topic. A business has the right to charge whatever they want for their product or service. That is capitalism. Price gouging only occurs when a business is taking advantage of people as a result of a special situation where the customer has no other choice but to pay an excessively high price for an essential product. Washing a car is not a special situation where price gouging applies. If you don't want to pay $34 for a car wash, then go somewhere else. But, it is not price gouging. The business has no obligation to charge based on their costs.

A good answer here.
Let me add.... if a business wants to raise their prices so much and take a chance
of going under because of lack of business, that's fine with me, but I'll help them along by taking my business somewhere else.

BTW.....We all make choices on spending our money, so make yours.

[ThirdOfFive]

Originally Posted by retiredguy123

I have a different take on this topic. A business has the right to charge whatever they want for their product or service. That is capitalism. Price gouging only occurs when a business is taking advantage of people as a result of a special situation where the customer has no other choice but to pay an excessively high price for an essential product. Washing a car is not a special situation where price gouging applies. If you don't want to pay $34 for a car wash, then go somewhere else. But, it is not price gouging. The business has no obligation to charge based on their costs.

I agree. Nothing wrong with making an honest buck.

"Charge what the market will bear". If people keep paying it (whatever "it" happens to be) the merchants will probably keep charging the price being paid for it.

Want the price to come down. Don't patronize them. If enough people do that, the price comes down or the merchant stops selling that particular product/service.

[Keefelane66]

If you watch or listen to before The bell or Bloomberg Business its been reported on earning calls its blatant overcharging especially super markets nation wide.

[GoRedSox!]

A few basic stats on inflation. Please don't kill the messenger, I believe all of this to be 100% true.

In 2021, 22, and 23, the rate of inflation went up 7.0%, 6.5% and 3.4%, according to the BLS. Noteworthy that the rate of inflation in each successive year is on top of the rate of inflation from the prior year.

In 2021, 22, and 23, the COLA increase in Social Security Checks was 5.9%, 8.7% and 3.2%. Social Security uses a slightly different inflation metric, and they measure inflation during the months of July, August and September of each year for purposes of determining the following year's COLA.

In 2021, 22, and 23, the average wage increases by non-supervisory American workers were 6.4%, 5.5% and 4.5%.

The current year-over-year inflation as of the most recently measured month (April 2024) is 3.4%. May 2024's inflation rate is released on June 12.

While inflation sits at 3.4%, we are able to beat inflation on our savings with interest rates easily available on government guaranteed Treasuries or FDIC-insured CD's of well over 5%. Even net of income taxes, the return is still higher in most cases than inflation.

Some folks are freaking out over inflation, most likely because we haven't had that much of it in a while....but the average annual inflation rate for the 63 years between 1960 and 2022 is 3.8%.

Most people would consider many of those years to be excellent for the economy. When I opened up my first passbook savings account as a young man, the minimum interest rate allowed by law was 5.25%. The fixed mortgage rate on my parent's house in 1964 was 5.25%. The flexible mortgage rate on my first home was 5.50% in 1996 plus two points. Fixed rates that year were much higher, they were over 8%. Lower inflation and lower interest rates are a recent phenomenon, mostly for the last 15 years, but for most of my life, the current inflation rate is not something that would have even raised an eyebrow. I can still see President Gerald Ford on TV trying to get people to wear the WIN buttons, Whip Inflation Now.

[Normal]

Originally Posted by GoRedSox!

A few basic stats on inflation. Please don't kill the messenger, I believe all of this to be 100% true.

In 2021, 22, and 23, the rate of inflation went up 7.0%, 6.5% and 3.4%, according to the BLS. Noteworthy that the rate of inflation in each successive year is on top of the rate of inflation from the prior year.

In 2021, 22, and 23, the COLA increase in Social Security Checks was 5.9%, 8.7% and 3.2%. Social Security uses a slightly different inflation metric, and they measure inflation during the months of July, August and September of each year for purposes of determining the following year's COLA.

In 2021, 22, and 23, the average wage increases by non-supervisory American workers were 6.4%, 5.5% and 4.5%.

The current year-over-year inflation as of the most recently measured month (April 2024) is 3.4%. May 2024's inflation rate is released on June 12.

While inflation sits at 3.4%, we are able to beat inflation on our savings with interest rates easily available on government guaranteed Treasuries or FDIC-insured CD's of well over 5%. Even net of income taxes, the return is still higher in most cases than inflation.

Some folks are freaking out over inflation, most likely because we haven't had that much of it in a while....but the average annual inflation rate for the 63 years between 1960 and 2022 is 3.8%.

Most people would consider many of those years to be excellent for the economy. When I opened up my first passbook savings account as a young man, the minimum interest rate allowed by law was 5.25%. The fixed mortgage rate on my parent's house in 1964 was 5.25%. The flexible mortgage rate on my first home was 5.50% in 1996 plus two points. Fixed rates that year were much higher, they were over 8%. Lower inflation and lower interest rates are a recent phenomenon, mostly for the last 15 years, but for most of my life, the current inflation rate is not something that would have even raised an eyebrow. I can still see President Gerald Ford on TV trying to get people to wear the WIN buttons, Whip Inflation Now.

Yes, but it is proportional further dividing income brackets. For instance, if you had 100 dollars in 2020 it would now take 121.15 in 2024 to equal the same buying power. That is more than a 1/5 increase for just 4 years time. A fun tool online is

Inflation Calculator

[Rainger99]

Originally Posted by Normal

I carried our groceries the other day from Public’s in one hand in one plastic bag. The bill was 97 dollars. I jokingly told my wife I never thought I could single handedly carry a hundred bucks worth of groceries like that. Kind of scary when you think about it.

Did you buy gift cards??

[OrangeBlossomBaby]

Originally Posted by Normal

I carried our groceries the other day from Public’s in one hand in one plastic bag. The bill was 97 dollars. I jokingly told my wife I never thought I could single handedly carry a hundred bucks worth of groceries like that. Kind of scary when you think about it.

Your mistake was getting all your groceries from Publix.

Most of what you got, you -probably- could've gotten at Walmart for much less. You can even get ground chuck cheaper by a couple dollars per pound at Fresh Market, if you go on Tuesdays.

You probably love their customer service, you enjoy knowing that an employee will walk your shopping cart to your car and load up the trunk for you. You probably like the layout, the lighting, their color scheme, and all the other psychological boosts you get from shopping there. They also have fresh-ish fish (it's not THAT fresh, it's just "not frozen") and they grind and cut their own beef on site. They also have excellent ice cream.

But you're paying a premium for all of that. I price it out regularly, because I'm on a budget. Other than things that I /can't/ get at Walmart, such as freshly ground beef or non-frozen fish, or really excellent subs - Walmart saves me anywhere between 20-60% of my grocery costs.

I shop at Publix when I need specialty stuff, like the Schweid's prime burgers or a sub, or bourbon salmon.

[Stu from NYC]

I believe that for seniors who own home without a mortgage, inflation is much higher than what they are showing us. Groceries and restaurants up substantially.

[Eg_cruz]

Originally Posted by Rich42

Inflation has been raging beyond the typical norms for the last three years. It is significantly affecting virtually all Americans. While businesses need to increase prices to cover legitimate rising costs, too many are just taking advantage of the upward spiral in prices to gouge the consumer. I encountered the epitome of this trend in The Villages yesterday. I have patronized the “Village Car Wash” in the La Plaza Grande shopping center in Spanish Springs for over 10 years. Admittedly I had not been there in quite some time with covid and all, and the last time I was there was a couple of years ago. At that time the price of the cheapest basic car wash (they call it Bronze) was $14.95. Of interest, also note the prices of the various levels of service were prominently posted when you entered their property. To just digress for a moment, I pass their location several times a week and had been noticing the normal long waiting line of cars—regardless of time of year or time of day—has been absent. The place has always appeared to be a gold mine! Well, not so for the last few months. I don’t know exactly when they raised their prices, but the basic Bronze wash (again the cheapest option) was $34! I only found this out when I went inside to pay because their prices were no longer publicly posted. That is an increase from the relatively recent price of 127%!!! No way have their costs gone up anywhere near that. I now understand why there are no longer any lines of people waiting to get their cars washed, and I will certainly no longer be a customer. That is pure greed that should not be supported by the community.

I stopped going when they charged $29, like you I been going there for over 10 years
Watch the way you vote this year

[Cuervo]

Just yesterday I watched funny commercials from the past on YouTube and there was one for Volkswagen comparing 2 neighbors with $3,000. One bought a brand-new car the other bought a house full of appliances and a Volkswagen. Look inflation has been growing for ever, lately it seems to be at a faster past and that is worldwide. As far as car washing, I purchased a new car last week that has a matte finished and I have 2 choices either was the car by hand with special products or take it to a specialist. That life.

[Papa_lecki]

Are you sure you didn’t accidentally buy a monthly membership? I.e. pay $35, get your car washed all month, as much as you want.

[Thetwisted2]

I had mine washed and dried Friday and saw the prices, I asked how much for just a car wash, no interior and was told it would be $21 which included a bug removal. I agreed and someone who didn’t speed English cleaned most of the bugs of and then drove the car through the car wash where several people wiped it down. First and last time there and only 5 cars getting cleaned.

[Laker14]

Originally Posted by Normal

I carried our groceries the other day from Public’s in one hand in one plastic bag. The bill was 97 dollars. I jokingly told my wife I never thought I could single handedly carry a hundred bucks worth of groceries like that. Kind of scary when you think about it.

I had a similar experience. I thought I was just getting stronger.

I really feel bad for the young families with growing bodies to feed.

[Heytubes]

I hit up Big Dan’s unlimited wash for $32 a month on 441 just north of 466 in Lady Lake. First class wash too.