A lonely beef tenderloin in the field of Kolbassa.
I have no idea whether the person who dropped a pack of beef tenderloin into the food warehouse in Kolbassa actually traded the steak for sausages. But the symbolism of this image is clear to anyone living with food inflation.
A lonely beef tenderloin in the field of Kolbassa. A metaphor for food inflation.Rob Carrick / Globe and Mail
The recently announced September inflation figure was described as good news by economists because the 3.8 percent annual increase in the cost of living was less than the 4 percent rate in August. When you examine the figures, you will see that food inflation is 5.9 percent. This is typical of rising prices over the past year or two; No matter how much the overall cost of living increases, food also increases much more.
While wandering around a local food store recently, I noticed the abandoned beef tenderloin. The beef special was $17.94 for two steaks, which seems like a good deal for sirloin steak. I may have revealed my incompetence at grocery store food shopping there, but whatever. The point is, someone bought a luxury type grocery item and walked away. Is this the future of grocery shopping?
Inflation will eventually fall to the Bank of Canada’s preferred level of 2 percent, but that only means more moderate price growth than we’ve seen recently. There’s no going back to past prices, which means making tough choices in the market now and in the future. Which way to the tofu aisle?
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Do you have photos that tell the personal finance story? Is degrowth in action? Greedy banks? Oddity in real estate or retail stores? Send them to me at rcarrick@globeandmail.com.
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Rob’s personal finance reading list
Dollar store dudes and bargains
a survey dollar store items those that offer good value and what to avoid. For example, makeup. My two cents is that dollar stores are great for purchasing travel size toiletries. Much cheaper than pharmacies.
Who is who in prepaid cards?
A look at the players in a small but growing part of the payment system, prepaid cards. Load some money onto your card from a bank account and then use it to spend anywhere that accepts credit cards. Prepaid cards have some advantages for travelers and people who want control over their spending.
Are online mattresses worth it?
Mattresses you buy online rather than in a store can save you hundreds of dollars, but how do they stack up in terms of comfort, supply, and solutions to back pain? Answers this Reddit discussion.
Allow used electric vehicles
As noted in a recent newsletter, the prices of electric vehicles need to be reduced to increase affordability. Considering buying a used EV to save money? One reason not to do this is that older EVs on the used vehicle market may experience battery problems.
Callout Cottage
Globe reporter Salmaan Farooqui is reporting on the crashing cottage real estate market and wants to talk to people who are either trying to sell their homes or buyers trying to take advantage of a relatively cheap market. If you would like to share your experience, reach out to him at sfarooqui@globeandmail.com.
Question answer
Q: A few years ago, I sought debt consolidation and credit counseling because I had $30,000 in student debt and my credit cards were maxed out. Since then, I have worked hard to become debt-free and financially literate. Debt consolidation was removed from my record and my credit score became 836. This month I got distracted and missed paying my credit card bill for the first time. I paid it in full as soon as I realized it the next day, but now I’m losing sleep over how this bill will affect my credit score and clean track record. Can you give any insight on this?
HAVE: First of all, congratulations on taking care of your debt and building an A+ credit score. Congratulations. When it comes to your accidentally late credit card payment, check this out information from then-credit monitoring company Equifax. If you’re just a few days or weeks late, the late payment may not be reported to the credit bureaus, he says. Suggestion: Call your credit card company, explain the situation and see what can be done. In the worst case, late payment will slightly reduce your credit score. However, the decline will probably leave you on a very good note, which poses no problem if you borrow money.
Do you have a question for me? Send it my way. Sorry, I can’t answer everyone individually. Questions and answers have been edited for length and clarity.
Tools, Explainers, Guides and Charts
a guide for protect the elderly from financial abuse.
Free Zone
You know that excitement you get when you hear a really good new song? last one for me Roundabout CirculationIt is featured on the new album of Australian musician Jamie Hutchings. Regrets of mayhem with scratchy vocals and addictive piano melody.
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A visual representation dividend investment This may surprise you.
what i’m working on
– Best online brokers for GIC traders
– Risk of retirement regret for people who put work first in their lives
Banks are torn between dividend-hungry shareholders and a government that wants them to go easy on customers
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