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Inflation, Rising Prices & Recession: Economic Discussion

nodle

nodle

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So I thought I would mention the cost of rising materials lately. So I have been speaking with many vendors lately for different building material prices, and it's getting insane. I spoke to some steel building builders and metal prices are soaring. Then wood prices are insane. OSB boards went from $10.00 a sheet in December to over $30 now. Tripled in price in 3 months. I spoke to a vendor yesterday about getting some SCH 40 PVC piping he told me it went up 18% last week along, and he expects it to rise next week as well due to all the repairs down in Texas because of the storms. He said if you can buy it right now, get it because there is a shortage going one. We had a lady stop in and she has had to cut down the square footage of her new home due to the rising costs, she said it just keeps going up and soon they won't be able to afford to build at all. Also I have I read the typical gas price in America is $3.02 a gallon, almost a dollar raise in two months. Crude has doubled. Grocery prices are rising as well along with shipping costs. Quite a bit going on since the new administration took over. You will feel it in your pocketbook and were only two months in. I may have to bump this thread in a year from now and see how the prices have changed.

 
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On another forum, a well respected member (and forum administrator as well) mentioned that in his line of work they had a meeting with a Sherwin Williams rep and they basically said that things are going to get much worse all across the board. SW is not just paints, but is a big player connected to many other industries and mentioned how many things will significantly rise and availability will decrease with some things never coming back. This will keep up a ripple effect for a while.
 
I just got off the phone this morning with a guy, and we’re getting a bunch of rough cut lumber cut. He talked to the loggers and couldn’t believe how much even raw logs are going for right now, which just steadily increased down the line from the sawmill to the consumer.
 
Just had a landscaper come in he told me all plants and shrubs have increased 15% in the last month, plus he expects freight to go up as well with the rising diesel costs.
 
What have you guys seen go up price wise locally in your area lately, or have noticed shelves becoming empty? I know that in our local one yesterday most of the bread was completely out of stock, along with canned beans. Either chili is big right now or we are starting to see the shortage locally. I know prices of juices are going insane. $7 for a half gallon of OJ.

 
Cattle costs are going up big time, good for the ranches, bad for your price of meat.

 
Also had to get an updated quote this morning for a client, this same week last year we had it quoted, I just got it in my email this morning, the cost went up 30k from last year all in the same week. It has a lot of metal parts in it. It’s crazy!

 
I love how they are now trying to blame inflation on Russia now. They say this is all happening because of the Ukraine situation. Umm, we’re not stupid this has been going on for a year now.

 
[QUOTE='nodle]What's the reasoning? It's not even fire season yet?
[/QUOTE]Transporting it? Not sure.

 
Wow, we go through a lot of oils here at my work along with DEF which is used for machinery and our diesel vehicles. I called in to place an order and it's made with Urea, which is fertilizer. Well with the Russian stuff and fertilizer, it's has now over doubled in cost for a Jug of it. We are placing another large oil order since all oils are rising 15% come the 28th of March.

 
Just had another oil company guy stop in and we started talking. He said Chevron has a 28% increase coming on oils/fuels coming next month, and another projected 20% increase two weeks after that. We bullshitted for a while and like he said some of his materials the freight to get the product up here is so much that by the time it gets here with all the fuel costs it's increased three times the cost. 

 
Most energy companies are doing well now, but Chevron specifically is crushing it. I remember years ago when my neighbor at the time told me that Chevron can make money on anything above $35-40 oil due to their technology. He designed safety products for oil drillers. Has made for a good investment for me over the years.
 
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