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April 13, 2022 | The Rising Price of a Sandwich

Robert Campbell

Robert Campbell is a real estate analyst and economist. He's been publishing The Campbell Real Estate Timing Letter since 2002. His book (Timing the Real Estate Market) presents a clearly defined method for predicting the peaks and valleys of real estate cycles.

 

The above illustration shows how much more expensive sandwiches have become in the last 12 months ending March 2022.

Those percentages are based on actual price changes that have occurred compared to a year ago.

Yet according to the government inflation figures from the Bureau of Labor Statistics, the cost of food in the U.S. increased by only 8.5% during those same 12-months.

Want the Truth?

If you want to know what figures are more realistic, ask someone who shops for food on a daily or weekly basis.

My wife Pam is 100% Sicilian. And like most Italians who believe their families (and beagles) should “eat fresh,” she goes to the grocery store almost everyday.

When I asked Pam for her opinion on whose food price figures were closer to the truth – she replied “Those government figures are pure BS. Food prices have risen at least twice that much – and maybe even three times.”

Me, I wouldn’t have a clue. I’ve only stepped into a grocery store maybe 10 times in the past year – and each time it was to buy some late-night ice cream.

And I never cared what the ice-cream cost. Like someone hooked on drugs, I bought it because I had to have it.

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