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Old 04-13-2002, 07:37 AM
65hoss's Avatar
65hoss 65hoss is offline
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Join Date: Sep 2000
Location: Memphis, TN
Posts: 6,360
Inflation rising-Costs to us and for us going up.

I get a Bloomberg email report daily. I thought I would pass this on to everyone for you basic info.

Inflation May Be 2002 Surprise, Some Economists Say
Washington: Theresa Liaw is paying 41 percent more for insurance
on her home in San Antonio than she did in 2001. Gasoline at
Mary Jo Keffer's filling station in Winnebago County, Illinois,
has risen 30 percent since January.
``It's scary, but everything is going up,'' said Lea Ann
Ryder of Plentywood, Montana, who is paying 4 percent more for her
daughter Michaela's tuition at Oregon's Pacific University than
she did last year.
Those rising costs help explain why some economists predict
inflation in the U.S. may accelerate this year, with consumer
prices climbing at an annual rate of 3 to 3.5 percent by the
fourth quarter, well above prevailing forecasts. Consumer prices
last rose that fast for a year in 1990.
The Labor Department reported today that producer prices
climbed 1 percent in March because of soaring oil costs. It was
the biggest increase in 14 months, adding to evidence inflation
pressures may be growing. Core producer prices excluding food and
energy rose 0.1 percent, the first increase since November.
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Old 04-13-2002, 03:16 PM
MuskTurfKing's Avatar
MuskTurfKing MuskTurfKing is offline
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Join Date: Sep 2001
Location: Oklahoma
Posts: 338
41% more?? Man, that's a lot. I need to call and get a quote for insurance on my truck sometime, I know it's going to be outrageous since I'm male, and a new driver....

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Old 04-13-2002, 04:53 PM
TGCummings TGCummings is offline
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Join Date: Jun 2000
Location: Salinas, California
Posts: 773
It sounds like an economic "correction" to me. We had a recession, and things need to get back on track. I think this reinforces the idea that we need to keep our prices stable this year and just "stay in business". After a correction like this, we could see economic growth, which means people have more money to spend on "luxuries" like lawn care, landscaping, and maintenance.

After the necessities of economy stabilize, we'll get to have our own "correction".

Mind you, I'm not an economist, so this is just a wild theory...
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Old 04-14-2002, 07:15 AM
garydale garydale is offline
LawnSite Senior Member
Join Date: Jan 2002
Location: Mount Airy, Maryland EST
Posts: 813
We will deal with it fellows.

Great times ahead:
Boomers retiring. with more money than any previous generation.
Greatest transfer of wealth in history.(Elderly Leaving more money to dependants)
Service based econony. ( no one does anything themselves anymore.)
Great opportunites ahead.
Add services, think outside the box,take advantage of enviromental movement.

It's going to be great!!!
gary crutchfield
po box 630
mount airy, md 21771-0630
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Old 04-14-2002, 09:11 AM
Kent Lawns Kent Lawns is offline
LawnSite Senior Member
Join Date: Jan 2000
Location: Midwest
Posts: 870
What a distortion!

Fuel LESS that it was the past 2 summers.
Everybody knows whats happening with insurance: After 8 years of premium DECLINE, we now face a 15% increase. (Shop around if your premiums went up 41%)

I paid LESS for my equipment in 2002 than I did in 1986 and it's better stuff!

My communications (cell phone, long distance) is a fraction of what it used to be.

Sure, costs go up, but if you raised your prices 3% every year, you're in good shape.
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