Prices are coming down

[ponyo]

One good thing about the bad economy is that prices on many things are coming down. I was at Costco and noticed ribeye steaks at $5.99/ lb and bone-in ribeye at $4.99/ lb. That's cheap for choice steaks. I notice more cars on the road again with the cheaper gas.

I think I can get used to this crappy economy.

 

[Newbian]

Are you sure it was not horse meat first?

 

[JohnCU]

paging dave mcowen to come in and tell you about the $10/gallon gas coming after the election

 

[GodlessAstronomer]

Originally posted by: JohnCU
paging dave mcowen to come in and tell you about the $10/gallon gas coming after the election

Well technically 2050 is after the election. Wouldn't be the first time he pulled that kind of crap.

 

[ShotgunSteven]

There has been a lot of talk about how the bad economy is hurting the lobster fisherman. Lobster is going at a cheaper price per pound than steak in many areas, apparently.

 

[GagHalfrunt]

Lower fuel prices translate across the entire market. Much of the price you pay for any goods is the price of transportation, not the goods themselves.

 

[ponyo]

Originally posted by: ShotgunSteven
There has been a lot of talk about how the bad economy is hurting the lobster fisherman. Lobster is going at a cheaper price per pound than steak in many areas, apparently.

I haven't noticed cold water lobsters like the Maine lobsters drop in price around where I live. Costco near me only carries warm water lobstertails from places like Costa Rica and Brazil. The lobster tails have dropped from $26/lb during the summer to $24/lb now but I think much of the drop has to do with the gain from the currency conversion of the stronger dollar. Emerging market currencies have taken a beating so things from Costa Rica, Brazil, and the like should be cheaper.

 

[CPA]

While it seems insignificant, I noticed Chef Boy-r-dee ravioli is down from $1 to $.94. 6% price reduction is pretty large for a grocery store product.

 

[LS8]

1 gallon jugs of bottled spring water were $.64 this time last year. Sometime around last Christmas they went up to $.94 presumably because of shipping costs (gas). They are back down to $.64 this week.

 

[MrBond]

Originally posted by: Naustica

Originally posted by: ShotgunSteven
There has been a lot of talk about how the bad economy is hurting the lobster fisherman. Lobster is going at a cheaper price per pound than steak in many areas, apparently.

I haven't noticed cold water lobsters like the Maine lobsters drop in price around where I live. Costco near me only carries warm water lobstertails from places like Costa Rica and Brazil. The lobster tails have dropped from $26/lb during the summer to $24/lb now but I think much of the drop has to do with the gain from the currency conversion of the stronger dollar. Emerging market currencies have taken a beating so things from Costa Rica, Brazil, and the like should be cheaper.

When I was in Maine at the end of July, they were saying lobster was way lower than normal because the numbers they were catching were way up. I'm almost positive it was cheaper than steak.

So I took advantage of super cheap, super fresh lobster while I was there.

 

[ivan2]

i notice that i am getting a bigger slice of pizza today. a nice bonus.

 

[Engineer]

I do most of the shopping in the house and prices have leveled off on many items, but meat prices, especially beef, have started falling.

However, with that said, prices on many items took small jumps about every two months, and ended up being much higher than they originally were. This should now reverse with lower fuel prices and the fact that not as much corn will be used for ethanol (I would guess).

Catch the sales and stock up.

 

[dmw16]

So can I buy it in bulk...10lbs or so

 

[ponyo]

Originally posted by: CPA
While it seems insignificant, I noticed Chef Boy-r-dee ravioli is down from $1 to $.94. 6% price reduction is pretty large for a grocery store product.

Part of the reason I like Costco and use them to track prices is that they're basically a wholesaler open to the public. They have tremendous buying power on products they buy and pass on the savings. If prices go up, they will raise it. If it goes down, they will drop it immediately unlike some retailers. They have an internal policy of never marking up a product more than 14% from their cost. So if prices drop, they drop the prices immediately.

 

[JohnCU]

Originally posted by: Naustica

Originally posted by: CPA
While it seems insignificant, I noticed Chef Boy-r-dee ravioli is down from $1 to $.94. 6% price reduction is pretty large for a grocery store product.

Part of the reason I like Costco and use them to track prices is that they're basically a wholesaler open to the public. They have tremendous buying power on products they buy and pass on the savings. If prices go up, they will raise it. If it goes down, they will drop it immediately unlike some retailers. They have an internal policy of never marking up a product more than 14% from their cost. So if prices drop, they drop the prices immediately.

hmmm didn't know that, that's cool. don't have one near by or i'd shop there

 

[ShotgunSteven]

Originally posted by: Naustica

Originally posted by: ShotgunSteven
There has been a lot of talk about how the bad economy is hurting the lobster fisherman. Lobster is going at a cheaper price per pound than steak in many areas, apparently.

I haven't noticed cold water lobsters like the Maine lobsters drop in price around where I live. Costco near me only carries warm water lobstertails from places like Costa Rica and Brazil. The lobster tails have dropped from $26/lb during the summer to $24/lb now but I think much of the drop has to do with the gain from the currency conversion of the stronger dollar. Emerging market currencies have taken a beating so things from Costa Rica, Brazil, and the like should be cheaper.

It was the Maine lobsters that they specifically mentioned, saying it was $6.50 a pound or so. They said in the report that they were having a lobster feed at the docks to help raise money for the fisherman that were going broke. The price drop was primarily due to low sales.

 

[ja1484]

The problem was never the cost of items, it was how people were "paying" for them. Prices were where they were mainly because of energy costs.

 

[Zee]

Originally posted by: JohnCU

Originally posted by: Naustica

Originally posted by: CPA
While it seems insignificant, I noticed Chef Boy-r-dee ravioli is down from $1 to $.94. 6% price reduction is pretty large for a grocery store product.

Part of the reason I like Costco and use them to track prices is that they're basically a wholesaler open to the public. They have tremendous buying power on products they buy and pass on the savings. If prices go up, they will raise it. If it goes down, they will drop it immediately unlike some retailers. They have an internal policy of never marking up a product more than 14% from their cost. So if prices drop, they drop the prices immediately.

hmmm didn't know that, that's cool. don't have one near by or i'd shop there

walmart has these on for sale for 92 cents

 

[JS80]

Originally posted by: Naustica
One good thing about the bad economy is that prices on many things are coming down. I was at Costco and noticed ribeye steaks at $5.99/ lb and bone-in ribeye at $4.99/ lb. That's cheap for choice steaks. I notice more cars on the road again with the cheaper gas.

I think I can get used to this crappy economy.

i just got the prime for 9.99

 

[Capt Caveman]

Originally posted by: ShotgunSteven

Originally posted by: Naustica

Originally posted by: ShotgunSteven
There has been a lot of talk about how the bad economy is hurting the lobster fisherman. Lobster is going at a cheaper price per pound than steak in many areas, apparently.

I haven't noticed cold water lobsters like the Maine lobsters drop in price around where I live. Costco near me only carries warm water lobstertails from places like Costa Rica and Brazil. The lobster tails have dropped from $26/lb during the summer to $24/lb now but I think much of the drop has to do with the gain from the currency conversion of the stronger dollar. Emerging market currencies have taken a beating so things from Costa Rica, Brazil, and the like should be cheaper.

It was the Maine lobsters that they specifically mentioned, saying it was $6.50 a pound or so. They said in the report that they were having a lobster feed at the docks to help raise money for the fisherman that were going broke. The price drop was primarily due to low sales.

A read an article that talked about Canada Lobster Processors not being able to get bank credit to purchase Maine Lobster which was one reason for the drop in demand.

 

[ShotgunSteven]

Originally posted by: Capt Caveman

Originally posted by: ShotgunSteven

Originally posted by: Naustica

Originally posted by: ShotgunSteven
There has been a lot of talk about how the bad economy is hurting the lobster fisherman. Lobster is going at a cheaper price per pound than steak in many areas, apparently.

I haven't noticed cold water lobsters like the Maine lobsters drop in price around where I live. Costco near me only carries warm water lobstertails from places like Costa Rica and Brazil. The lobster tails have dropped from $26/lb during the summer to $24/lb now but I think much of the drop has to do with the gain from the currency conversion of the stronger dollar. Emerging market currencies have taken a beating so things from Costa Rica, Brazil, and the like should be cheaper.

It was the Maine lobsters that they specifically mentioned, saying it was $6.50 a pound or so. They said in the report that they were having a lobster feed at the docks to help raise money for the fisherman that were going broke. The price drop was primarily due to low sales.

A read an article that talked about Canada Lobster Processors not being able to get bank credit to purchase Maine Lobster which was one reason for the drop in demand.

Yes, I saw that article earlier today. I think they said that the Canadian processors dealt with over half of the Maine Lobster catch?

It is over half, apparently the Canadian lobster processors were getting credit from some of the banks that failed in Iceland. Dug up the article again.

The article I mentioned.

Blog crap about the lobster prices.