[quote=pri_dk][quote=AN][quote=pri_dk][quote=AN]Here’s another data point. In 1998 a gallon of regular gas was ~$1. Today, that same gallon is ~$4.[/quote]
Pro tip: If you destroy one of the top oil-producing nations, it may have an effect on gas prices.[/quote]
How do you explain the price of Milk then? IIRC, milk was around $1 in late 90s and now, they’re mid $3.[/quote]
Milk price in 1995: $2.50
Milk price in 2011: $3.60
Annual rate of change: 2.3%[/quote]
Thanks for the link. Good site for data. I guess my memory served me wrong on that one. I guess data proves it, there’s no real food inflation, at least no more than your standard inflation rate.
So, now that we’re out of Iraq, oil price should drop, right? We can use $2/gal right about now. It was only a couple of years ago that it was ~$1.60.
