Will inflation affect LTTstore.com?

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[SimohSays]

At the company I work for we are struggling to hire new software engineers but the base salary we offer to them hasn't gone up in 4 years... It's baffling and when I brought it up to management they increased it by 1.6% like that would make a difference at all. Why on earth are we offering them effectively less money than 4 years ago? So I think this affects a lot of industries, and in different ways

[marcruijs]

I lost it when Luke went "I'll be more blunt, a lot of companies are looting right now" 😂

[mitchel]

I’m a transport truck mechanic for a waste company. Drivers salaries have not changed more than 1%. The cost to operate our yard has gone up ~2%, but they’ve raised prices 6%. This is 100% all a cash grab.

[crschoen]

The "board room" conversation that I've been present for is, "Now is the time to raise prices because everyone is expecting it." This is the general thinking regardless of industry and whether or not the company is actually experiencing significant cost increases. It is indeed "looting" as Luke put it.

[Stef.Cata]

I own a logistics company in Europe and the drivers salaries haven't really risen that much unfortunately it's hard to get our hand on trucks and trailers, new ones are on waiting lists that can take up to 2 yrs and old ones are more expensive than new ones in lots of cases. We've raised prices around 20% since the beginning of the year but the fuel prices have been wrecking chaos

[-SP.]

My dad's a trucker in the US and Canada. Average rates for loads are actually down from what they were last year and fuel is very expensive now, resulting in much higher expenses

[theaterlightman]

I work at sysco as a cdl driver, we signed a 5 year contract 2 years ago... so no we didn't get any inflation wage increase, I still get paid decent, but it's no longer top of the market like it did.

[ChoonMa]

My parents are professional truckers and trucking costs, especially taxes specifically on trucks driving on the roads and fuel, are wrecking smaller carriers. For instance, Connecticut just increased their diesel fuel tax by 9 cents/gallon. Most trucks get less than 10 Miles/gallon.
Profit margins are nearly nonexistent for smaller truckers right now. Big companies have some weight to throw around to negotiate pricing, but they can't handle all the freight on their own.

(edited with a more verifiable example of trucking cost increases)

[solaryard]

Linus, fertilizer is surprisingly expensive and does go up in price quite often ! So the apple could be more expensive due to slightly higher labour costs, higher growing cost, and higher transport cost with the fuel crisis - A South African farmer

[klikkolee]

"inflation" is supposed to refer to the changing relationship between real cost and the number on a price tag. it should be considered fraudulent for a company to increase the real cost and call it "inflation"

[nambreadnam]

People say "huh huh prices are going up because supply and demand" like it's some natural law, but what they've actually normalised is the fact that companies will increase prices "just because they can". I think part of the reason we're now seeing signs of a recession in the UK is that these companies have been using the "supply and demand" BS excuse, overextended, and then found that they've priced their own customers out of the market. It's going to be interesting to see how 40 series launch will go, because if nvidia has predicated their prices and margins on the crypto gold rush of the last few years, they may find that there are no customers left come launch who can afford their products.

[burkyftw]

I'm self employed and in my case, fuel is killing me, every week I am worse off to the point that I am now just browsing job sites again. Insurance used to be my biggest expense but now my diesel bills have sky rocketed past that point.

[ScGendo]

Glad to hear your salaries ramp up according to inflation, here in the UK I just got a rise which barely covers the increase in rent alone, as of everything else I'm pretty much fucked. First time I really feel any inflation.

[marcustmusic]

In the 3 years I’ve been in the workforce(i’m 19), I’ve went from a $7.25 an hour job to a $10 an hour job which no is not sustainable especially living in a city.

[juliancantarelli]

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”


Greeting from Argentina, where we have at least 5% inflation a month since ever, and coincidentally, governments keep printing money like there's no tomorrow.

[scottieapplseed]

I love your level-headed clarity and transparency on the reality of subjects like this.

[nicbenn]

I work in the bus industry, and over the last 4-10 years the salaries haven't changed at all (depending on company) or only by minimal increments.
We're bleeding drivers and can't get enough to even cover the shifts we have.

[Ryan_Stewart]

As a truck driver I've seen a 6¢/ mile or about $3.30 an hour increase in the last year, when considering the US National Average Speed Limit is 55 mph with a truck limited to 65mph. And this was my 1st (rookie) year and that 6¢ doesn't include any pay increases I've had throughout the year for gaining experience. Just the 3 times my company did increases to the pay scale to retain and attract drivers.

[gezafisch]

Just to clarify on Luke's point, if profit margins increase, that's looting. If profit dollars go up, that's not indicative of looting. Inflation makes the number go up, not the percentage

[rocknroll]

My dad is a trucker in the UK, the company he works for raised their wages to be in line of market demands and for them to help retain staff. There is a "shortage" of truckers in the UK, so anything they can do to stop people leaving for competitors is only beneficial for him