220124 Sentinel, Cost of Living

The cost of living is tracked by the government's CPI (“Commercial Price Index.”) What goods and services are included in CPI? The CPI measures costs in these areas, according to the BLS, "Bureau of Labor Statistics": Food and Beverages (breakfast cereal, milk, coffee, chicken, wine, full service meals, snacks) Housing (rent of primary residence, owner's equivalent rent, fuel oil, bedroom furniture)
The CPI went up 5.4% last year, the largest increase in 40 years. That gave me a boost in Social security of 5.9%, more than Joyce and I had since we retired in 2007. That seemed big until I saw my cost of Medicare also went up, digging deep into that increase.
I don’t know how the government figures the stated increase to be 5.4%, considering my cost of living for groceries, gas, food, clothing and incidentals has gone up more than double that figure and I don’t think I am much or any different at all from many of you. Even one of my favorite stores to shop; “Dollar Tree” jumped from a dollar to a dollar twenty five when I was there yesterday. That's 25%. I’m happy for the increase in Social Security, but it will not compensate for everything else I need to purchase. The CPI is predicting another year of the same 5.4% for next year. For the year 2021, there were a few specific things that are drove the overall high index reading. Energy prices are up nearly 25%, and gasoline is up more than 42% from September 2020. Prices of used cars and trucks, though they declined on the month in September, are up more than 20% from a year ago. New cars and trucks are up as much as 40% due to the lack of new vehicles. My Local Ford dealer has barely any new vechiles at all.
If this keeps up, I think we are all in for rough times ahead. There’s nothing we can do about that so far as I know. The current LIM (Low income level) is income of less than the median income of a family in the U.S. I am already below the $25,000 level of low income. Joyce and I combined were barely at that point before her passing on. Not to worry though I’ve been there before and will handle this as I always have. Living on a fixed income has always plagued people, now as before this time.
If things get beyond my ability to cope, I will find a spot in a VA home nearby. I have experienced twice what happens in a family's home taking care of aging parents and will not do that to my daughter, no matter how willing she will be to take me in. I am a survivor.