The Annual inflation rate in the US accelerated to 7.9% in February of 2022, the highest since January of 1982, matching market expectations.
- Energy
inflation remained the biggest contributor (25.6% vs 27% in January),
with gasoline prices surging 38% (40% in January).
- Shelter
inflation accelerated (4.7% vs 4.4%).
- Food
inflation (7.9% vs 7%, the largest since July of
1981), namely food at home (8.6% vs 7.4%).
- New
vehicle inflation (12.4% vs 12.2%);
- Used
cars and trucks inflation (41.2% vs 40.5%).
Excluding
volatile energy and food categories, the CPI rose 6.4%, the most in 40 years.
Still, the surge in energy costs due to war in Ukraine is still to come. The inflation
was seen peaking in March but the recent developments in Europe coupled with
the ongoing supply constraints, strong demand, and labor shortages will likely
maintain inflation elevated for longer. Source: U.S. Bureau of Labor
Statistics
Negative
Impacts on Ride Share Drivers
People
who drive for ride-hailing and delivery companies like Uber and Lyft have been
hit hard by rising gas prices, because their ability to earn money is tied to
driving hundreds of miles each week. And because these drivers are independent contract
workers, the companies do not reimburse them for the cost of fueling up, which
impacts their earnings significantly. The
national average price of a gallon of gas peaked at a record $4.33 last week,
according to AAA. In California gas now averages $5.77 a gallon. Many ride share drivers are questioning
whether they are even making a profit after subtracting all of the costs
involved.
Reliable
Rider Clubs
What
Makes Reliable Rider (RR) Different?
Seniors
are feeling the inflation the most at the gas pump and the grocery store. For many Seniors the cost of
individually owning and operating a vehicle may become prohibitive in the near
future. People who want out of individual ownership may want to consider
joining a Senior Ride Share Club. With shared ownership the
operating costs of transportation are divided by the number of members in the
club and by the miles of transportation used by each member. Operating costs
include: drivers, vehicles, insurance, fuel, service maintenance, repairs and
administrative costs. Some of the
impacts of inflation can be mitigated by sharing the rides and the transportation
costs. Register
your interest in becoming an RR club
member.
Senior
Ride Share Clubs provide a host of benefits
for their senior users. All applicants for club membership receive background
checks of criminal history prior to having their membership approved.
Applicants pay for their own background check ($75 non-refundable). Clubs will
have no more than 30 to 60 members in their Members Only Ride Share System.
Club members can book their ride pickup time and location and the destination
location up to 90 days in advance. Other
club members can share the same ride if their pickup location and destination
location align with the route. Club
members pay $250 per month for up to 250 miles of transportation in that
month. If a club member uses more than
250 miles of transportation in any month, their credit card will be billed
$1.50 per extra mile. By ridesharing, we
mean two or more persons traveling in an automobile together.
Senior
Ride Share Clubs are attractive to Senior
Citizens who no longer want to drive or individually own vehicles. Other groups
of people who may be interested in joining a club include: People who cannot
obtain a driver's license for any reason.
People who want to opt out of the Legal Liabilities of driving. People
who want the Dollar Savings of Shared Ownership. People who have Medical Issues
or concerns that prevent them from driving. People who want to manage the risks
of consuming alcohol at restaurants, bars, music and sporting events. People
who value Safety and Security above all other considerations. Register your
interest in becoming an RR club
member.
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