Skip to comments.USDA Predicts Surging Food Prices in Coming Year
Posted on 10/30/2011 6:55:00 PM PDT by JDW11235
The USDA has released their projections for food price inflation in 2011/2012, showing troubling forecasts that may send you to the grocery store today, before paying higher prices tomorrow. The report shows that the Consumer Price Index (CPI) for all food increased 0.8 percent between 2009 and 2010, and is forecasted to increase 3.5 to 4.5 percent in 2011.
Items that are expected to inflate the most include beef, cooking oils, and seafood. Processed vegetables and beverages were projected to to see smaller changes in the CPI. The Wall Street Journal notes that the midpoint of the new USDA outlook signals the sharpest acceleration in the food inflation rate from one year to the next since 1978, and makes the increase itself the biggest since 2008, when prices rose 5.5%. While things may seem bleak for the rest of the year, the USDA projects that prices will rise only 2.5 percent next year.
(Excerpt) Read more at theblaze.com ...
I thought that you might be interested.
I see Glenn Beck is wrong again.
You’ll have to tell me what you’re referring to for me to follow...
I used to have no problem finding 99 cent five pound bags of potatoes. Now they are usually two bucks.
Chicken legs? Now I usually have to pay .69 cents on sale when it used to be easy to find them for .49 cents. Some foods are flat - I can still often find split chicken breasts for .99 cents (the best buy for chicken AFAIC) - and pasta can be found for .89-.99 cents a box - have a nice stash of whole wheat pasta for .99 cents a box.
But my larger point stands that there has been significant spot inflation in many low-end staples.
Food prices already are out of control. The media doesn’t say one word about obama’s inflation.
This is bull. When you count product shrinkage, most foodstuffs have gone up 25 to 30 percent. It’s getting kind of scary going grocery shopping.
We used to be considered comfortable middle-class sorts. Not any more. I just shop for the sale stuff.
And what’s with this “water added” to ham? We pay dollars per pound for water?
I am a very price aware shopper, too. I have bought foods by using a list, and have been the list maker and budgeter for nearly twenty years. I remember when deli ham was $0.99, or just a few years ago (5 years to be exact), when I moved to this area Ham was about $2.99, London Broil was 99 cents a pound, and petite sirloin steak was $2.29. Today, that london broil is over 3 dollars a pound, and petite sirloin went up to over 7 dollars, but is now back down to around $5, $4 or so on a good sale.
Milk in this area used to be $0.99, at most $1.69 (for whole), just last year, and is now over $2.89 most of the time. Cheese has nearly doubled in the last two years, even at the bargain store (We only have Sam’s, not Costco, here).
I wish I could find whole wheat pasta at that good of a price, every once in a while, it’s about $1.19. Sauce is through the roof, too. Either the price goes up, or the price goes up AN the package size decreases by 20%. I remember shopping with my dad in the 90’s, an hundred dollars would fill 2 carts. Now $200 may not even fill one cart.
A 5lb bag here is already $3.99
Nor do they say anything about the nearly 1 in 5 (might be one in 6) people on foodstamps. That’s going to let the price of food skyrocket further, until only when you are on foodstamps (or grow your own food, which is questionable in legality now) will you be able to afford food.
Amen and amen! I make it a point when I'm given my grocery receipt to tell the cashier that I thank 0bama. Most are pretty receptive.
Thank you for the link!
The watered ham really makes me angry too. I bought some recently and had to dump water from the frying pan 2 or 3 times before the slice dried out enough to brown. That’s a real racket.
I was just noticing high prices tonight, at Walmart. It’s time to start making more things like bread...I haven’t done that for ages.
I used to buy a package of shredded cheese for my tacos, earlier this year it was $1.86 a package, now it is $2.36...same package, same size, etc.
Absolutely. I have noticed that everything is coming in smaller packages. I have learned a trick (tell, if you will), and that is, when you see a package that is large, and that the smaller packages cost less than the big one, that the package size is about to change.
For example, if TP is say 5.99 for a 12 pk, and the 36 pk is $20.00, that means it’s $2.00 cheaper to by the 3-12 pks. But I have found that once they rotate the stock, the new 12 pk’s are 10-20% smaller, and now cost say $7.99. It’s that way with all foods. When there is a really good sale, stock up, because I have found it to mean that the package is about to change. The best sales of the month are typically found on the 1st and 3rd weeks (week of the 1st, and week of the 15th), and remember you can freeze just about anything!
Not just ham, either. Frozen chicken breasts and lots of other items have water added, yikes!
And canned ham is about maybe 50-60% ham. The rest is water and gelatin and other pork products.