Posted on 08/15/2007 7:08:15 PM PDT by shrinkermd
MIDLAND, Va. — The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits.
Already stung by a two-year rise in gasoline prices, American consumers now face sharply higher prices for foods they can't do without. This little-known fact may go a long way to explaining why, despite healthy job statistics, Americans remain glum about the economy.
Meeting with economic writers last week, President Bush dismissed several polls that show Americans are down on the economy. He expressed surprise that inflation is one of the stated concerns.
"They cite inflation?" Bush asked, adding that, "I happen to believe the war has clouded a lot of people's sense of optimism."
But the inflation numbers reveal the extent to which lower- and middle-income Americans are being pinched.
The Bureau of Labor Statistics said in its July inflation report that egg prices are 33.7 percent higher than they were in July 2006. Over the same period, according to the department's consumer price index, whole milk was up 21.1 percent; fresh chicken 8.4 percent; navel oranges 13.6 percent; apples 8.7 percent. Dried beans were up 11.5 percent, and white bread just missed double-digit growth, rising by 8.8 percent.
(Excerpt) Read more at mcclatchydc.com ...
A man of so many words :)
‘Zactly.
If you see a stray angus beef cow over by the chicken house, shoot it.
I lost one in the woods.
They are lying. The Feds have lying about inflation for quite awhile.
where’s beer and wine on that chart?
LOL. Everybody that graces my doorstep, or even drives slowly past my property, is presented with spaghetti squash as a parting gift. ;-)
I noticed that myself when I was there last week too. The corn we had last year was about as good as I can remember. This year there was none to be found on the menus.
Of course, the worst shock was the price of a dozen crabs and what passes for Jumbo/Extra Large/Colossal these days. Even at those prices, good sized crabs were difficult to find. Even a bucket of Thrasher's fries is almost $10.00. Something's not right.
Does the cost of refrigeration (higher electricity costs) factor into higher prices?
In Australia, it is the Reserve Bank, which just put up interest rates.
My impression is that the real rate of inflation is higher than the official rate - they are fudging the figures somehow. They say there is low inflation, but try driving the car to go shopping for essentials ...
I’d love to do the Rally on the 15th, but it’s a no-can-do for me.
But even if I could make it, I wouldn’t be able to bring strawberries, with luck (and the luck depends on this heat breaking) I won’t have but a quart or so of berries left in my freezer by then...........they will have all been turned into jam. I need the space in the freezer for peppers. And more blueberries, which I hope to acquire next week. The peppers are primarily for jelly and the blueberries for more jam. I make pretty decent money selling them all :) And it keeps me from having to get a “real” job.
no. no. no.
i’m just saying the fed controls money.
inflationary pressures are periodically an issue they deal with.
So far no..I haven’t heard that mentioned from any of our chart people and it doesn’t pop out on our financials.
Well that’s cool!
I struck gold at the day-old produce rack today - bing cherries for $1.28lb and redskin potatoes (the ONLY kind I'll make mashies with) for $.24lb.
I stopped buying my beloved orange juice last spring and buy bread at the Hostess thrift shop (prices have gone up there too, but not as much as the grocery store).
I can still get milk at Sam's for $2.79 a gallon. If it goes much higher, the kids will be eating dry cereal!
And that’s exactly the firm I was thinking of.
In about five years I expect we’ll be able to purchase some ethanol plants for salvage.
But I don’t agree that biodiesel is a scam. Biodiesel can result in an increased supply of energy, and it can be produced from algae, switchgrass, and other non-food sources.
I won't have to buy any tomatoes until it frosts. Looked at my garden today and there must be at least a bushel that are ripe and ready to pick. Afraid to tell my wife as she just put up 21 jars of tomato products yesterday. Maybe I should dehydrate them.
Was also wondering what to do with all the green beans in the garden. Have picked over 40 quarts off of 4 rows and still have 11 rows yet to pick. *Idea* I may just dry them so they can be stored since the price of dried beans has gone up.
Still have plenty of venison in the freezer so won't be needing any beef anytime soon.
May not have exactly what we want to eat this winter but nobody will go hungry around this place.
Just as long as it isn't overripe, seedy, watery gift zucchini. Don't get me wrong, I love zucchini. Some of the small ones, no more than an inch and a half in diameter sliced and braised with olive oil, a couple of tablespoons of water, garlic, fresh oregano and basil. Salt, pepper and a grating of parmesan cheese at the end. That is my favorite vegetable. But the zucchini most people give away resemble water balloons in content and flavor.
The rise in cost of fuel for a 45,000 lb. load does not warrant such steep price hikes for the food carried in such a load.
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