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 ...
And comes from Mexico.:)
Nope. Connecticut. I couldn’t believe the prices. I stood there for five minutes staring, hoping to find the error. My two sons just developed a taste for orange juice and the price doubled in a week.
The economy will only go into the toilet because the Rats think that they are smarter than "the invisible hand."
Unfortunately, the Republicans may be too dumbfounded to point out the screw-ups on the part of the Rats, including the ethanol mandates and the continued resistance to tapping our own domestic energy sources and building new refineries, power plants, etc.
Milk goes to +/- $5.50/gal. so we look to less expensive alternative products like soy milk for coffee, breakfast, etc. Soy milk and other product prices are also on the rise b/c the fields that once grew soy beans are being shifted to corn production for ethanol and feed production... It is an interesting example of the interconnectedness of economics.
Never eat green beans in Yankee land.
Energy is down for me this year vs last. Housing is identical. Food is up but a relatively small portion of my bill. I’m sure in some areas of the country it’s bad in ‘hot’ housing market areas but I dont think inflation in middle America has been bad at all.
The two dozen jumbo eggs at BJ's went from 2.49 to 3.29 in about three weeks.
“...that’ll also include that package of $3.50 free range eggs as well as the regular $1.50 box that most people buy...”
Thank you, Voice of Sanity!
But, when I was producing “boutique” eggs, I was getting $4.50 a dozen when we sold to the Yuppies on the “posh” side of town. (Fools.)
I never pay more than .39-cents a dozen when I need to buy store-bought eggs. Which is maybe twice a year in the winter months when the girls shut down production. (I have laying hens.)
These figures are totally skewed. There’s more free and cheap food on this planet than anyone realizes. Heck, in the Spring you can practically make a meal each day out of the WEEDS in your lawn if one is so inspired. :)
Very good question. We sell almost as many 3.99/dozen organic eggs as we do $1.39/dz regular white eggs. Our produce 5 years ago was only 5% organic but is now over 30% organic (and our produce year over year sales have increased by nearly 14% because of it too).
Ame in MA ray. And meat has doubled, too. We don’t buy ice cream anymore since it went to almost 7.00 for what used to be a gallon, but is now a smaller package.
The last I heard they always pick the lowest cost item And/or the best seller.
Yes, living in Northern Virginia tends to alter my entire perspective on things just a wee bit. ;)
I grew up here, and traffic becomes increasingly intolerable with each new year...not to mention the fact that condos sell for $200K, townhouses for $250K, and single-family homes go for much more than that (all in the outer suburbs). Living closer to DC, e.g. in Vienna or Falls Church, could set a family back a cool $800K to $1 Million.
Believe me, I'm shocked when I look on realtor.com at prices elsewhere: homes for less than $100K?! Good houses, to boot! Almost makes me want to get a tech job and telecommute :P
Can you guess who said this?
We've got to be aggressive about finding alternative sources of fuel. And one such source is ethanol. Ethanol comes from corn -- and we're pretty good about growing corn here in America, we've got a lot of good corn growers. Therefore, it makes sense to promote ethanol as an alternative to foreign sources of oil. Ethanol can be mixed with gasoline to produce a clean, efficient fuel. In low concentrations, ethanol can be used in any vehicle. And with minor modifications, vehicles can run on a fuel blend that includes about 85 percent ethanol and 15 percent gasoline. Ethanol helps our farmers find a new markets and helps us replace foreign crude oil. I mean, I like the idea of spending money on research to make ethanol more feasible, so that some day an American President says, show me the crop report. (Laughter.) As opposed to, how many barrels of crude oil are we importing?
>> Orange juice at $8 /gal. Unbelievable!
Darn right. I’m switching to beer for breakfast. Haven’t noted much of a price increase on beer.
I really don't blame the President for being so clueless in a small way. He doesn't go grocery shopping, nor would it make any sense for him to do so.
But anyone who buys groceries understands the sticker shock.
The President, who has never demonstrated that he is very keyed in to the understanding of every day life of most Americans, let alone Americans who conceive of themselves as "conservative," is just showing his simplistic arrogance here. The war and the price of groceries have nothing to do with each other in the mind of anyone, period.
And people's sense of optimism? Really ... oh my goodness ... is it possible to get more incoherent or clueless than that statement?
The very discouraging thought is that this President without a doubt was better to elect than Gore or Kerry. No question about it.
But the Carter, Bush, Clinton, Bush, string of presidents, a string where the word mediocre would be extravagant, exaggerated praise if used to describe them, is too much to take.
Apparently, no one ever loses by underestimating and insulting the intelligence of the American people.
Let me guess...a RINO?
Thanks, Al Gore and enviroweenies. (But you-know-who gets the blame, of course.)
Oh, I don’t doubt the stupidity of the current crop of RINOs we have in Congress in the least.
And I’ll even tell ya this: My own FIL, who is Salt of the Earth sees this ethanol “scam” for the “scam” that it is. He planted ALL corn this year instead of planting any soybean at all.
He’s a smart man and he knows what side of the bread is buttered. I totally trust his instincts in that this ethanol craze will be short-lived (3-5 years in his opinion) and that he’ll just cash in now and laugh all the way to the bank.
And trust me...every other Farmer in The Heartland is doing the exact same thing.
Things will even out again. They always do. ‘Make Hay While The Sun Shines’ and all that. :)
200k here in GSO, NC would be a nice 1/2 acre 2500 sq ft newly built house in most parts of town..800k-1m is a McMansion here (7k-12k sq ft).
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