is exclude food and energy prices from the inflation index.
Posted on 03/09/2011 5:17:50 AM PST by Red in Blue PA
In nearly every supermarket aisle, food prices are starting to rise.
General Mills just announced higher prices for breakfast cereals, Yoplait yogurt and Nature Valley granola bars. Last month, it raised prices on flour, pizza rolls and Green Giant vegetables.
Hormel Foods recently raised the price of Spam and Jennie-O turkey, with more increases to come. Caribou Coffee said it will follow other coffee sellers in raising prices. And Target's chief executive said last week, "We will need to raise prices to offset higher costs."
After years of quiet on the inflation front, a six-month spike in the prices of grain, meat, dairy, energy and oil is squeezing through the U.S. food system. The wave hasn't hit consumers full-on, but it's coming.
"The fact is, all commodities are going up," said Edward Usset, a grain-marketing specialist at the University of Minnesota. "Fiber, fuel, metals, just across the board, everything is going up."
On Friday, corn soared another 25 cents a bushel — the daily maximum — meaning that corn prices have virtually doubled in six months. Wheat prices are up 32 percent in that time. Hog prices, up 30 percent. Milk prices, up 21 percent.
The Consumer Price Index hints at the changing tide. In 2010 food inflation was calm, inching up just 1.5 percent. Then in January, food prices rose 0.5 percent for the month, and "all six major grocery-store food groups posted increases," the U.S. government reported.
(Excerpt) Read more at twincities.com ...
man, I hate those smaller portions- as if we didn’t notice
like how a half gallon of ice cream now has 1.5 quarts
man, I hate those smaller portions- as if we didn’t notice
like how a half gallon of ice cream now has 1.5 quarts
Yes, they are skyrocketing. But our income is being cut by taxes and health care costs so we’re headed down the hole.
If anyone hasn’t stocked up, you’re in the closing window this week to do so. I’ve been working on it so much that hubby actually decided he’d till my garden and increased the size. It’s late to get started on a garden, but late is better than never.
radio report yesterday said that we (USA) now devote 40% of our seed corn to ETHANOL
Algor Tom Harkin et al must be SO proud to be burning food as an inefficient fuel to save the environment, when people are rioting and starving
Product shrinkage is what gripes me.
Walmart has shrunk their coffee again. What used to be a 3# (48 oz) in 1978 has shrunk to just over 24 oz in 2011. Their price on the shrunk can is (as of last week) $6.00.
In 1978, I recall a coffee shortage and prices skyrocketing (in 1978 dollars). The price of a 3# can of coffee rose to over $9.00.
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Last week, fresh produce seemed to be stable from the previous week. Tomatoes were the most noteable increase — from about $1.49 (previous week) to $2.49 per lb. Lettuce was up from about $1.00 per head to $1.49. Ironically, bagged salad was the same price it has been for months.
We always go to Aldi first...buy everything we possibly can there, then hit the regular supermarket for what we can’t get at Aldi.
Great advantage here in East Tennessee - we have lots of surplus stores. I recently saw Cafe Bustelo (which normally sells at $3.78 a package) for $2.00 each - I bought all 60 of them. I then put them in a Space Bag and vacuum packed them. Should last me a while. I love my coffee strong and Cafe Bustello is as strong as Starbucks.
I love these stores - toilet paper, health care items, bandages, paper products all for about half of grocery store prices. Crushed boxes don’t bother me at all.
I have been stocking up for two years now. I put in a garden, learned to can and dehydrate and I am building a chicken tractor next weekend. I will do my best to survive this idiocy we call a government.
I just started using Aldi’s as my grocery store. Flour and sugar is still a real 5# bag. Not a higher price 4#. Coffee was a better buy by a few bucks too. They even had powdered milk at nearly $4 cheaper than the regular grocery.
food prices are starting to rise.-——
Seems to me they’ve been rising for some time now, not ‘starting’ to rise. Well especially when you consider they cut down the size of a can of vegetables, toilet paper rolls etc...to fool the consumer into believing prices hadn’t already risen...gettin less for the same price, now they are beyond fooling the consumer....ain’t the ‘age of Obama’ , grand?
This is a direct result of effectively PRINTING MONEY!, and MONETIZING THE DEBT!
We should be having DEFLATION right now, but the FED thinks this is not acceptable, so its doing everything it can do to prevent it.
Fewer people working, less disposable income mean wages and prices should lower, instead, wages lower and prices increase...
The FED NEEDS GONE! And the folks in DC authorizing this nonsense need drawn and quartered.
Guess that’s why I’m canning bacon today...
The Coupon Whisperer has about a two month supply of TP that cost him NOTHING. In about a month will stock up again on FREE TP. Anybody who shells out those bucks for TP deserves to get ripped off.
Yeah, the FREE OJ that The Coupon Whisperer now picks up only come in 59 oz size rather than the FREE 64 oz size he used to get it in.
What do you put in the jars with bacon to can it?
Remember there is about 6 cents of wheat in a loaf of bread with wheat at $3.60 and if wheat doubles to $7.20 then the price of bread should increase by another 6 cents. When wheat prices went to the teens in 2008 the price of bread went up with bakers blaming the high cost of wheat. However when wheat subsequently collapsed back to $3.60 last summer did anyone notice the price of bread coming back down?
Hmmm... Not bad but The Coupon Whisperer prefers his FREE Cafe Bustelo.
Not the Jennie O turkey loafs! NOOOOOOO!
Actually had one the other day and I did notice the smaller portions. Damn.
This shouldn’t be a shock to anyone but most of the moron public is too tied up with sports, American Idol, reality TV that they can’t make the connection between oil prices and the price of transportation, producing food or any other industrial process that produces the things that keep us and an economy going.
Either the states need to tell the fed to piss off and open drilling and refining within their state boundaries or there needs to be a second revolution to complete what should have been done with the democrat party in 1865 and to restore the Constitution.
FUBO & FAD
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