Skip to comments.Food inflation seen back on the table as prices rise
Posted on 04/05/2012 3:15:24 PM PDT by NRG1973
World food prices are likely to rise for a third successive month in March, and could gain further beyond that, with expensive oil and chronically low stocks of some key grains putting food inflation firmly back on the economic agenda.
Food prices grabbed world policy makers' attention after hitting record highs in February 2011 and stoking protests connected to the Arab Spring wave of civil unrest in some north Africa and middle eastern countries.
Prices later receded, but an upturn which began in January, initially seen as a pause in the overall downtrend, has persisted.
The United Nations Food and Agriculture Organisation (FAO) will update its monthly Food Price Index on Thursday and the organisation says prices could rise more in the short and medium term as grain supply tightens and energy prices stay high.
"You can see prices in the near term rising even further," FAO's senior economist and grain analyst Abdolreza Abbassian told Reuters ahead of the index update.
High crude oil prices have fuelled the upward pressure on inflation since the start of this year. Consumer prices in the 17 nations sharing the euro were up 2.6 percent in March from a year ago, despite stumbling economy.
(Excerpt) Read more at reuters.com ...
Let’s see. Borrow and spend trillions of more dollars than you take in. Keep interest rates at record low levels. Twist and stimulate, stimulate and twist. You would have to be a moron to think that this would lead to inflation. (In this instance, I AM that moron).
Central planning doesn’t work. Never has. Never will.
Since Fuel costs area portion of the final prices we all find at the grocery store. And in my area Gas just went up another 10 cents from yesterday to $3.97.
That’s right; this isn’t “food shortages” as you would have with droughts; this is high food prices due to inflation.
Inflation coupled with unemployment should have Obama losing to ANY Republican (and I believe he will). His media can’t run interference for him when someone’s jaw drops at the supermarket register.
And so it starts to unravel...
“And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and [see] thou hurt not the oil and the wine.”
And open your borders to tens of millions, when there are not enough jobs for Americans...
All this while legally inviting in tens of hundreds of thousands more...Like just like the Bush years!
Lets keep sending hundreds of billions to other countries in the form of foreign welfare aid.
Price increases at my fav grocery, Wal*Mart, have been jaw dropping.
Remember, increasing food prices are not seen as part of inflation! You could eat dog food after all.
My geese, ducks and chickens are looking very nervous.
Those on the lower wage scales are all but financially dead.
Minor point. Don’t think gas with food, think diesel. Not only a higher price per gallon, but greater consumption per mile by trucks and trains.
” Minor point. Dont think gas with food, think diesel. “
Since I live 30 miles (60 round trip) from the grocery store, both are significant...
You will, of course, get hit on both accounts. As expensive diesel will drive up the prices in your grocery, and *then* you get nicked having to drive there and back to pay more.
Though even mentioning it can start a fight, whenever the price of gas goes over $3, I start adding 3 oz of acetone per every 10 gallons of gasoline. Works for me by giving me better mileage, though many will swear up and down that it doesn’t work, and can’t work. I’m pragmatic.
Also, we can expect the MSM to rediscover the homeless, who mysteriously disappeared when Obama took office.