Skip to comments.U.S. FOOD INFLATION RUNNING AT 22%
Posted on 05/26/2014 12:52:51 PM PDT by kingattax
After five years of the federal government telling the public that despite a $3.5 trillion increase in monetary expansion, the inflation rate is below +2%, the Department of Agriculture (DOA) just warned the American public that the consumer price index for food is up by 10% this year.
The DOA tried to blame food inflation on the drought conditions in California, but last years drought was worse and food prices fell by -6%. The real problem is Federal Reserve monetary stimulus is stimulating inflation. I reported in "Food Price Inflation Scares the Fed two months ago that commodity food costs were exploding on the upside. Given the lag in commodity costs impacting prices on grocery store shelves, annual U.S. food inflation is now running at +22% and rising.
The DOA tried to blame food inflation on this years drought conditions in California that they stated may have large and lasting effects on U.S. fruit, vegetable, dairy and egg prices. It is true that California droughts are always agricultural issues, since 80% of the states freshwater supply is used by farms and ranches.
This has resulted in surface water deliveries to farms and ranches from reservoirs and the California Aqueduct being cut by 32.5%, or 6 million acre-feet.
(Excerpt) Read more at breitbart.com ...
We need more regulation!/s
We’re gonna spread happiness. We’re gonna spread freeeeeeeedom.
Parasites hardest hit.
Food prices went way up because;
It didn’t rain.
It should have rained.
It was hot.
It was cold.
It’s prolly one of them. Or more likely, it is because the Republicans don’t want to see hussein succeed so they got together with the Koch Bros and raised the prices. At least that is what the liberals tell me.
This is not news. When a McDouble jumps from $1.00 to $1.39 at Mickey D’s, as it has, it’s all the economic indicator anyone should need.
A quarter pounder with cheese was 45 cents in 1980. Do the math.
Who cares, food and housing aren’t a cost of living!
It didnt rain.
It should have rained.
It was hot.
It was cold.~~~
Hey, that’s worked on gas prices.
Sun came up, Sun went down. Lindsay Lohan in rehab, Lindsay Lohan out of rehab.
The higher food prices go, the more money the government will give out to buy it. Parasites will continue to get the same portion of food as before, even as they make more and more hungry children they can't afford.
It's responsible working class families that don't receive help that will have to cut back.
It's the same with every aspect of the welfare state. Food, healthcare, education -- free money for the worst and irresponsible, while those that work hard get squeezed.
I don’t remember them that cheap. But can’t recall. I do remember when you could get a couple hamburgers at McD’s and a small Coke and get change back from $1.
Around 1980 I remember a Taco Bell taco was about 35 cents. Tasted better back then, too.
If a Republican occupied the White House this would be the lead story of EVERY news outlet, national and local, every news cycle, 7 days each week!
Early 80’s out parents would give us a buck and we would go to the Jewel-T and buy cans of store-brand or generic soda at a dime a can and then walk to the can recycling machine to get change to buy more. A box of Little Debbie brownies was 79 cents too!
Dale, you have an entire life of living the freedom.
Your tough and you love it here.
Explain why your tough and you love it here!
We have newbie’s on board that would be inspired by your
I miss America of the 70’s and the 80’s.
Shoot even the 1990’s at this point.
In other news, obesity up 30%.
Taco Bell had 3 for a buck in 1992.
We had a drive-in that sold the square burger for 15c.
The big burger with cheese was .45 same as McD.
I know these prices because this is how I measure inflation.
It is McDonalds economics.
I can sing that tune! Great post.
Well said and worth repeating.
Get the alcohol out of gasoline,pronto.
Apple trees have nice flowers on them.
If you are lucky enough to have land, put it to use.
It’s not food inflation, it’s inflation inflation. Food is up, gas is up, healthcare is up. What isn’t up in price. Magazines that used to cost $3 or $4 now cost $5 and $6. A guy I know who runs a grocery store said that they don’t sell ice cream in half gallons anymore, it is sold in one and a half quarts. Classic evidence of inflation. Listen, the Fed has been pumping billions of ‘new’ dollars into the economy for years now. What do people expect is going to happen?
I went shopping yesterday, got food for the week plus some snacks for the Long weekend. 70 dollars.
I recall a time where 70 bucks could buy a lot.
Food producers are getting a free ride with the EBT card. How much of the non essential food group would be purchased by a family on a real budget! While they hit the Gov for maximum return the average family is in that loop. there can be no second tier so while raping the Government. The hard working are in the mix! I would like to be corrected on this but I think EBT card users get a discount @ the register. Guess who picks up that tab!
Oh yes. While the idiots attack Wal-Mart they also shop there.
Grocery will admit the #1 buyer is the federal government.
THERE IS NO INFLATION, CITIZEN!!!
LOL...very good and very funny
Its prolly one of them. Or more likely, it is because the Republicans dont want to see hussein succeed so they got together with the Koch Bros and raised the prices. At least that is what the liberals tell me.
Hail to the chief, and his snow job...
On the other hand... Seniors? Continue to tie their SS checks to inflation without energy or food costs in them. They don't need to eat much anyhow. Put 'em on a diet. They be dyin' soon anyhow...
You had to work for everything, if I didn't do all my chores I didn't get my 25 cent / week allowance.
My parents weren't poor but nothing was for free.
I wanted a bicycle so I got a paper route when i was 8 and bought a used one the second month, 6 months later I bought a Whizzer engine for it.
no one was given a car and I went to work for my father plastering when I was 14 and on my 16th birthday I had a ritchous 40 Ford coupe finished and waiting at the curb when I came home with a license on my 16th birthday.
Was taught by my parents that if you didn't have the money , you didn't need it. i have lived by that rule all my 77 years except for our first home that i took a mortgage on 80% and paid it off in 20 years.
I even waited to buy my airplane until I had the money to pay for it which cost almost 3 times what our house did.
Life in the 40s and 50s was great before government stuck their nose into it.
55 years ago we could see what a socialist mess we were headed for and made the decision not to have kids so they wouldn't have to live through the nightmare.
What we have today we expected at least 20 years ago but due to a small bunch of conservatives fighting it, it was delayed until now.
Eat more Possum!
EPA set to increase ethanol content mandate of gasoline.
Bob Brinker, the weekend radio host of Moneytalk, gets in arguments regularly now with callers regarding food inflation. Brinker claims that inflation is very low and always goes by the official government numbers, while anyone who has actually bought food lately knows the truth.
A large part of it is the ethanol mandates, pouring corn into our fuel tanks instead of feeding people and livestock.
Part of it is the drought in California, pouring water into the Pacific in the name of the smelt instead of watering crops.
If things go really south, I’ve got dinner walking around in my backyard! (Or a free `cat’.)
I’ve noticed groceries going up in price gradually/steadily over the last few weeks/months.
That cat said the same thing about you...
I’m not worried this women explains it all to me:
Only our Washington Royalty didn’t know that food prices have been skyrocketing since Obama took office.
Someone should redo that video with statistics of the misery index, the workforce participation rate, the replacement of well paying full time jobs with part time jobs, headlines about Libya, Egypt, Ukraine, etc.
Maybe it’s ever more money chasing roughly the same amount of food?
Likewise maybe it’s 4 billion dollars a day in new government debt. Do the math and that’s roughly $80 dollars borrowed per day per tax paying employed citizen or $2,400 per month per tax paying employed citizen.
I can think of another meaning for “DOA”...we’re that.
The government now has to defend the petrodollar with everything it has which will lead to major wars; or, turn the weapons on us.
Either way, it’s over, enjoy it while it lasts.
That is a good life my FRiend.
I came with 6 from the bush of AK. As a younger I didn’t see new clothes until 6th grade.
New home in the Southland but very disciplined in the Church and community. All the children had various times to watch after me.
I was caught one time across a 4 lane road at a grocery store.
I was 3 at the time.
I learned from an early age to go get it.
I understand some pain in this world but people that don’t reach for it will never get it.
Don’t expect me to pay for it.
That certainly is not the case, unless you believe in zero-sum theory.
So what is a cost of living?
From what I’ve heard, ‘possum is NOT good eatin’.