Skip to comments.U.S. Food Inflation Running At 22%
Posted on 05/26/2014 7:12:08 PM PDT by blam
Chriss W. Street
26 May 2014
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.
But large and lasting effects on agricultural production in California will be avoided this year by pumping 5 million acre feet of groundwater from underground lakes, known as aquifers. The aquifers are a relic of the era when the Pacific Ocean covered much of the state. California has over 850 million acre feet of water stored in 450 known groundwater aquifers, enough to cover the state to a depth of 8 feet.
(Excerpt) Read more at breitbart.com ...
The feral government has been telling us that the reason we are so fat is because food is too cheap.
Who said the feral government can't do anything right?
Bob Brinker, the host of the radio show Moneytalk thinks anyone who claims that food prices have gone up much faster than the low official government numbers is a kook. I used to respect Brinker.
Hussein doing a good job. Yes we can and all that BS.
. . . and my garden gets bigger and bigger.
Bottom line = less product for the same about of money.
Exactly. Last week I saw story after story saying that food is too cheap.
smart gardener! Go bigger! No Glyphosate or GMO. All will be in abundance!
Haven’t listened to him in a long time. Guess just as well.
The list, Ping
Let me know if you would like to be on or off the ping list
No inflation except on trivial things like food, gasoline, utilities, healthcare.........
I just had dinner with a couple Chinese restaurant owners, they say wholesale food prices are killing them.
“Exactly. Last week I saw story after story saying that food is too cheap.”
I think Obama thinks gas is too cheap too.
I quit listening to Brink head when I heard he supported the O
so... invest in food stocks as the prices will be soaring
Brinker and Ric Edelman scare me. All this happy talk. It’s like they don’t even see the 100’s of trillions in debt.