Food Inflation

[HDRider]

Prices of some staples have been driven sky-high. Some of the truly startling annual numbers from Friday's Producer Price Index:

• Beef and Veal: +59.2 percent
• Pork: +34.1 percent
• Chickens: +32 percent
• Fish: +18 percent
• Turkey: +41.4 percent
• Fresh eggs: +31.7 percent

Shortening and cooking oils are up a jaw dropping 43.5 percent.

Not all food prices are up, of course. Dairy prices are down. Fresh fruits and vegetable prices have fallen (although canned fruits and vegetable prices are up).

Grain prices are up an incredible 98 percent

Producer Price Index by Commodity: Processed Foods and Feeds: Beef and Veal Products, Fresh or Frozen

Graph and download economic data for Producer Price Index by Commodity: Processed Foods and Feeds: Beef and Veal Products, Fresh or Frozen (WPU022101) from Jan 1947 to Feb 2024 about meat, processed, food, commodities, PPI, inflation, price index, indexes, price, and USA.

fred.stlouisfed.org

Food Inflation Hits Record High, Prices Up Sharply on Beef, Chicken, Pork, Turkey, Eggs, and Fish

Putting food on the kitchen table has become much more expensive, squeezing household budgets at a time when many families are already stressed by the | Economy

www.breitbart.com

 

[TennesseeTuxedo]

It's all purely transitory. Nothing to worry about.

 

[branxchar&charx]

It's all purely transitory. Nothing to worry about.

Yep! Within a year, all prices will go back to normal so long as every single person gets the vaccine and ALL follow up boosters.

 

[HDRider]

Prices should be expected to rise another 2-3% in the second half of this year, according to Kroger CFO Gary Millerchip on Friday, adding Kroger will be "passing along higher cost to the customer where it makes sense to do so," The Epoch Times reported.

The White House is blaming the major meat packers for the rising costs for beef, poultry, and pork, despite record profits amid the pandemic, according to the report.

"If we talk of 2022, it is likely that input cost inflation will be higher next year than this year," Nestle CFO Francois-Xavier Roger said at a consumer staples conference, the Times reported.

Top Grocer Kroger Warning About Rising Inflation, Prices

Inflationary pressure on prices is going to continue, an executive from a major U.S. supermarket chain warned this week.Prices should be expected to rise another 2-3% in the second half of this year, according to Kroger CFO Gary Millerchip on Friday,...

www.newsmax.com

 

[TennesseeTuxedo]

I'm cutting back.

 

[Chevy]

Yep! Within a year, all prices will go back to normal so long as every single person gets the vaccine and ALL follow up boosters.

Yea I don't think so. With some minimum wage being $15 every else has to go up. It's all a numbers game. Minimum wage goes up everybody that was making $15-60 will want a raise. Every has to go up to pay for the $15 an hour minimum wage workers. I could be wrong but I don't think so.
My friend that works at FedEx started out $12 something an hour 2 years later she said she makes $21.10. Quickest I've ever of somebody getting raises from $12 to 21. Guess like fast food workers going from $7-8 to $15.

 

[Chevy]

View attachment 8285
I'm cutting back.

I do that with fish.

 

[Ky hills]

Wife said Blue Bell ice cream had went from $8 to $11.

 

[wbvs58]

View attachment 8285
I'm cutting back.

Hey Tux, where did that come from? Bass Strait is in Australia between the mainland and Tasmania, a couple of big islands in it that grow high quality pasture fattened cattle.

Ken

 

[TennesseeTuxedo]

Hey Tux, where did that come from? Bass Strait is in Australia between the mainland and Tasmania, a couple of big islands in it that grow high quality pasture fattened cattle.

Ken

Costco

 

[Dave]

I haven't noticed any of that here and I do 90% of the grocery shopping. But I don't buy meat, eggs, fresh, canned or frozen fruit and vegetables, and I am pretty serious about shopping sales. Flour, sugar, cooking oils, etc regularly come up on sale. We have a big pantry which gets well stocked with none perishables when those things are on sale.

 

[jltrent]

I grow a lot of what I eat so store prices doesn't affect me to much. I got a craving for beets today an ate almost a quart. Those peanut beans and incredible corn taste good also. Had stuffed bell peppers. okra, with potatoes as everything is home grown.

 

[greybeard]

They ain't cheap but sure are good.

https://www.heb.com/product-detail/h-e-b-prime-1-beef-new-york-strip-steak-boneless-value-pack-usda-prime-4-5-steaks/1236323

 

[Son of Butch]

Restaurant owner in TV interview today said he's taken brisket off the menu because the brisket flats he was buying for $50 delivered are now $110 and sandwiches wouldn't sell at the price he needed to turn a profit.

 

[Nesikep]

Prices should be expected to rise another 2-3% in the second half of this year, according to Kroger CFO Gary Millerchip on Friday, adding Kroger will be "passing along higher cost to the customer where it makes sense to do so," The Epoch Times reported.

Do tell.. in what situation is it not going to make sense? lol

 

[shaz]

I'll bet the FED puts a much lower number on inflation that what's really going on.

 

[HDRider]

Do tell.. in what situation is it not going to make sense? lol

I guess where it might curb sales on a high margin product.

 

[HDRider]

I'll bet the FED puts a much lower number on inflation that what's really going on.

You think the government lies?

 

[Named'em Tamed'em]

Yea I don't think so. With some minimum wage being $15 every else has to go up. It's all a numbers game. Minimum wage goes up everybody that was making $15-60 will want a raise. Every has to go up to pay for the $15 an hour minimum wage workers. I could be wrong but I don't think so.
My friend that works at FedEx started out $12 something an hour 2 years later she said she makes $21.10. Quickest I've ever of somebody getting raises from $12 to 21. Guess like fast food workers going from $7-8 to $15.

My nephew 16yo started at McDonald's in fresno California last week at $16/hr

 

[J+ Cattle]

With some minimum wage being $15 every else has to go up. It's all a numbers game. Minimum wage goes up everybody that was making $15-60 will want a raise. Every has to go up to pay for the $15 an hour minimum wage workers.

I think the workers that are making $15/hr at fast food franchises are in for a rude awakening when they begin to be replaced with more automation and technology. No more will they be paying $15/hr for someone to take you order, instead you will enter it yourself on their app or on a touchscreen at the drive through. You will pay by credit or debit card, swipe it yourself, so no employees are handling money. Add a few more machines and then all you need is one worker that keeps the burgers loaded in the machine ready to drop on the grill. Then those unemployed workers will be the responsibility of the government (via the taxpayers) to care for and provide for. Next step is we need to raise taxes to cover it all. Politicians don't seem to understand economics or don't care.