Food Inflation at a 17 Year High

[erpowers]

MSNBC is reporting that food inflation is at a 17 year high. As a result stores across the country are raising their prices. The problem is even affecting food banks in that one food bank received a letter from its vendor stating they (the vendor) would be raising prices 20 percent.

http://www.msnbc.msn.com/id/24127314

[Frustratedlady]

1. WHERE are they getting these figures?

"U.S. food prices rose 4 percent in 2007, compared with an average 2.5 percent annual rise for the last 15 years, according to the U.S. Department of Agriculture. And the agency says 2008 could be worse, with a rise of as much as 4.5 percent."

Note ot government: The price increase is much, much higher. For example, bananas ran 29 cents/lb. a year ago and are now 79 cents. Meat is out of sight. Milk is like gold. Give me a break.

They are hiding the true numbers, which only makes them look worse. Ask any grocery shopper and they will give you the numbers.

[pitohui]

4. i agree w frustrated lady

prices soared, sometimes up two or three times the original price, after hurricane katrina and never went back down here

no way this is a mere 4 percent!

inflation rate is much, much higher than they admit to -- bananas were 25 cents a pound (at least on sale) around here from the 1970s until 2005, now they never go below 50 cents a pound, one apple, i don't mean one pound of apples but one miserable apple is $1!

[MadHound]

5. These are averages

Some food products haven't risen as much as others, some areas are experiencing less inflation than others. Here in the Midwest, beef is probably lower than the east coast because cattle are more readily available than out east. Contrariwise, seafood here in the landlocked Midwest is much more expensive than on the coasts.

These are average figures, across the country. Your particular mileage may vary, widely.

[Johnny Appleseed]

2. ...

I about fell over when I saw the price for a package of ground beef yesterday. Glad I don't got a family to feed right now.

[EstimatedProphet]

3. This is not a nationwide phenomenon

For one reason or another, prices simply haven't risen here yet.

[Frustratedlady]

6. I can't imagine that. I'm in Iowa and they have risen in nearly all areas.

Fruits and veggies, meat, milk products...the list goes on and on.

You are fortunate, if you haven't been hit.

[EstimatedProphet]

7. And I'm counting my blessings too

I've heard people talking about rising food prices, and we've been really lucky so far, for some reason.

[TwixVoy]

8. You ARE checking grocery store prices, right?

Not the McDonalds dollar menu?

I think either

1. You haven't paid close enough attention to prices at the grocery store

or

2. Are getting your food either directly (or VERY close to being directly) from the source.

[EstimatedProphet]

10. You mean the McDonald's dollar menu doesn't count?!?

:eyes:

Chicken breasts: $1.57/lb, boneless/skinless
Asparagus: $1.99 lb.
Green peppers: 3/$2
Pork loin: $1.87/lb.
Thick cut bacon: $1.89 lb.
Green onions: 3 bunches/$2
Yellow onions: 3lb. bag - $2
Idaho Potatoes: 5 lb. bag - $2.50
Bread, bakery fresh: $1.79/loaf
Brown eggs: $1.50/doz.
Is that enough attention to the prices?

[TwixVoy]

11. What grocery store are you checking?

What grocery store are you checking?

[EstimatedProphet]

12. Kroger

[Ichingcarpenter]

9. 1 in 10 Americans are projected to be on Food Stamps by next year

According to Rachel Maddow on KO

[taught_me_patience]

13. Whew... good thing food isn't factored into core

inflation! Since core inflation is not rising, Bernanke can drop the interest rate again!