Amazing how little effort the author put into proving the basis for his article, that food prices have consistently gone up. And therefore should be expected to do so in the future.
There are really, really good reasons for having a supply of food on hand. But saving money because food prices inevitably go up isn’t one of them.
Here’s how many minutes an employee of median income had to work to purchase a gallon of milk and a loaf of white bread in various past years.
1955 Milk 23 minutes Bread 4.5 minutes
1975 Milk 16 minutes Bread 3.1 minutes
1995 Milk 10 minutes Bread 3.1 minutes
2015 Milk 9 minutes Bread 3.4 minutes
BTW, I picked two random food items to come up with this info.
A VERY large chunk of what people view as increasing food prices is their purchase of prepared rather than staple products. That is a lifestyle choice, not an increase in the price of food. Recently saw frozen PB&Js at Publix, and they weren’t cheap.
Stats aren’t purely comparable because they’re based on median family income, drastically influenced by average family size.
Went back and ran same number for gasoline prices.
1955 6 minutes at median income
1975 7 minutes
1995 4 minutes
2015 8 minutes
Interesting, what?
Yes. what figure did you use for gasoline, it’s been all over the place here.