Posted on 10/07/2021 2:07:45 PM PDT by blam
Global food prices are outrageously high, and things don't look to be changing anytime soon. Early Thursday, Rome-based Food and Agriculture Organization (FAO) released monthly data on the state of food prices that showed global food prices rose for a second consecutive month in September to reach a new decade high, driven by gains for cereals and vegetable oils.
The FAO Food Price Index (FFPI), a measure of the monthly change in international prices of a basket of food commodities (including cereals, vegetable oils, dairy, meat, and sugar), rose 1.2% in September to 130 points and 32.8% higher than in September 2020.
The latest rise in the FFPI was primarily driven by "higher prices of most cereals and vegetable oils. Dairy and sugar prices were also firmer, while the meat price sub-index remained stable," FAO said.
Compound soaring freight costs on land and sea, along with supply chain disruptions, have left some grocery chains with no other choice but to raise prices and or to leave shelves bare as food shortages persist. An executive of Kroger, one of the largest US supermarket chains, warned last month that grocery prices are set to move even higher as inflation sets in.
Inflationary pressures prompted the White House to calm discontent among working-poor families who allocate a high percentage of their incomes to basic and essential items. The Biden administration acknowledged inflation as a real concern last month (only nine months late). The administration has raised food stamps by 25%.
Besides rising demand (some of which has been artificially produced by massive amounts of fiscal and monetary stimulus), bad weather, and supply chain disruptions, there could be another emerging issue that may pressure food prices even higher, that is, the soaring cost of energy is sending fertilizer, a byproduct of natural gas (natgas prices in some areas around the world are at record highs), higher which would mean crop prices will have to rise. There are also issues of greenhouses growing vegetables going dark in Europe because energy and power prices are too high.
The Federal Reserve's credibility, or whatever was left of it, continues to wane as the "transitory" inflation narrative falters.
It’s a perfect storm. Bad energy policy meets bad monetary policy meets bad spending policies.
At this point only God can help us.
How does this happen?
Did the bad orange man send someone a mean tweet again?
Want lots of cheap food, energy, water, and freedom?
Get rid of Democrats.
Severe drought devastates Washington state’s wheat crop
Start WWIII.
Democrats the destroyer’s of Worlds
Inflation = tax. But hey, a few stimulus crumbs are sure to come our way.
Perfectly stated.
Inflation ($ devaluation) + killing energy production + mobs of government money flooding around.
Yet the dumb harpies still bleat that it's global warming and Trump's fault.
“It’s a perfect storm”.
Yes, it is. It’s all being done intentionally to implement the Great Reset. Death by a thousand cuts.
“Global Food Prices Hit Fresh Decade High”
“Fresh” decade high? Come on, man!
Bad energy policy meets bad monetary policy meets bad spending policies...
The death toll is likely to break ten digits.
Prepper ping
Freeze us in the dark, or starve us to death. It doesn’t matter to them.
The Final Solution is catastrophic population reduction.
I went to the store yesterday and bought two pounds of hamburger. I also bought a CD radio.
The hamburger cost half what the radio cost! Considering that hamburger is the bottom line of beef products I choked at the cost!
In other news, the hamburger cost twice what a good bottle of wine would cost, and the same price as a bottle of whiskey, and what two six packs of beer would cost!
You ain’t seen nothin’ yet.
Yes But! FedGov says there is no inflation.
" It’s a perfect storm. Bad energy policy meets bad monetary policy meets bad spending policies."
AAABEST : " Perfectly stated.
Inflation ($ devaluation) + killing energy production + mobs of government money flooding around.
Yet the dumb harpies still bleat that it's global warming and Trump's fault."
" The FAO Food Price Index (FFPI), a measure of the monthly change in international prices of a basket of food commodities
(including cereals, vegetable oils, dairy, meat, and sugar), rose 1.2% in September to 130 points and 32.8% higher than in September 2020."
"The latest rise in the FFPI was primarily driven by "higher prices of most cereals and vegetable oils. Dairy and sugar prices were also firmer,
while the meat price sub-index remained stable," FAO said.
Compound soaring freight costs on land and sea, along with supply chain disruptions, have left some grocery chains with no other choice but to raise prices
and or to leave shelves bare as food shortages persist.
An executive of Kroger, one of the largest US supermarket chains, warned last month that grocery prices are set to move even higher as inflation sets in."
H/T to Blam ! for keeping us informed of supply chain and global food index.
As the Aussies say: "Good on Ya !"
BINGO !
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.