Posted on 06/20/2021 6:59:27 AM PDT by bert
Free Republic Inflation June 2021 Posting
There are a few of the 20 selected grocery items that have increased in price. At the Food City Chain where I get the price data, there is no across the board increase in prices. In general there is no price increase to report in the June monthly report
As a Media Template, Inflation is a major story of the day. As a result of Biden policies, many think there will be inflation. Milton Friedman taught us that “Inflation is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output.” The $2 Trillion Covid relief plus the 15$ minimum wage plus the forgiveness of college loans all pump money into the economy.
Those actions are the very definition of monetary phenomena. The Bureau of Economic Analysis keeps us informed on the inflation rate but fails in one respect. The inflation information provided leaves out food. So, in the era of Pelosi/Biden induced inflation, bert has developed a basket of 20 common food products and will track prices and compute the inflation rate on the basket total and each individual item at a one month interval.
The reason given for excluding food in the BEA inflation figure is because there are so many variables that effect prices that monetary inflation gets lost in the shuffle. That fact seems to be in evidence in this month’s numbers. The Big Mac that represents all food groups declined in price. So, there will be no attempt to correct for other variables.
One we know that is already happening is China. China is in terrible food shape. Crop failure, massive flooding, swine disease and poor management of stockpiles have forced China to import phenomenally large quantities of soy beans and corn. Brazil is sold out of soy beans. American farmers will pick up all he slack. So, there will be a large China induced food price inflation.
Being bert and being conservative, I choose to ignore China and blame all the food price increases on Pelosi/Biden The second monthly food inflation presentation is posted below. There is no general food inflation noted for the June Report although other inflation is the news of the day Will it happen?
As President Trump was fond of saying……..We’ll see
| Item Cost | Measure | January | June | Increase |
|---|---|---|---|---|
| Bread | 2# Loaf | $1.69 | $1.69 | 0% |
| Eggs | 1 dozen | $$1.99 | $1.99 | 0% |
| Bacon | 12 ounces | $4.99 | $4.99 | 0% |
| Ground Round | 1 pound pkg | $4.19 | $4.19 | 0% |
| Hot Dogs Oscar Mayer | 10 count | $2.99 | $2.99 | 0% |
| Zesta Saltine Crackers | 1 Box | $1.49 | $1.99 | 34% |
| Campbell’s Tomato Soup | Can | $1.00 | $1.25 | 25% |
| Le Suer Green Peas | Can | $1.89 | $1.89 | 0% |
| Campbell’s Pork and Beans | Can | $0.69 | $0.69 | 0% |
| Kellogg’s Frosted Flakes | 13.5 oz Box | $2.99 | $2.99/td> | -16% |
| Pic Sweet Frozen Corn | 28 Oz | $3.29 | $3.29 | 0% |
| Holly Farms Chicken Breast | Per Pound | $1.99 | $1.99 | 0% |
| New York Select Strip | per pound | $11.99 | $12.99 | 8% |
| Milk 2% | per Gallon | $1.99 | $1.99 | 0% |
| Water | 6 pack | $3.99 | $2.29 | -50% |
| Maxwell House Coffee | 11.5 Oz | $3.99 | $3.99 | 0% |
| Coca Cola | 12- 12 Oz | $5.99 | $5.99 | 0% |
| Budweiser Beer | 6 pack 12 Oz | $7.29 | $7.29 | 0% |
| McDonalds Big Mac | Each | $4.29 | $4.59 | 6.5% |
| Basket Total | $71.07 | |||
The various grocery items are those in common usage. Both National and Store brands are represented. Prices are taken from the local grocery store website and are current on the fifteenth of the current month.
Thanks for the research
Utter nonsense.
At Food City the Swagerty Hot Sausage Patties(Box of 18) used to sell
for $4.99 3 months ago. Recently the price was $8.99.
Don’t tell me inflation is not happening.
Biden kissed stable prices good-bye when he killed the Keystone Pipeline project on day one of his administration. That policy change takes time to work through the supply chain, but it will. Fuel prices affect everything, especially in the food industry from the fuel used to cultivate the fields, to harvesting, to get it to the processing plants, and finally to the distribution points.
I think all of us are learning that “Green Energy” refers to the dollars all this BS will take out of our pockets.
It’s doubtful that the public will make the connection between stimulus money and inflation. The Democrats are wrecking the economy to buy votes, counting on their base’s ignorance not to figure it out. Expect big checks before the 2022 midterms.
Save this food list and “re-buy” it a month from now. Also, make sure you watch the weight/count statistics. Food companies know you want prices, but not necessarily ounces or counts.
...know you want prices...
should be:
...know you watch prices...
If the problem were caused by crop failure in Red China, price spikes would be as temporary as hand sanitizer shortages were. We still import a lot of food we can grow in Red China (check you apple juice aisle). The fact is we could MASSIVELY increase our food output without breaking a sweat, but don’t, because it doesn’t presently pay enough (despite ethanol mandates increasing price of corn). It doesn’t pay enough in part because of cheap food imports. Most of the present spike is due to inflationary pressures (monetary policy) cited in the article which is also reflected in other commodities.
Exactly. What was a pound is now 12 and in some cases 10 ounces. That has been happening since the mid 2000’s.
On the list:
“Zesta Saltine Crackers 1 Box $1.49 $1.99 34%”
ALDI saltines are usually under 90 cents per box. They even have the ‘unsalted’ ones.
As far as brand is concerned... the ALDI crackers are as good and even better. They are always very fresh, because they sell so much.
Also-all of the ALDI bread, buns, chips etc. are great and tons less expensive! I was never loyal to brands so it works out for me, on stuff like that.
It has been going a long time...the amount you got was less and less for the same price..
Rib eyes steaks in Walmart...9.97 now 14.47...in six months
Note for southwesterners: the Food City chain cited is NOT the same as the Food City in the southwest, which is part of Basha’s.
Exactly, anyone saying it’s not happening hasn’t shopped lately.
Meat in particular is through the roof.
“weight/count statistics”
Xcellnt point as quantities/weight on many of my items have decreased price remains the same.
Kinda like a slight of hand trick
Some are quite devious. My bar of Dial soap has been on a diet for years now, even though the box is the same size. First, they whipped air into it, so it disappears faster. Then they changed its shape to make it “easier to grasp while bathing”. It’s only by accident that it also lost weight during its “shape change”. All of this is nothing more than a price increase.
thanks for the data
Aldi recently dropped the weight on a box of Pasta by 4 OZ same price.
They are all doing it
Milk!
OH GOD!!! NOT MY ZESTA SALTINE CRACKERS!!! PRICE UP 34%. How can I survive? (Psst! Coupons now more than ever.)
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.