There is in progress significant inflation in various components of the Consumer Price Index other than food. The anticipated food inflation has simply not occurred as evidenced by the actual survey of prices for the 20 items on the list.
A search for a graphical presentation of the inflation of the various CPI components did not yield a meaningful graphic. Perhaps someone with a better grasp of the overall situation can post one.
| Item Cost | Measure | January | July | Increase |
|---|---|---|---|---|
| Bread | 2# Loaf | $1.69 | $1.69 | 0% |
| Eggs | 1 dozen | $$1.99 | $1.79 | -10% |
| Bacon | 12 ounces | $4.99 | $4.99 | 0% |
| Ground Round | 1 pound pkg | $4.19 | $5.99 | 43% |
| Hot Dogs Oscar Mayer | 10 count | $2.99 | $2.99 | 0% |
| Zesta Saltine Crackers | 1 Box | $1.49 | $2.49 | 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 | -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 | $11.99 | 0% |
| Milk 2% | per Gallon | $3.99 | $3.99 | -7.5% |
| Water | 6 pack | $3.99 | $3.99 | 0% |
| 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 | $75.37 | |||
| Percent Increase | 3.3 % |
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.
bert:" The Bureau of Economic Analysis keeps us informed on the inflation rate but fails in one respect.
The inflation information provided leaves out food.(Say What ?; Emphasis mine)"
"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.
(My comment) Food is volatile, and varies according to the season, and conditions of nature, according to tillable land available (rain, snow, hail, flooding, etc.)
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 stock piles 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."
Even cat and dog food prices are up.
My one pound TV dinners I have bought for years, are now suddenly 13.1 ounces (for same price). I remember when Obama was the fake Prez bottles (in a six pack) of pop became 16.9 oz, can’t remember if they were 20 oz or 24 oz before.