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Hidden Inflation: Food Prices Flying Under the Fed's Radar
Money Morning ^ | 1/28/2011 | JASON SIMPKINS

Posted on 01/28/2011 1:14:42 PM PST by FromLori

Soaring food prices have been, perhaps, the most pressing global issue of the past two years – yet the U.S. Federal Reserve has taken a "hear no evil, see no evil, speak no evil" approach to the global crisis.

Instead, the Fed has dutifully maintained its focus on so called "core inflation" in the United States – even as Americans suffer the consequences of the "hidden inflation" the government refuses to account for.

The Federal Reserve excludes food and fuel prices from its preferred gauge of inflation because they are often influenced by erratic weather patterns and political turmoil. That at times has been the case over the past few years.

(Excerpt) Read more at moneymorning.com ...


TOPICS: Business/Economy; Miscellaneous; News/Current Events
KEYWORDS: bananarepublic; commodities; economy; food; foodcrisis; foodinsecurity; foodprices; foodriots; foodshortage; foodshortages; inflation; qe2; stimulus; yeswecan
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To: engrpat

How about the packages shrinking now you have to buy 2 can’s of things to fit a recipe. It’s terrible but I think it will get even worse.


21 posted on 01/28/2011 1:41:56 PM PST by FromLori (FromLori">)
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To: FromLori
The Federal Reserve excludes food and fuel prices from its preferred gauge of inflation

There you go. The 2 items everyone is most conscience of.
Food is way up. Kraft mayo in 30 oz. jars now instead of 32 oz. Many pasta items in 12 oz boxes instead of 16 oz. coffee 12 oz pound.

22 posted on 01/28/2011 1:42:11 PM PST by Vinnie
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To: FromLori

The Federal Reserve excludes food and fuel prices from its preferred gauge of inflation because they are often influenced by erratic weather patterns and political turmoil
‘’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’

The price of food is going up and the Government is feeding us Bulls***

It is excluded because it would show the truth.


23 posted on 01/28/2011 1:44:10 PM PST by Venturer
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To: Vinnie
The Federal Reserve excludes food and fuel prices from its preferred gauge of inflation

Well, come July, expect to pay more for McChinese crap.

The Tariffs are going to kick in and then its bye bye cheap Chinese manufactured goods.

24 posted on 01/28/2011 1:46:52 PM PST by mylife (Opinions: $1.00 ~ Halfbaked: 50c)
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To: FromLori

yes and so is gas...where is the shortage?


25 posted on 01/28/2011 1:52:58 PM PST by dalebert
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To: Bullish; CJ Wolf; houeto; Quix; B4Ranch; Whenifhow; Silentgypsy; blam; FromLori; Lurker; ...
No-soup-for-you ping.

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

26 posted on 01/28/2011 2:02:18 PM PST by The Comedian (Stop voting for The Government Party)
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To: The Comedian

Another 125 pounds of flour into the larder.


27 posted on 01/28/2011 2:14:23 PM PST by Little Bill (Harry Browne is a Poofter.)
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To: FromLori
The Federal Reserve excludes food and fuel prices from its preferred gauge of inflation because they are often influenced by erratic weather patterns and political turmoil

They are also influenced by inflation. Go figure!
28 posted on 01/28/2011 2:22:43 PM PST by CottonBall
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To: familyop

If you live in an apartment in a city,you can’t grow enough to make a difference,if you can grow anything at all besides a windowsill herb garden.

The prices are becoming unreal. Anybody who is having a tough time should learn to coupon and shop the sales and special deals. You can get decent food with coupons,it isn’t all junk,just match the coupons with a sale. I know this goes a little beyond what you posted,but I’m hoping it might help somebody who needs it.


29 posted on 01/28/2011 2:24:42 PM PST by FreeDeerHawk
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To: agere_contra

There ya go ... more proof of Global Warming.


30 posted on 01/28/2011 2:25:16 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: FromLori

This is the Ben Bernank’s version of “Let them eat cake!!!”

Only little people have food inflation!

They do know PRESCIOUSLY what they are doing.


31 posted on 01/28/2011 2:29:21 PM PST by TruthConquers ( Delendae sunt publicae scholae)
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To: FromLori

As a baker, I have seen chocolate double in the last 2 years, and sugar is worse than that. Many many foods have had the sizes change and the price stay the same.


32 posted on 01/28/2011 2:33:48 PM PST by Grammy ( TSA “We handle more packages than UPS.”)
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To: Nachum

That is how we shop too,plus combining coupons with sales and special manufacturer’s promotions. ( like buy x amount,get y amount off at the register or off your next order).

Some of those loss leaders are excellent.


33 posted on 01/28/2011 2:43:42 PM PST by FreeDeerHawk
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To: dalebert

I’m sure world oil prices will continue to trend up as the tumult in the mideast continues.

Baraq’s fault!


34 posted on 01/28/2011 2:47:00 PM PST by nascarnation
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To: FromLori

By the way,as far as I know,people who get “food stamps” can use coupons to lower their grocery bills. I spend less for two adults not on any aid per week than a disabled friend of mine gets
for one adult in food stamps.


35 posted on 01/28/2011 2:49:46 PM PST by FreeDeerHawk
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To: The Comedian

Honestly, why should they care?
They know that they will, strictly speaking, ALWAYS have enough money to provide food for themselves so long as they can produce/print the money.


36 posted on 01/28/2011 2:54:16 PM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: FromLori

Food prices soaring? Let’s subsidize corn farmers to grow corn for fuel.
Overpriced subsidized fuel. And the prices of food grow.
What a bunch of dumb asses.
And let’s subsidize Florida sugar farmers to pollute Florida? So we pay a higher price for sugar the the rest of the world.
What a bunch of dumb asses.
I can go on here. For quite a long time.


37 posted on 01/28/2011 3:23:41 PM PST by Joe Boucher ((FUBO))
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To: nascarnation

does anyone think we are winning the war on terror...


38 posted on 01/28/2011 3:31:20 PM PST by dalebert
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To: FromLori
Hidden Inflation: Food Prices Flying Under the Fed's Radar

That was a deliberate and criminal act by our Soros regime bureaucrats.

To delete two basic necessities, energy and food, from the cost of living calculations is both irrational and calculated. Calculated to deceive, and nothing else.

39 posted on 01/28/2011 6:00:28 PM PST by Publius6961 ("In 1964 the War on Poverty Began --- Poverty won.")
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To: Nachum

It’s how I always shop, I was a single mom for 10 years, then money was still tight after I remarried. So I never lost the habit.

Rummage sale, Salvation Army for most clothes. Under wear (won’t wear used) and shoes are the exception, as I wear such a small size and must have quality shoes because of my feet/leg problems. Have to fit those high $$ custom inserts into my shoes.

Kroger’s has ecoupons that you can use with regular ones. TN Kroger’s doubles value up to 60 cents for manufacture coupons. BOGO for vitamins with coupons is a must.

I have a full freezer, pantry, and pretty much full cleaning, hair, grooming, toothpaste, TP stocked for 3 months at the least for 2.

Bread, dairy, eggs are the only thing you can’t stock to far in advance. But you can stock flour, cornmeal, shortening, baking soda/powder to make simple biscuits or cornbread.


40 posted on 01/28/2011 6:48:44 PM PST by GailA (2012 rally cry DEMOCRATS and RINOS are BAD for the USA!)
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