Posted on 03/16/2011 9:27:01 AM PDT by Nachum
If grocery bills seem higher, youre not imagining things. Thanks mostly to a sharp increase in fuel prices, the cost of food rose faster in February than in any month since November 1974 not coincidentally, during a previous energy crisis:
Wholesale prices jumped last month by the most in nearly two years due to higher energy costs and the steepest rise in food prices in 36 years. Excluding those volatile categories, inflation was tame.
The Labor Department said Wednesday that the Producer Price Index rose a seasonally adjusted 1.6 percent in February double the 0.8 percent rise in the previous month. Outside of food and energy costs, the core index ticked up 0.2 percent, less than Januarys 0.5 percent rise.
Food prices soared 3.9 percent last month, the biggest gain since November 1974. Most of that increase was due to a sharp rise in vegetable costs, which increased nearly 50 percent. That was the most in almost a year. Meat and dairy products also rose.
(Excerpt) Read more at hotair.com ...
I’m sure none of us who actually lived through the Carter Administration seriously thought about voting for Barry for a nanosecond. Problem is, that was a looooong time ago. And plenty of voters are now registered who have no memory of that time.
“Since 1974! I hear a song playing.
Welcome back Kotter (Carter).
Lets see:
Nuclear disaster. Check.
Mideast regimes falling. Check.
Runaway inflation. Check.
NASA turmoil. Check.
Lack of confidence in USA. Check.
Disco music. (well you cant have everything matching)”
We could substitute Rap for Disco. They both suck and are easy to write and dance too.
A very astute statement. So true.
“The cost of transporting food has gone up because of the increase in gas prices therefore the cost is partially laid on the consumer in increase food prices.”
The big corporate farms have to adjust their prices to accommodate the increase in fuel prices, and the plants that process, can and package food have to increase prices for their increased energy costs, and then the truckers have to get higher rates for hauling to cover their fuel prices. We should include the increased cost of freezing and storing food. (And every trucker understands that tires go up in price when oil goes up). Then we have the end consumers who are budgeting more money for fuel and less for commodities, not to mention the fact that they are still paying more for less, and we have inflation ordinary people feel. Not even the media can hide it by ignoring it.
This continues to blow my mind. Logically, I KNOW why inflation is being somewhat kept in check - our Government keeps printing money! BUT - can someone explain to me when this rubber band is going to snap? I lived through The Carter Years - I find it hard to believe that we can stave off seriously rising inflation for much longer.
http://www.miseryindex.us/irbyyear.asp (Inflation)
http://www.miseryindex.us/urbyyear.asp (Unemployment)
I think it was higher than that. Lots of things took a 100% jump, oatmeal was one of them. Went from 95 cents a box to $1.95 for same size box.
Has any one compared products like cleaners, shampoo or other hair grooming aids? They are up over a $1 or more than they were a year ago. Especially laundry products.
Not only no COLA for SS, but no Military pension raises either...plus they tagged us for over $300 MORE in taxes on hubby’s Navy pension this year. They got $120 MORE in ‘09.
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