Posted on 08/20/2014 5:47:09 AM PDT by xzins
(CNSNews.com) – The average price for all types of ground beef per pound hit its all-time high -- $3.884 per pound -- in the United States in July, according to data released today by the Bureau of Labor Statistics (BLS).
That was up from $3.880 per pound in June. A year ago, in July 2013, the average price for a pound of ground beef was $3.459 per pound. Since then, the average price for a pound of ground beef has gone up 42.1 cents--or about 12 percent.
Five years ago, in July 2009, the average price for a pound of ground beef was $2.147, according to the BLS. In those five years, the average price has climbed by $1.737 per pound--or almost 81 percent.
Along with the average price data, the BLS calculates a consumer price index, which is a “tool that simplifies the measurement of movements in a numerical series,” explains BLS. “An index for 110, for example, means there has been a 10-percent increase in price since the reference period.”
beef
The consumer price index for seasonally adjusted uncooked ground beef was 270.724 in July, which is down slightly from the all-time high of 271.726 in the previous month of June. When BLS began tracking this index in January of 1947, the index stood at 26.5.
The CPI is simply the average change over time in prices paid by consumers for a market basket of goods and services.
The seasonally-adjusted price index for meats, poultry, fish, and eggs also hit an all-time high in July, according to BLS.
In January 1967, when the BLS started tracking this measure, the index for meats, poultry, fish, and eggs was 38.1. As of last July, it was 236.147. By this January, it hit 240.006. By June, it hit 253.318. And, in July, it climbed to a record 254.174.
“The food index rose 0.4 percent in July, its fifth increase at least that large in the last 6 months,” states the BLS. “The index for meats, poultry, fish, and eggs has increased 7.6 percent over the [last 12 months] and the index for dairy and related products has risen 4.3 percent.”
Thank goodness for Ad-Block. That photo is now blocked! What a mean looking.... Imagine having to work around her. Just the alcohol fumes would knock most over!
It also buys 2 times as much land as 7 years ago though.
Bubble markets work that way.
Is your grocery bill just a fraction of what it was 3 years ago? How about your power bill or insurance bill?
Got a kid in college? Is your bill down there?
So you're saying it doesn't have a stable value?
The dollar hasn’t had a stable value for years as it is a fiat currency, and as such is a political tool.
Comparing the dollar to an overinflated commodity means nothing. Gold hit a bubble price and the bubble popped, as did real-estate in the US.
Comparing the dollar to a real market basket of products that is the same year after year, is representative of normal buying habits, and isn’t cherry-picked to skew the results does mean something. In this comparison, you can see the dollar has lost nearly 90% of its purchasing power since the 60s, an is still headed down. There are minor blips here and there, but the decline is very predictable.
Gas prices are up. Corn prices are up.
Production and transportation costs are up.
It's the economy stupid. Someone on radio was saying that the GOP will lose running on that issue as they did in 2012. Funny how it worked for Dems in 1992 and the MSM used that talking point for the first 10 minutes of election night returns in 2004.
73% lean ground beef is an oxymoron.
A happy dog makes better eatin.
“73% Lean” translates to “127% Flavor” hahahaha!
Whatever became of obama’s dog?
Maybe... http://doghalloweencostumesshop.com/images/thumbnails/hot-dog-with-mustard-dog-costume.JPG
LOL.
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