Posted on 08/15/2007 7:08:15 PM PDT by shrinkermd
MIDLAND, Va. — The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits.
Already stung by a two-year rise in gasoline prices, American consumers now face sharply higher prices for foods they can't do without. This little-known fact may go a long way to explaining why, despite healthy job statistics, Americans remain glum about the economy.
Meeting with economic writers last week, President Bush dismissed several polls that show Americans are down on the economy. He expressed surprise that inflation is one of the stated concerns.
"They cite inflation?" Bush asked, adding that, "I happen to believe the war has clouded a lot of people's sense of optimism."
But the inflation numbers reveal the extent to which lower- and middle-income Americans are being pinched.
The Bureau of Labor Statistics said in its July inflation report that egg prices are 33.7 percent higher than they were in July 2006. Over the same period, according to the department's consumer price index, whole milk was up 21.1 percent; fresh chicken 8.4 percent; navel oranges 13.6 percent; apples 8.7 percent. Dried beans were up 11.5 percent, and white bread just missed double-digit growth, rising by 8.8 percent.
(Excerpt) Read more at mcclatchydc.com ...
i was thinking about joining costco or sam’s club.
which would i get better prices at?
But the government chuckleheads have been telling us along there’s no inflation!...what gives?
What do expect when you post from McClatchey?
I was just at Roche Brothers in Burlington, MA. Peruvian Mineolas and large South African Navel Oranges were both $1.99/lb.
And lock your car doors in the summer or you will find your back seat full of zucchini.
Yep, like the $1.99 special at KFC of chicken fried steak, mashed potatoes, gravy, coleslaw and roll.
With all due respect, it is due to your federal government's insistence that what was formerly food is now to be used as fuel. - even though there are plenty of sources of traditional fuel, and nuclear power available to take off the pressure.
Idiots.
Hillery Clinton can hardly wait to pile drive the economy into the toilet and blame it on the Capitalists.
Either way, the price of housing in this area is insane to the point that folks in the $30K-$70K income bracket are shut out in most places, unless of course they are "undocumented," in which case they basically own the subsidized housing.
‘Make Hay While The Sun Shines’ and all that.
Just the other day I was talking to a farmer harvesting his alfalfa. He figured for the next few years he might do okay - as everyone else in the area is switching over to corn, and he’ll stick with hay as it will be in short supply. (Until the corn growers realize there is a market in hay....). But, he also mentioned the subsidies, so there is another “unnatural” incentive to get into/ stay in corn.
You will, when we start feeding cattle and hogs hops and barley.
Sorry, plain jane Grade A large are $3.00 a dozen in my neck of the woods at Fred Meyer (kroger).
This is classi. Should be carved into the FR Wall of History.
one of my retired-union neighbors thinks just exactly that way.
she seizes on every negative bit of news about the economy,
hates u.s. corporations,
and believes that the end is near for capitalism.
i don’t get it. the wsj is positive about the economy.
>> You will, when we start feeding cattle and hogs hops and barley.
THEY CAN’T DO THAT!!!
(er... can they?)
The corn crop on the Eastern Shore is in VERY bad, and I mean SERIOUSLY bad shape. Sweet corn can be had, but it is a premium price. I about choked paying $5 a dozen for sweet corn about 3 weeks ago. Those prices, because it is scarce probably accounts for the scarcity of it on restaurant menus.
Anyone still think the Fed will be lowering interest rates?
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