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.”
Was just at the grocery store. This is true.
But there’s no inflation, because people will choose ground turkey instead, right?
Boy, these folks aren’t slow on the uptake(sar.) Beef prices have been through the roof for years. At my local Shop Rite sirloin steak is $12.99 a pound.
Looks like pasta fazool again tonight, dear.
Ground turkey....what does Obama call that...chained inflation?
Despite what we think ground turkey is at a premium. I looked at it. Just as expensive.
I’m thinking ground roadkill is the choice Obama would point us to
Peasant! You shall eat gruel! It is good for you.
We neonobility shall eat the beef. Since there’s so few of us, it won’t harm the earth. Eating beef is not something EVERYONE can do, or we’ll deplete OUR resources.
Have you seen the price of beans!
Our grocery store is now hiding the price increases in their new deal promotion. Buy 5 designated packages for $20. I was impressed, as customers browsed this section commenting on how the packages are smaller than average and purchasing this way actually got you LESS, while you thought you might be getting 1 package FREE. It really smacks of false advertising of value for your money.
Unfortunately, yes. I scarf them up during the “can-can” sales.
And don’t kill the King’s deer!
Profit taking.
The price of corn is crashing (so much so it is going to hurt the economy). One of the major buyers of our beef, pork, and chicken is mad at us (Russia) and has cut off imports.
The drought is shifting beef production away from the Plains to the Midwest, but numbers are still good.
In other words, be careful buying to many beef futures.
Even a bag of dry beans has doubled in recent memory.
I watched two talking heads on TV a while ago debating inflation. The Obama apologist said words to the effect of "when you look at the core rate, excluding food and gasoline, there is very little inflation."
The other guy said, "well it's a good thing families don't have to buy food or gas then."
Debate over.
You can have the ground beef (don’t look now...but guess what’s back...):
http://online.wsj.com/news/articles/SB10001424052702303749904579579991127674958
I buy the sirloin and they grind it in front of me.
I grew up eating so-called “peasant cuisine”, so I’ve got plenty of cheap recipes that I actually enjoy eating.
Steam 1 batch escarole - save the water.
Cook a box of ditalini in the water so it reabsorbs the vitamins.
(add a little oil & salt to keep from sticking and raise the temp a bit)
Strain
Add beans (kidney, cannelloni, whatever).
Sprinkle with grated parmesan.
You could eat for a week.
(btw - I sometimes save the pasta water - I pour it hot to kill the weeds in the sidewalk cracks, or let it cool and water the garden).
Costs a few bucks and feed
There’s no inflation because the government doesn’t include food in the inflation statistics. Its a joke. The whole freakin country knows that food prices have been skyrocketing for the past 5 or 6 years, either by actually going up or by the amount in each package going way down.
My lib-in-law even denies that food prices are going up (and especially denies that it’s because of Obama policies).
There is no inflation because the price of giant wide screen HDTVs has been coming down and the price of a Mercedes Benz SLS is just about the same as last year.
If the rise in food prices was important the Obama administration would tell us.
/s
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