Wednesday, September 14, 2011

Food Prices Soar by 13.2% in August

The Producer Price Index for finished goods was unchanged in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today.

The unchanged number was largely the result of a decline (likely short-term) in energy prices. However, deeper into the numbers, there's great concern at a very basic level, food prices are skyrocketing.

The index for finished consumer foods jumped 1.1 percent (13.2 percent annualized) in August, the third straight rise. Over thirty percent of the August advance can be traced to meat prices, which climbed 2.4 percent (28.8 percent annualized). Higher prices for processed poultry and eggs for fresh use also were major factors in the increase in the finished foods index.


  1. Your Owners need high inflation as a real-time default on the debt. Expect general prices to double in the next 3 years.

  2. Bernanke's magic is working - prices shooting up with almost no one taking notice. Inflation will 'solve' the debt and deficit problems ... until the peasants find out.

    It's the 1970's all over again!!

  3. In a related development, it was a banner year for farmers in California's Central Valley.

  4. I went to Kroger the other day to buy eggs. The last time I bought some, they were $2.89 for 2.5 dozen. When I went in the other day, they were $3.89. I went to Walmart thinking I could get them cheaper, but their box of 60 eggs went from a little over $7.00 to over $9.00.

  5. I moved to Hong Kong in February this year. My favourite box of cereal cost 27 HK-dollars at that time. Now in September the price is 30 HK-dollars.

    The food prices in Hong Kong are absolutely ridiculous and it's hurting the working class a lot. Read a report that around 400 000 children in Hong Kong are malnourished. Not to the extent of, say sub Saharan Africa, but still, they are not getting enough food everyday because their parents can't simply afford it.

    Of course, the Hong Kong dollar is pegged to the US dollar so inflation is rampant, just like it is in China.

  6. ...and that is for diseased eggs who's mothers were fed corn and other dead birds, injected with antibiotics and never even see the light of day. A dozen eggs that come from hens that actually eat grass will cost you $7.00. We are being robbed and for horrible food!!!

  7. There is no inflation! Just don't drive, eat, or buy a product that is related to food or gas, and you won't even notice it!

  8. Thanks Mr. Obama and all of you who voted for him. You've really stimulated our economy with your spending (rather giving to your friends). Oh, I suppose this is George Bush's doings as well. How many of you losers will try to vote him in again?

  9. Bought a "case" of Sprite the other day. Apparently a case is now a word for any size box they choose. It only had 20 cans in it.

  10. Uh, Obama is just a newer version of Bush when it comes to economic policy - your Handlers will not allow anyone to "change" anything, so why do you persist in thinking that this bad theater called American Politics is anything but a scam to keep you thinking your worthless vote actually matters?

  11. Whenever I have a little time I write on my worthless paper money in red marker, "Inflation is a hidden tax". Its my duty to educate.

  12. Every dollar you spend, is a vote. That is what the masses do not realize. Each and every dollar spent tells these corporations what to buy again. So, they do, then we do.

    It's a vicious circle-jerk, with US at the wheel. Stop buying from these bastards. Buy local, from a farm, there are many cities who have delivery services for fresh food. If you stop paying, they will stop playing.

    F-ck who you voted for as president, be conscious of who you vote for every day. Use your tickets wisely.

    And, get out of those tickets before it's too late. Get into sound money, now.

  13. Inflation manifests itself in three ways.
    1. Higher prices 2. Lower quantities
    3. Lower quality.
    The current inflation has been largely confined to #2.
    A half gallon is now 48 oz. A quart is 24oz.
    The food companies don't expect people to look at weights, and they are right. Whenever I mention this to anyone, they either disregard it by admitting they do not read labels or they seem shocked.
    What will people do when they finally catch on to what is happening?
    Bottom line: Bernanke is a mendacious, lying prevaricator who fervently believes his brand of bovine excrement is going to be accepted by all of us.

  14. Bought bird seed the other day: $11 for a 40-pound bag. Seemed kinda light. Looked at the label: 35-pounds!

    Went to get a haircut: Used to be $8 bucks. Now it's suddenly $10!

    Avocado prices are ridiculous. Too many others to mention.

    Thanks goes to Barry O and everyone in Congress who let this inflationary spiral happen. We need a new Congress, starting with Tea Party members - Republican and Democrat. That's how we can come together and compromise.

  15. I do not pay for gas for a vehicle because i DO not own one....its hurts my pocket as well. I dont even know what to eat anymore...

  16. I have been watching Scott bathroom tissue. The roll is still sold as 1000 sheets, but first they reduced the sheets to 3.7 inches long (instead of 4.5 by 4.5 inches) and then they reduced the sheets to 4.1 inches wide which is too narrow for some roll holders. Soon we will have postage stamp sized sheets and it will take a whole 'roll' to wipe a single swipe and your fingers will still get soiled.
    BTW green groceries in Wal Mart are almost exactly twice as high this summer as last summer.
    Brace for the kind of inflation that the Yugoslavs had in the '90's (100% per day) before this ends!