Saturday, July 26, 2014

USDA: Food at Home Prices Have Already Increased More This Year Than All of 2013

There is no price inflation. Really. None.

Just ignore the fact that the USDA said yesterday that "the food-at-home CPI has already increased more in the first 6 months of 2014 than it did in all of 2013."

Further the USDA reported that pork prices were up 12 percent in June compared to a year ago.

As for beef and veal, the agriculture department said prices are up 10.4 percent year-over-year in June.

In addition, fresh fruit prices were up 5.8 percent in June, compared to a year ago. Fresh vegetable prices rose 2 percent year-over-year.

Meanwhile, Bloomberg reports butter prices have increased 83% over the last 12 months to a 16-year high. The spot price of butter has surged 71 percent this year, allone, reaching the highest close since September 1998,


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