No Inflation--If You Don't Eat or Buy Fuel

Forget about the gasoline price.

The November All Farm Products Index of Prices Received by Farmers is 1.4% above October's index. Breaking it out, the crop index is up a similar 1.4%, while the livestock index rose a greater 2.3%. Producers received higher soybean, egg, corn and broiler prices, while lettuce, hogs, cattle and broccoli fetched lower prices. With this month's overall price increase, the index is now 20% higher than it was a year ago. The index for prices paid by farmers for inputs also rose this month, gaining 0.6% with rising prices for diesel fuel, complete feeds and gasoline, while lower prices were paid for feeder cattle, potash and phosphate materials and hay and forages. --The Dismal Scientist 11/30/07

So food prices are up 20% in the last year, yet the Feds claim that inflation is only running around 3%.

Maybe the cost of houses is offsetting the cost of food?