Wednesday, July 18, 2012

Food Inflation? Really??

Gee.  Maybe QE1 plus the increase in fuel-costs actually HAD an effect.

  • Beef: +10.2%
  • Pork: +8.5%
  • Fish: +7.1%
  • Eggs: +9.2%
  • Dairy: +6.8%
  • Oils and Fats: +9.3%
And that was just in 2011.  Can't wait for QE2 effects for this year!!


Anonymous said...

You ain't seen anything

............If you like bacon/pork you should buy it now, because by the fall you are going to be stunned at what it will cost...........

Anonymous said...

No inflation,period. I shop at the same store as Strupp.

Anonymous said...

Or maybe Strupp thinks 7-10% is "moderate"

J. Strupp said...

I haven't read the data link yet. And I'm not taking Breitbart's word for it. I'll respond when I do. Don't worry anon. I know you're waiting for me to finally be wrong on this issue. ;)

Anonymous said...

" I know you're waiting for me to finally be wrong on this issue" Not finally,from the beginning. The inflation caused by the failed policies you stand behind doesn't happen overnight.

J. Strupp said...

Go and download the presentation that Breitbart links to. You have to actually look at the charts now folks. The messege is clear. Food prices (not just the prices listed) are up year over year as well as global demand for food. However, they have not reached, nor are they expected to reach, 2007-08 levels. The drought will, no doubt, be an ongoing issue moving forward so their projections might be underestimating next year's prices but the trend is moderate inflation in food and, of course, CPI remains low compared historical data. Again, compared to historical data.

Breitbart is cherry picking recent data which is fine because that's what he gets paid to do.

It's all there. Read it. Only takes a second.