Report: Worst Food Price Inflation in 17 Years

[nosmokes]

original-usagnet.com/story-national.php?Id=958&yr=2008

Report: Worst Food Price Inflation in 17 Years
USAgNet - 04/22/2008

The United States is wrestling with the worst food inflation in 17 years, and analysts expect new data to show it's getting worse. U.S. food prices rose 4 percent in 2007, compared with an average 2.5 percent annual rise for the last 15 years, according to the U.S. Department of Agriculture (USDA). The agency says 2008 could be worse, with a rise of as much as 4.5 percent.

The Department of Labor report released on Wednesday shows the U.S. Consumer Price Index rose at a 4 percent annual rate in the first three months of the year, up from last year's overall rise of 2.8 percent.

U.S. households still spend a smaller chunk of their income for foods than in any other country -- 7.2 percent in 2006, according to the USDA. By contrast, the figure was 22 percent in Poland and more than 40 percent in Egypt and Vietnam.

Still, the higher U.S. prices seem eye-popping after years of low inflation. Eggs cost 25 percent more in February than they were a year ago, according to the USDA. Prices for milk and other dairy products jumped 13 percent; chicken and other poultry increased nearly 7 percent.
USAgNet - 04/22/2008

The United States is wrestling with the worst food inflation in 17 years, and analysts expect new data to show it's getting worse. U.S. food prices rose 4 percent in 2007, compared with an average 2.5 percent annual rise for the last 15 years, according to the U.S. Department of Agriculture (USDA). The agency says 2008 could be worse, with a rise of as much as 4.5 percent.

The Department of Labor report released on Wednesday shows the U.S. Consumer Price Index rose at a 4 percent annual rate in the first three months of the year, up from last year's overall rise of 2.8 percent.

U.S. households still spend a smaller chunk of their income for foods than in any other country -- 7.2 percent in 2006, according to the USDA. By contrast, the figure was 22 percent in Poland and more than 40 percent in Egypt and Vietnam.

Still, the higher U.S. prices seem eye-popping after years of low inflation. Eggs cost 25 percent more in February than they were a year ago, according to the USDA. Prices for milk and other dairy products jumped 13 percent; chicken and other poultry increased nearly 7 percent.

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complete article here

[whistle]

1. what food inflation was that in 1991? I just don't recall anything like this

...since Ford/Carter i.e generic brand popping corn was $0.98 for a 16oz bag in 2000 and yesterday I paid $3.29, I suppose last December it was still under a dollar and a half

[Frustratedlady]

4. Good heavens! I hadn't noticed. I'd better stock up.

Bush is trying to take all our fun away...first they create all these situations where we want to sit back and watch the show, then they make popcorn so expensive, we can't afford it?:popcorn:

[Liberal Gramma]

5. Good one.

[orangerevolution]

7. The result of using Corn

as an alternative fuel source to oil. We may have to give up corn and corn based products so there is enough corn for the alternative research and development.

[babylonsister]

2. Rec'd. I'm sure * is responsible for this, too. He's building quite the legacy. nt

[gatorboy]

3. Bush and his cronies are leaving quite a mess on their way out.

As much as we NEED Democrats in power across the board, I don't envy what they'll face in the coming years...

[Warren Stupidity]

6. CPI is just plain old bogus

http://www.shadowstats.com/

They have been fucking with it since Clinton's husband was the pretzledent.