Will Price Inflation Of Meat, Corn, Food, And Farmland Continue?

[phantom power]

Today's corn prices are triple the price they were three years ago. High corn demand and high gasoline and diesel prices are having a ripple effect throughout every component of the food and agriculture system. In 2011, we saw many grocery store food item prices rise by double digits and Midwestern farmland prices went up 25%, attributable to high corn and soybean returns for farmers.

The consumer is getting squeezed at the supermarket and at the gas pump. According to the Bureau of Labor Statistics, in 2011, grocery store prices rose six percent on average, or nearly three times the rate of core price inflation excluding food and energy. The median American family spends ten percent of its after tax income on food, and 17 percent on food plus energy.

http://seekingalpha.com/article/392901-will-price-inflation-of-meat-corn-food-and-farmland-continue

[CAPHAVOC]

1. Food and Energy do not count.

The Government wants us to ignore them. These only matter to us 99%'ers.

[socialindependocrat]

2. Prices go up by leaps and bounds

Prices used to go up a nickle here and a dime there. Now, everytime you see an increase it goes up 20-50%.

Just gas, heating oil and food have taken up everyone's discretionary income.

When they deregulated the power industry in Delaware our bills went up 67%.

Now, there is no money left to rebuild the economy.

Nice going MORONS!

[Javaman]

3. Since our entire agracultural model is based on fossil fuels...

oil goes up, so does the price of gas and diesel and everything attached to them.

[NickB79]

4. It will continue until the prices cause another recession and/or depression

In which case the prices will dip (temporarily).

In most countries, it isn't unusual to spend 25% or more of your income on food and energy. The US population will have to come to grips with this sooner or later.