The Grocery Price Shock Is Coming to a
Store Near You
Bloomberg,
by
Megan Durisin
&
Deirdre Hipwell
Original Article
Posted By: OhioNick,
4/24/2021 4:13:05 PM
Corn, wheat, soybeans, vegetable oils: A small handful of commodities form the backbone of much of the world’s diet and they’re dramatically more expensive, flashing alarm signals for global shopping budgets.
This week, the Bloomberg Agriculture Spot Index — which tracks key farm products — surged the most in almost nine years, driven by a rally in crop futures. With global food prices already at the highest since mid-2014, this latest jump is being closely watched because staple crops are a ubiquitous influence on grocery shelves — from bread and pizza dough to meat and even soda.
Soaring raw material prices have broad repercussions for households and businesses.
Reply 1 - Posted by:
marbles 4/24/2021 4:20:37 PM (No. 765995)
It's already here.
28 people like this.
Reply 2 - Posted by:
RuckusTom 4/24/2021 4:28:07 PM (No. 765996)
The main way to take excess cash out of the economy (what are we up to now in Covid expenditures - at least $4 Trillion?) is to raise interest rates to avoid inflation. What's our current national debt reaching? $30 Trillion. That's around $90,000 owed by every man, woman and child in America.
There's a big difference between 0% interest on $30 Trillion and 20% or 30% on $30 Trillion. If that happens say bye bye to SS, the military, Medicare, Medicaid and welfare. On the flip side, if those don't get cut and the Feds just keep printing money we'll be paying $50 for a loaf of bread (if not more) and $100 for a gallon of gas.
As recent examples, it happened in the Weimar Republic; it happened in Argentina; it happened in Venezuela.
16 people like this.
Reply 3 - Posted by:
or gate 4/24/2021 4:39:46 PM (No. 766001)
The poor peoples pay for reckless spending.
11 people like this.
Reply 4 - Posted by:
NorthernDog 4/24/2021 4:41:12 PM (No. 766003)
Produce prices have gone up noticeably. A grocery trip that was $50 last year is close to $60 now.
15 people like this.
Reply 5 - Posted by:
Corndoggies 4/24/2021 5:05:38 PM (No. 766021)
They don’t mention it, but go go juice for big trucks is up over $3 a gal and freight is paying really well. Guess who pays for that?
8 people like this.
Reply 6 - Posted by:
jalo1951 4/24/2021 5:06:01 PM (No. 766023)
EVERYTHING is going to be affected in some way. I always thought jimmy carter was bad. But dementia joe has done more harm to us in 100 days than what carter did in 4 years. carter was inept but dementia joe's handlers are insane and it is going to be the end of us. After this past year and now this crap I am worn out. There is so much more they want to do to us that I am fearful for our country. Can we survive this? Socialism has killed more people than the Nazis. We have dumbed down the public about history where they don't even know they are being played for fools.
34 people like this.
Reply 7 - Posted by:
DVC 4/24/2021 5:22:31 PM (No. 766035)
Putting corn in the gas tank isn't good for the car, and isn't good for food prices.
Stupid, stupid, stupid policy.
And, of course, Traitor Joe and the Demonrats are wrecking the economy, so everything will be getting more expensive. Count on it. I'm glad I am not living close to the line financially.
17 people like this.
Reply 8 - Posted by:
The Remnants 4/24/2021 6:13:55 PM (No. 766072)
We were energy-independent with President Trump. Notice how gas prices have gone up lately? Of course, the rise in price at the pump effects everything - food, for instance. Everything that is transported by trucks.
18 people like this.
Reply 9 - Posted by:
Connor 4/24/2021 6:18:03 PM (No. 766077)
I live in Spokane and food has skyrocketed here.
5 people like this.
Reply 10 - Posted by:
Venturer 4/24/2021 6:21:48 PM (No. 766081)
The rise we see in gas prices now is a pittance to where it is going.
It's just getting started.
Wait until the Fracking and the stoppage of drilling on Government land , and the buying from foreign countries gets into high gear.
Then you are going to see something.
9 people like this.
Reply 11 - Posted by:
BirdsNest 4/24/2021 6:53:00 PM (No. 766113)
Prices have already gone up in our WalMart. 16 cents higher on a can of pineapple. 24 cents on a box of food storage bags. I don't buy meats there so I can't compare prices.
4 people like this.
Reply 12 - Posted by:
navybrat 4/24/2021 7:22:16 PM (No. 766132)
The cost of lumber already has. I am having a small garden shed built and the cost of the lumber is exorbitant. The builder is in shock. He said he has never seen lumber this expensive.
12 people like this.
Reply 13 - Posted by:
deerejon 4/24/2021 7:25:41 PM (No. 766134)
Every time Democrats are in charge prices on every thing goes up,no matter what.Gas ,food ,utilities,clothing ,Taxes,you name it.What gets me is these idiot Democrats that vote for these morons in charge are good with it.You'll not here one Democrat complain about it.Unbelievable..
8 people like this.
Reply 14 - Posted by:
columba 4/24/2021 7:26:46 PM (No. 766135)
If this issue is from Bloomberg, it is biased, I assume.
It will probably affect people who own guns.
1 person likes this.
Reply 15 - Posted by:
columba 4/24/2021 7:28:42 PM (No. 766136)
One more effect of the Biden regime.
8 people like this.
Reply 16 - Posted by:
JHHolliday 4/24/2021 8:22:04 PM (No. 766158)
Not just lumber #12. I am having some hand rails built on my steps and the price of steel has tripled in the last 6 months.
5 people like this.
This is not going to be a problem for those who earn more at home than working because it doesn't affect their food stamps.
3 people like this.
Reply 18 - Posted by:
TXknitter 4/26/2021 3:12:17 PM (No. 767767)
I do my best to tell young families to start a garden. We should especially encourage single mothers to do it. Container gardens in some form are almost always possible.
0 people like this.
Good farmland is being rented for solar power and wind power farms producing even less food.
0 people like this.
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