According to the U.S. Bureau of Labor Statistics, Food indexes continued to rise in February 2011, with sharp increases in the indexes for fresh vegetables and meats contributing to a 0.8 percent increase in the food at home index, the largest since July 2008.
With fuel prices fluctuating wildly and the Japan Crisis looming, consumers may be in for more high food prices this spring. Now is the perfect time to plant a garden or scout out local farmers markets for the upcoming season.
Showing posts with label food prices. Show all posts
Showing posts with label food prices. Show all posts
Wednesday, March 23, 2011
Thursday, January 27, 2011
USDA 2011 Consumer Price Index
The U.S. Department of Agriculture's Economic Research Service has released its 2011 Consumer
Price Index analysis for projections on food prices.
According to the index, overall food prices are expected to increase 2% to 3% this year.
Food purchased from grocery stores as well as food-away-from-home (restaurant) prices are forecasted to increase 2 to 3 percent.
Although food price inflation was relatively weak for most of 2009 and 2010, higher food commodity and energy prices have recently exerted pressure on wholesale and retail food prices.
As a result, higher prices are projected to push inflation toward the historical average inflation rate of 2 to 3 percent in 2011.
Price Index analysis for projections on food prices.
According to the index, overall food prices are expected to increase 2% to 3% this year.
Food purchased from grocery stores as well as food-away-from-home (restaurant) prices are forecasted to increase 2 to 3 percent.
Although food price inflation was relatively weak for most of 2009 and 2010, higher food commodity and energy prices have recently exerted pressure on wholesale and retail food prices.
As a result, higher prices are projected to push inflation toward the historical average inflation rate of 2 to 3 percent in 2011.
Sunday, January 23, 2011
Food Riots Becoming Common
Riots have broken out across the world over high food prices. This year, prices for food have reached an all-time high since 1990. In Tunisia and Algeria, hundreds have been injured while some have even been killed due to uprisings over the unjust price of food. Countries that have yet to experience demonstrations have been stocking up on groceries in efforts to keep their citizens calm.
Climate change is one of many causes explaining the recent excessive food prices. Across the planet, weather has been unpredictable and damaging to crops. Farming often provides less available food than anticipated and costs therefore increase.
For example, crops in Pakistan suffered from massive flooding, and Russian crops were hit by record heat in 2010. In Laos and Cambodia, unpredictable rainfall foiled many crops. Climate change experts predict that this sort of unreliable weather will only become more common in the future as global warming accelerates.
As a result of unruly weather, cereal prices rose nearly fifty percent, and meat and sugar costs have been at their highest in the past twenty years. In efforts to address the prices, Nicholas Sarkozy, France’s President and the new Chairman of the G20, has put the issue on this week’s G20 economic reform agenda in Washington, D.C.
"The reality is that the same speculators that caused the global economic meltdown through their illustrious trade in sub-prime mortgages, are betting on our food system now too," says Deborah Doane, from the World Development Movement. Speculators play a big role in this situation as they have been pouring investment dollars into indexes of food prices, causing much talk over the subject.
source: Fishlink Sublegals
Climate change is one of many causes explaining the recent excessive food prices. Across the planet, weather has been unpredictable and damaging to crops. Farming often provides less available food than anticipated and costs therefore increase.
For example, crops in Pakistan suffered from massive flooding, and Russian crops were hit by record heat in 2010. In Laos and Cambodia, unpredictable rainfall foiled many crops. Climate change experts predict that this sort of unreliable weather will only become more common in the future as global warming accelerates.
As a result of unruly weather, cereal prices rose nearly fifty percent, and meat and sugar costs have been at their highest in the past twenty years. In efforts to address the prices, Nicholas Sarkozy, France’s President and the new Chairman of the G20, has put the issue on this week’s G20 economic reform agenda in Washington, D.C.
"The reality is that the same speculators that caused the global economic meltdown through their illustrious trade in sub-prime mortgages, are betting on our food system now too," says Deborah Doane, from the World Development Movement. Speculators play a big role in this situation as they have been pouring investment dollars into indexes of food prices, causing much talk over the subject.
source: Fishlink Sublegals
Subscribe to:
Posts (Atom)