Food Price Inflation

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Food Price Inflation

Postby Boots » Fri Oct 08, 2021 9:52 am

This might be of interest to the group. Part of my job is to geek out over economic statistics and keep track of what is moving the markets and interest rates. Not something a sane person would want to do, but somehow it interests me and it pays to keep me in beans, so there you are.

So the article below clearly contradicts the fables that the Federal Reserve tell us every quarter about how “there’s no inflation out there, we can’t find it”. If that’s the case, then I would say to them they couldn’t find a snakebite if they walked through the Rattlesnake cage at the zoo. Probably one reason they can’t figure out the oil prices have more than doubled and impacted the price of every single production good and supply chain cost in the entire world.

https://www.breitbart.com/politics/2021 ... cade-high/
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Re: Food Price Inflation

Postby OldUsedParts » Fri Oct 08, 2021 12:00 pm

Even tho I don't price shop many grocery items, I did notice the increase yesterday when I was at HEB. The 1 lb pkgs of Grass Feed Ground Beef had gone up from $5 to $7.20 and my total bill was about 25% higher than usual, as it also was the time before. We will probably just tighten our belts and get frugal somewhere other than Groceries. :dont:
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Re: Food Price Inflation

Postby GTR » Fri Oct 08, 2021 1:04 pm

This current administration has no grip on reality. Any time crude prices go up, everything goes up. Simple trickle down effect. I could get real political, this however is not the place to do so.
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Re: Food Price Inflation

Postby Boots » Fri Oct 08, 2021 1:59 pm

GTR wrote:This current administration has no grip on reality. Any time crude prices go up, everything goes up. Simple trickle down effect. I could get real political, this however is not the place to do so.


Agreed, apologize to anyone if/when I come across as politicizing (though I have strong opinions about some of our institutions, not the intent). The key being that all of us Carnivores are going to be paying much more this winter for the meat, and for those of us on fixed incomes which I bet is more than a few, it’s gonna be a shorter dollar in the grocery aisle this winter. I’ll note also the Eurozone is already having fuel shortages in some areas which does not bode well for gasoline (petrol in Norway?) and LNG prices this winter. But good news for our buddy Greg R from an employment security perspective.
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Re: Food Price Inflation

Postby GTR » Fri Oct 08, 2021 2:22 pm

Wasn’t implying anything. Was only reining myself in. Topics like this, I tend to go off the rails far too quickly. :lol:
And yes I’m sure many on here are on some form of fixed income. We’re heading down to Nac. next weekend to see if my wife can join me in retirement. Again trying to be none political, the current return to work mandates aren’t aligned with our views. So retirement is hopefully a good alternative.
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Re: Food Price Inflation

Postby Norway Joe » Fri Oct 08, 2021 3:01 pm

Since Boots mentioned Norway and Europe. Here's a status update:

Prices are up here, too but not so much on meat.

UK has big problems with almost everything after their exit from EU. Their biggest problem is the lack of lorry drivers. UK has been dependent on drivers from eastern Europe but they no longer have access to the UK market. Big lines at the gas stations, if they get gas. Stores also struggles with deliveries and lots of empty shelves. We see pictures resembling pictures from the old communist Europe.

EU has been too dependent on renewable energy and LPG from Russia. Russia reduced flow of LPG since the pipeline is running through Ukraine. Lack of wind and LPG have driven energy costs through the roof.

Even if we aren't a member of the EU we are participating in the common market. We have exported electricity to the EU due to their lack of energy from windmills.

The result for us is that our dams are almost empty due to the power export and lack of rain. Dams haven't had less water in 30 years and now we're entering the season where we use most electricity. Most people here heat their houses with electricity.

We usually pay around 4 cents per kw/h of electricity. Now we pay 16 cents per kw/h and winter is soon approaching. When a normal house uses 30.000 kw/h per year the bill gets expensive.

Generally it's good for Norway with high oil and gas prices. More money to the states oil fund which just passed 1 345 000 000 000 usd. The fund is invested all over the world and the government may yearly spend up to 3% of the annual value increase of the fund.

Gas prices are also high at the moment. About 2.2 usd per liter or about 8.1 usd per gallon.

Meat prices are stable because meat production is heavily regulated by the government.

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Re: Food Price Inflation

Postby phillymike » Fri Oct 08, 2021 4:38 pm

I’m not saying anything because it’s political.


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