The chart above shows the extreme rise in prices of food imported into the U.S. from other countries in March, according to data released by the U.S. Bureau of Labor Statistics this morning.
"Prices for foods, feeds, and beverages rose 3.7 percent in March, the largest monthly gain for the index since a 4.3-percent increase in March 2011," said the BLS in a press release. "The March 2014 advance was driven by a 14.0-percent rise in fruit prices, the largest one-month increase for that index since the index was first published monthly in December 1993."
Food inflation has become a big story this year as a confluence of factors have caused a broad surge in prices across the agricultural and livestock commodity complex. A fungus is spreading across coffee crops in South America, a debilitating virus is sweeping across the U.S. hog population, and geopolitical tensions in Russia and Ukraine are giving wheat prices a boost. Add in expectations for extreme weather, and you get an explosive cocktail of supply constraints pushing everything higher.
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4 comments:
Getting worse and worse all of the time. First they started giving you less for the same price.
Now, it's much more for the smaller serving size they quietly introduced.
Everyone should start their vegetable gardens today. Also, there is a movement to allow chickens (small amounts ) in city limits in Salisbury. A very few chickens can feed your family and the family next door. This is going to be the new frontier people. We are taking a set back to better things and fresher things. Get with the program or potentially go hungry.
Obama is getting his GAS prices high which reflect on FOOD prices...
Minimum wage haters? What do you think all these people with children will do when stomachs stay empty and tempers get short?
They will take what they want.
From you.
And your 'representatives"? What is YOUR guy doing? Eating steak every night and charging the public for $500 meals at Going Nuts café. Bad things are coming.
Keep cheering!
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