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Food Prices Hit Highest Level in a Decade
Oct 11, 2021 10:02:36   #
Radiance3
 
The surging demands versus decreased productions are the two most important reasons for inflation.

US population have increased, consumptions increased therefore. While a lot lesser man power to produce these goods. Sept. alone had the lowest employment record of 180,000 versus the average and expected number of 500,000.

To solve these problems, what must the Federal government do? It is simple. Put more people to work, stop restrictions on businesses, especially the manufacturing industries. Currently, there are 11 million plus jobs available. Prior months, president Biden had been paying people not to work. They had exhausted their unemployment insurance to bankruptcy. To solve deficits, the unemployment insurance had doubled rates deducted from payroll. Yes, payroll cost rise along with the benefits. Another factor that contributes to inflation. High overhead cost, plus less labor force combined makes up rise of inflation.

What about energy? US are mostly in the danger zone on energy supplies. Not only present consumer demands versus supplies. Worst that could happen is when war breaks out, and with US importing our oil and energy sources from OPEC , or other countries, US will be at a loss to defend itself, when world suppliers become our enemies. President Biden is baiting the US for the demise of this country, if war happens.

President Biden has put our country to a very risky position by closing our oil production, and rely from the OPEC supplies.

The government has to balance risks and the so called climate change. Instead, the LIBS have gone to the extremes to cuddle the climate change theories which is not a smart decision, but a very dangerous proposition.

==========================
Food Prices Hit Highest Level in a Decade

BY TOM OZIMEK October 9, 2021 Updated: October 10, 2021

Food prices have risen to their highest levels in a decade on the back of tightening supply conditions coupled with robust demand, according to the Food and Agriculture Organization of the United Nations.

The FAO’s food price index, which measures world food commodity prices, has surged by 32.8 percent in the 12 months through September, coming in at a reading of 130 points, a level not seen since 2011. On a month-over-month basis, the index rose 1.2 percent.

Accounting for the bulk of the rise in the index were higher prices of most cereals and vegetable oils.

The FAO vegetable oil price index was up 60 percent in September from a year earlier, and 1.7 percent higher than in August. The cereal price measure was up 27.3 percent over the year last month, and 2 percent from August.

Dairy and sugar prices also rose in September by an over-the-year 15.2 percent and 53.5 percent, respectively, while the meat price index was up 26.3 percent above its year-earlier level.

While much of the inflation story has been focused on surging energy costs and products affected by the semiconductor chip shortage such as used cars, rising food cost signals are increasingly flashing red.

As the U.S. economy rebounds, packaged food companies are grappling with inflation, with Conagra Brands Inc. saying on Oct. 7 that it would increase prices again on its frozen meals and snacks.

Conagra said it was facing rising costs of ingredients including edible oils, proteins, and grains, forcing it to increase prices on frozen goods by 3.5 percent and on staple meals by 3.3 percent.

Food-makers General Mills, Campbell Soup, and J.M. Smucker also have raised wholesale prices in response to rising ingredient and freight costs.

Pork and beef prices have surged in the past few months, while the Labor Department’s August inflation report showed that meat, poultry, fish, and eggs were up 8 percent over the past year and 15.7 percent from prices in August 2019, before the pandemic. Beef prices jumped 12.2 percent over the past year, and bacon was up 17 percent during the same period.

Experts say increasing energy costs around the world could exacerbate the problem.

“It’s this combination of things that’s beginning to get very worrying,” Abdolreza Abbassian, senior economist at the UN’s Food and Agriculture Organization, told Bloomberg in a recent interview. “It’s not just the isolated food-price numbers, but all of them together. I don’t think anyone two or three months ago was expecting the energy prices to get this strong.”

Food price inflation is also driving up consumer expectations for future price increases.

The New York Fed’s August survey of consumer expectations showed that Americans anticipate food prices to rise by 7.9 percent in a year, higher than the overall inflation expectation of 5.2 percent.

Federal Reserve officials have repeatedly characterized the current bout of inflation as “transitory” though they have increasingly expressed concern about the risk of a de-anchoring of inflationary expectations. That’s where confidence in the “transitory” narrative falls and people start to believe and behave as if inflation will be far stickier than previously believed, impacting wage and price-setting behavior and potentially even sparking the kind of upward wage-price spiral that bedeviled the economy in the 1970s.

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Oct 11, 2021 10:43:24   #
Sew_What
 
Yup...inflation has never been easy to predict and continues to befuddle everyone...except the consumer. The know when they see it.

Reply
Oct 11, 2021 11:23:21   #
kemmer
 
Radiance3 wrote:
The surging demands versus decreased productions are the two most important reasons for inflation.

US population have increased, consumptions increased therefore. While a lot lesser man power to produce these goods. Sept. alone had the lowest employment record of 180,000 versus the average and expected number of 500,000.

To solve these problems, what must the Federal government do? It is simple. Put more people to work, stop restrictions on businesses, especially the manufacturing industries. Currently, there are 11 million plus jobs available. Prior months, president Biden had been paying people not to work. They had exhausted their unemployment insurance to bankruptcy. To solve deficits, the unemployment insurance had doubled rates deducted from payroll. Yes, payroll cost rise along with the benefits. Another factor that contributes to inflation. High overhead cost, plus less labor force combined makes up rise of inflation.

What about energy? US are mostly in the danger zone on energy supplies. Not only present consumer demands versus supplies. Worst that could happen is when war breaks out, and with US importing our oil and energy sources from OPEC , or other countries, US will be at a loss to defend itself, when world suppliers become our enemies. President Biden is baiting the US for the demise of this country, if war happens.

President Biden has put our country to a very risky position by closing our oil production, and rely from the OPEC supplies.

The government has to balance risks and the so called climate change. Instead, the LIBS have gone to the extremes to cuddle the climate change theories which is not a smart decision, but a very dangerous proposition.

==========================
Food Prices Hit Highest Level in a Decade

BY TOM OZIMEK October 9, 2021 Updated: October 10, 2021

Food prices have risen to their highest levels in a decade on the back of tightening supply conditions coupled with robust demand, according to the Food and Agriculture Organization of the United Nations.

The FAO’s food price index, which measures world food commodity prices, has surged by 32.8 percent in the 12 months through September, coming in at a reading of 130 points, a level not seen since 2011. On a month-over-month basis, the index rose 1.2 percent.

Accounting for the bulk of the rise in the index were higher prices of most cereals and vegetable oils.

The FAO vegetable oil price index was up 60 percent in September from a year earlier, and 1.7 percent higher than in August. The cereal price measure was up 27.3 percent over the year last month, and 2 percent from August.

Dairy and sugar prices also rose in September by an over-the-year 15.2 percent and 53.5 percent, respectively, while the meat price index was up 26.3 percent above its year-earlier level.

While much of the inflation story has been focused on surging energy costs and products affected by the semiconductor chip shortage such as used cars, rising food cost signals are increasingly flashing red.

As the U.S. economy rebounds, packaged food companies are grappling with inflation, with Conagra Brands Inc. saying on Oct. 7 that it would increase prices again on its frozen meals and snacks.

Conagra said it was facing rising costs of ingredients including edible oils, proteins, and grains, forcing it to increase prices on frozen goods by 3.5 percent and on staple meals by 3.3 percent.

Food-makers General Mills, Campbell Soup, and J.M. Smucker also have raised wholesale prices in response to rising ingredient and freight costs.

Pork and beef prices have surged in the past few months, while the Labor Department’s August inflation report showed that meat, poultry, fish, and eggs were up 8 percent over the past year and 15.7 percent from prices in August 2019, before the pandemic. Beef prices jumped 12.2 percent over the past year, and bacon was up 17 percent during the same period.

Experts say increasing energy costs around the world could exacerbate the problem.

“It’s this combination of things that’s beginning to get very worrying,” Abdolreza Abbassian, senior economist at the UN’s Food and Agriculture Organization, told Bloomberg in a recent interview. “It’s not just the isolated food-price numbers, but all of them together. I don’t think anyone two or three months ago was expecting the energy prices to get this strong.”

Food price inflation is also driving up consumer expectations for future price increases.

The New York Fed’s August survey of consumer expectations showed that Americans anticipate food prices to rise by 7.9 percent in a year, higher than the overall inflation expectation of 5.2 percent.

Federal Reserve officials have repeatedly characterized the current bout of inflation as “transitory” though they have increasingly expressed concern about the risk of a de-anchoring of inflationary expectations. That’s where confidence in the “transitory” narrative falls and people start to believe and behave as if inflation will be far stickier than previously believed, impacting wage and price-setting behavior and potentially even sparking the kind of upward wage-price spiral that bedeviled the economy in the 1970s.
i The surging demands versus decreased productio... (show quote)

Food production hasn't yet fully recovered from shutdowns during the pandemic; there are hundreds of container ships lined up at anchor outside US ports due to shore labor shortages and too few truck drivers. It's not hard to understand. Economists warm potential Xmas shoppers to buy NOW because the shelves will be empty in December.

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Oct 11, 2021 12:13:02   #
Radiance3
 
kemmer wrote:
Food production hasn't yet fully recovered from shutdowns during the pandemic; there are hundreds of container ships lined up at anchor outside US ports due to shore labor shortages and too few truck drivers. It's not hard to understand. Economists warm potential Xmas shoppers to buy NOW because the shelves will be empty in December.

====================
One of the problems there is Biden depends on importing manufactured goods from foreign countries like China. China has made the US the biggest market consumers of their products.

Instead of producing Biden wants to import. He pays the people to stay home instead of requiring them to work. Most manufacturing industries in the US are in the stand still. They have very difficult time hiring workers. Many of them had closed in fact, could not continue an on going operations due to high cost of a stand still without production.

Another negative approach of this administration and the Sec. of Treasury. They planned to increase 15% tax on corporate industries. If that happens corporate taxes will increase from 28% to another 15 %, total would be 43%. What do you think corporation will do to continue business? They will further raise the price of their products and services. And who are mostly affected? All of the us the consumers, and most adversely are the poor people, and those retired folks who rely on their fixed SS income. The purpose of this tax increase is to fund their $3.5 trillion Social Spending for the democrat voters this 2022, and 2024.

When corporate prices increase due to increased taxes, everything else will increase. Rent, and utilities cause the labor cost and supplies increased.

Various taxes paid by the corporations or small business industries.
1. IRS corporate income tax of 43%.
2. Payroll tax on employees' 50% of SS and Medicare.
3. Excise Tax.
4. Property Tax. Very high in NY, California, New Jersey, Washington , Illinois, NH. Most of these are democrat states.
5. Unemployment Tax.
6. Self Employment tax if not a corporation.

All these contribute to very high inflation.

Reply
Oct 11, 2021 12:28:26   #
kemmer
 
Radiance3 wrote:
====================
One of the problems there is Biden depends on importing manufactured goods from foreign countries like China. China has made the US the biggest market consumers of their products.

Get real. That has been the case for a long time. Ivanka Trump even had all her rags made there—and that’s where Trump’s neckties are made.

Reply
Oct 11, 2021 12:55:13   #
Radiance3
 
kemmer wrote:
Get real. That has been the case for a long time. Ivanka Trump even had all her rags made there—and that’s where Trump’s neckties are made.

================
kemmer, do you ever use your head? Is there any brain left there? I have displayed the statistics on inflation during the Trump administration versus Biden at present and still going up. It is getting worst. You are expecting for the stimulus of Biden? The $3.5 trillion. The biggest in history. Bigger than costs of all world wars and local wars combined, and all expenditures combined since history.

Biden is bankrupting this country to put everybody at same level except him, his family, and his team elites.
Biden is converting this country to Marxist government.
Biden's inflation in 2021 is sky high.
Biden's inflation  in 2021 is sky high....

Reply
Oct 11, 2021 13:35:31   #
kemmer
 
Radiance3 wrote:
================
kemmer, do you ever use your head? Is there any brain left there? I have displayed the statistics on inflation during the Trump administration versus Biden at present and still going up. It is getting worst. You are expecting for the stimulus of Biden? The $3.5 trillion. The biggest in history. Bigger than costs of all world wars and local wars combined, and all expenditures combined since history.

Biden is bankrupting this country to put everybody at same level except him, his family, and his team elites.
Biden is converting this country to Marxist government.
================ br kemmer, do you ever use your h... (show quote)

You didn’t mind when Bush and Trump gave tax cuts to corporations and the wealthy which cost the economy $3.9 trillion. Biden’s $3.5 T will benefit everybody.

Reply
 
 
Oct 11, 2021 14:05:19   #
Radiance3
 
kemmer wrote:
You didn’t mind when Bush and Trump gave tax cuts to corporations and the wealthy which cost the economy $3.9 trillion. Biden’s $3.5 T will benefit everybody.

=================
Prove that, except your mouth spews empty lies. You are not even worth my time kemmer. But for the last read it.

That $3.9 trillion was the economic growth and which allowed people to work. Latest Trump unemployment was 3.5%. That means 96.5% of the American people were productively working.

How are you Biden people doing now? He rationed the handouts lucrative food stamps, child care, allowance for education, allowance for medical care, housing.

Where are the money coming from that he funds to these idiots, who prefer to stay home because Biden supports them with the taxpayers' money. That is why they don't want to return to work. They get more by staying homes, waiting for Biden's handouts. More are coming from the $3.5 trillion. Watch out the 43% (28%+15%) corporate tax will increase all prices.

Reply
Oct 12, 2021 10:12:52   #
currahee506
 
"Inflation" is easy to predict. "Deflation" is the "enemy" of the privately controlled "central bank." When the economy is American, i.e., people are working and earning and saving money to spend on their needs, frugally, this causes a deflation, thereby threatening a loss of power of the "investors" of the central bank, and, they "inflate the currency." When a businessman, who believes in the free market and champions the private sector becomes president and tells the FED to bring the interest rate on the currency printed from nothing, as President Trump did, they react with "inflation." The FED care only about the bankers. Now we see with clarity who is on the side of the bankers and who is on the side of the American Republic.

Reply
Oct 12, 2021 12:07:15   #
kemmer
 
Radiance3 wrote:
=================
Prove that, except your mouth spews empty lies. You are not even worth my time kemmer.

😂😂😂😂

Reply
Oct 12, 2021 12:22:04   #
Radiance3
 
kemmer wrote:
Food production hasn't yet fully recovered from shutdowns during the pandemic; there are hundreds of container ships lined up at anchor outside US ports due to shore labor shortages and too few truck drivers. It's not hard to understand. Economists warm potential Xmas shoppers to buy NOW because the shelves will be empty in December.

================
Shut down? There are production outlets that need to continue without interruptions. But Biden, Sanders to achieve their objectives , use the pandemic as tools to shut down all establishments, including public schools.

Right now more shut downs are still active due to forced vaccine to various people who refuse due to medical or spiritual conditions, but most of all people don't want to give up their freedom, that God endowed since the birth of this nation.

The Gestapo system of Biden assisted by Sanders uses this Pandemic, vaccines, masks as tools to control peoples' freedom. DOJ is a tool of Biden. It does not work for the interest of the nation. It works for political power of demented Joe Biden.

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