And all of the jobs are part-time.
July 4 Barbecue Costs Climb to Record
- Thread starter Tsing Tao
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And all of the jobs are part-time.
Food prices are volatile, which is why they're not included in core.
CPI for All Urban Consumers: Food - 97 Year Graph:
<img src="http://www.forecast-chart.com/images/consumer-price-index/food-may.gif">
The above graph shows the annual Rate of Inflation for Food in the US (Consumer Price Index for All Urban Consumers: Food), not seasonally adjusted, plotted monthly.. (5% predicted for Jan. 2015)
(Horridly designed presentation of that graph, see the snipped image, below.)
Drought and disease are a beotch. This is not the Fed's doing. Hayek and Austrian economics will not be resuscitated.
CPI for All Urban Consumers: Food - 97 Year Graph:
<img src="http://www.forecast-chart.com/images/consumer-price-index/food-may.gif">
The above graph shows the annual Rate of Inflation for Food in the US (Consumer Price Index for All Urban Consumers: Food), not seasonally adjusted, plotted monthly.. (5% predicted for Jan. 2015)
(Horridly designed presentation of that graph, see the snipped image, below.)
Drought and disease are a beotch. This is not the Fed's doing. Hayek and Austrian economics will not be resuscitated.
I don't think you can look at just the prices of goods and services to gauge inflation. Rising prices do not cause inflation, they reflect it. If you have real inflation, it will show up in wages too, and we are not seeing that yet. It may be that the large number of part time jobs is hiding any rise in wages. Anecdotally, I am seeing signs of inflation everywhere in the form of price increases.
But I will go out on limb with one prediction. By the time the Fed "sees" inflation, it will be too late.
Beans and ammo, baby!!
But I will go out on limb with one prediction. By the time the Fed "sees" inflation, it will be too late.
Beans and ammo, baby!!
Horseshit excuse conveniently blathered in order to remove what's important to everyday consumers from something the Fed needs to be focused on. They were volatile the first 50 or so years. Lately they've not been volatile, just increasing. But let's keep them out because they're inconvenient (and under reported).
Hayek and Austrian economics will not be resuscitated.
Oh, how wrong you are. After the next crash, people will begin to ask some very important questions. You can't suppress the truth forever, no matter how many blog entries your high priest writes.
Wages don't show it - but you can still have inflation. Remember, two kinds of inflation. Demand-Pull (wages make people buy more stuff, and stuff becomes scarce driving up prices) or Cost-Push (producers feel margins pinched and have to raise prices because of input costs).
Oh, how pissy you are, LOL.
It's little more than local growing and producing conditions.
World Food Prices Fall for 3rd Month as Grains Lead Drop
By Rudy Ruitenberg Jul 3, 2014 7:17 AM MT
"World food prices declined for a third month in June as the cost of grains and vegetable oils slumped amid expectations for rising supplies, the UNâs Food & Agriculture Organization said.
"An index of 55 food items fell 1.8 percent to 206 points from a restated 209.8 points in May, the Rome-based United Nations agency wrote in an online report today. World food prices were 2.8 percent lower than a year earlier.
"Corn futures dropped 8.7 percent last month in Chicago on an outlook for a record crop in the U.S., the biggest grower, while wheat fell 7.9 percent as harvests in Europe are seen higher. World grain stocks at the end of 2014-15 will climb to a 14-year high, the FAO forecast in a separate report today.
âLast monthâs decline, which was the third in succession, was largely the result of a marked drop in cereal and vegetable-oil prices, following further improvements in global production prospects,â the FAO wrote.
"The UN agency raised its outlook for 2014-15 harvests of wheat, rice and coarse grains such as corn and barley. Global grain output is forecast to be 2.5 billion metric tons, 18.3 million tons more than predicted last month, the FAO said.
"Production will outpace demand for a second year, lifting grain-ending stocks to 604.1 million tons, the highest since 2001, from 573.9 million tons a year earlier, according to the UN agency.
"Vegetable Oil
"An FAO index of grain prices fell 5.2 percent to 196.2 points from 207 in May, the biggest slide since August last year and down from 232.3 points in the year-earlier month. A vegetable-oil price index declined to 188.9 points from 195.3.
"For grains, âthe slide was mainly caused by a weakening of wheat and maize quotations,â or corn, the FAO wrote. âBy contrast, rice prices were marginally up from May, mostly reflecting the suspension of large public stock sales in Thailand.â
"Dairy prices fell for a fourth month from their February record amid rising production in New Zealand and Europe. Large supply of milk powder is weighing on the market, while âfirmâ import demand caused cheese prices to climb, the FAO said.
âThe decline in June was substantially less than in the previous three months, suggesting that the downward price adjustment may be coming to an end,â the agency said.
"Wheat Forecast
"The FAO raised its outlook for world wheat output in the 2014-15 season by 4.5 million tons to 707.2 million tons, down from 716.9 million tons estimated for 2013-14. The forecast for coarse grains was increased to 1.29 billion tons from last monthâs estimate of 1.27 billion and down from 1.31 billion tons a year earlier.
"The index of world sugar prices fell to 258 points from 259.3 points. The market is concerned about the effects of a possible El Nino weather event, and indications of below-average monsoon rains in India point to a possible output shortfall for the second-biggest sugar producer after Brazil, the FAO said.
"The FAOâs index of meat prices rose for a fourth month, advancing to 194.2 points from 192.8, the highest level since at least 1990, the agencyâs data show. The increase was mainly due to higher pork prices on the back of the U.S. outbreak of Porcine Epidemic Diarrhea virus, according to the FAO.
"To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net"
I've taken the relevant pieces of your article out to remove the noise. It's a wonderful thing that people around the world will now be able to have their cereal in a bowl of vegetable oil for next to nothing moving forward.
Lol. It sucks when reality doesn't cooperate with your worldview, huh?
And why can't they use milk for their cereal, it's down too!