Not updated but we've seen the hysteria from the rise in food prices before:
Yawners.
How about you overlay that with wages? That might wake you up. Oh, and real wages, please - not nominal.
Producer Prices Surge Most In Over Four Years As BLS Discovers Food Inflation
- Thread starter Tsing Tao
- Start date
How about you overlay that with wages? That might wake you up. Oh, and real wages, please - not nominal.
the carne asada burrito indicator just spiked to new highs.
I paid just shy of 10 bucks yesterday for a carne asada burrito and a coke... in a typical taco shop in a lower cost area of town.
_____
I posted this in 2011.
"Or the price of mexican food.
I payed 5.75 for a carne asada burrito yesterday at a hole in the wall.
they were 4.50 at the same place a year and half ago."
I paid just shy of 10 bucks yesterday for a carne asada burrito and a coke... in a typical taco shop in a lower cost area of town.
_____
I posted this in 2011.
"Or the price of mexican food.
I payed 5.75 for a carne asada burrito yesterday at a hole in the wall.
they were 4.50 at the same place a year and half ago."
Ah, sarcasm... How wonderfully humorous of you!
As I've stated before, I work for a large consumer products company that has more than 50 name brand products in your local grocery chain. We just got word that we'll be taking price on various products within 20 or so of those brands, some to lead pricing moves in the category, others to match competition's moves, based on increased input costs.
Unfortunately, I am not able to share anything specific because of confidentiality reasons, and I realize this will cause detractors and trolls to shout "anecdotal", but given what competition also shows in pricing action, you are about to see a significant spike in food prices at retail. It could be the most significant since 2007.
Stay turned....
Unfortunately, I am not able to share anything specific because of confidentiality reasons, and I realize this will cause detractors and trolls to shout "anecdotal", but given what competition also shows in pricing action, you are about to see a significant spike in food prices at retail. It could be the most significant since 2007.
Stay turned....
<blockquote class="twitter-tweet" lang="en"><p>Real, across the board inflation - which has started to accelerate will be bad for bonds - part of the Central Bank Superfecta</p>— Peter Tchir (@TFMkts) <a href="https://twitter.com/TFMkts/statuses/468732640846413824">May 20, 2014</a></blockquote>
Rising food prices boost wholesale inflation
Doug Carroll, USA TODAY 3:14 p.m. EDT May 14, 2014
"Wholesale prices rose sharply last month, driven up partly by higher prices for meat and other foods.
"The producer price index, which measures changes in the prices of goods and services that companies buy, increased 0.6% in April, the Labor Department said Wednesday.
"Although inflation remains low, wholesale prices last month were up 2.1% on an annual basis. That's the biggest 12-month increase in more than two years and close to the Federal Reserve's 2% annual inflation rate target.
"Inflation is back and this can only mean one thing. Slack in the economy is evaporating more quickly now as the economy gets closer to full employment," said economist Chris Rupkey, of Bank of Tokyo-Mitsubishi in an email to clients. "Bet on it. Inflation isn't dead. We found some in today's PPI report."
"Economists had expected Wednesday's report to show a 0.2% increase from March, according to Action Economics survey's median forecast. Wholesale prices rose 0.5% in March and fell 0.1% in February.
"Higher profit margins for wholesalers and retailers were behind two-thirds of last month's jump in prices. Margins shrank during the winter due to heavy discounting.
"An 8.4% increase in meat prices in April accounted for more than a third of the jump in producer prices, the Labor Department said.
"Drought, unusually cold winter weather, a shrunken cattle herd and a virus in the hog population have all contributed to higher wholesale food prices in recent months, which have been flowing through to consumers. Prices for processed poultry and eggs have also risen.
"But increases in food prices this year follow declines in much of 2013.
"Other contributors to higher wholesale prices last month were gasoline, light trucks, residential electric power, processed poultry and dairy products. Prices fell for residential natural gas, passenger cars and soft drinks.
"Energy prices rose just 0.1% last month. Excluding food and energy costs, which can be volatile, so-called core prices increased 0.3% in April.
"Core goods prices â excluding food, energy and services costs â have risen 0.3% or more in three of the past five months, Rupkey notes.
"What this trend means for consumer prices remains to be seen. Consumer prices in March were up 0.2% from February and 1.5% year over year."
http://www.usatoday.com/story/money/business/2014/05/14/producer-price-index-april/9053889/
Doug Carroll, USA TODAY 3:14 p.m. EDT May 14, 2014
"Wholesale prices rose sharply last month, driven up partly by higher prices for meat and other foods.
"The producer price index, which measures changes in the prices of goods and services that companies buy, increased 0.6% in April, the Labor Department said Wednesday.
"Although inflation remains low, wholesale prices last month were up 2.1% on an annual basis. That's the biggest 12-month increase in more than two years and close to the Federal Reserve's 2% annual inflation rate target.
"Inflation is back and this can only mean one thing. Slack in the economy is evaporating more quickly now as the economy gets closer to full employment," said economist Chris Rupkey, of Bank of Tokyo-Mitsubishi in an email to clients. "Bet on it. Inflation isn't dead. We found some in today's PPI report."
"Economists had expected Wednesday's report to show a 0.2% increase from March, according to Action Economics survey's median forecast. Wholesale prices rose 0.5% in March and fell 0.1% in February.
"Higher profit margins for wholesalers and retailers were behind two-thirds of last month's jump in prices. Margins shrank during the winter due to heavy discounting.
"An 8.4% increase in meat prices in April accounted for more than a third of the jump in producer prices, the Labor Department said.
"Drought, unusually cold winter weather, a shrunken cattle herd and a virus in the hog population have all contributed to higher wholesale food prices in recent months, which have been flowing through to consumers. Prices for processed poultry and eggs have also risen.
"But increases in food prices this year follow declines in much of 2013.
"Other contributors to higher wholesale prices last month were gasoline, light trucks, residential electric power, processed poultry and dairy products. Prices fell for residential natural gas, passenger cars and soft drinks.
"Energy prices rose just 0.1% last month. Excluding food and energy costs, which can be volatile, so-called core prices increased 0.3% in April.
"Core goods prices â excluding food, energy and services costs â have risen 0.3% or more in three of the past five months, Rupkey notes.
"What this trend means for consumer prices remains to be seen. Consumer prices in March were up 0.2% from February and 1.5% year over year."
http://www.usatoday.com/story/money/business/2014/05/14/producer-price-index-april/9053889/
LOL! Closer to full employment. Sure, I guess in the sense that Saturn is closer to the sun than Neptune.
It has been for a while, but you need to define "while" in order to be clear. Additionally, the real question is whether you believe that the government reporting "no inflation" or "very low inflation" is accurate or not.