USA Today reports that the US Bureau of Labor Statistics is saying that "food prices rose 0.4% in February, the most since September 2011 … Beef and veal shoppers were socked with some of the biggest increases, as prices jumped 4% from January."
The story says that this was an exception from the broader picture, which showed that falling energy costs offset the food price increases.
According to the paper, "Droughts, unusually cold winter weather, rising exports and a virus outbreak in the hog population are among the causes of food inflation, which is expected to accelerate in 2014. The Agriculture Department expects grocery store prices to increase as much as 3.5% in 2014, up from 0.9% last year."
Beef, pork, poultry, milk and fresh produce all are expected to be affected by the price increases.
The story says that this was an exception from the broader picture, which showed that falling energy costs offset the food price increases.
According to the paper, "Droughts, unusually cold winter weather, rising exports and a virus outbreak in the hog population are among the causes of food inflation, which is expected to accelerate in 2014. The Agriculture Department expects grocery store prices to increase as much as 3.5% in 2014, up from 0.9% last year."
Beef, pork, poultry, milk and fresh produce all are expected to be affected by the price increases.
- KC's View:
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When I read stories like this, it makes me think that the chasm being created between the haves and the have-nots, and the issue of wage disparity, is only going to be exacerbated by the fact that a large number of people are going to have trouble feeding their families, and a small group of folks will hardly notice. The implications will be cultural, societal and economic. And I don't think it is going to be pretty.
