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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 01/17/2009 : 20:53:00
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Grocery-store prices hikes most since 1980
Manufacturers plan more increases, but grocers aim to temper rise
By Matt Andrejczak, MarketWatch
Last update: 2:09 p.m. EST Jan. 16, 2009Comments: 270SAN FRANCISCO (MarketWatch) -- Grocery-store food prices jumped 6.6% in 2008, the largest annual spike since 1980, the Labor Department said Friday.
By food category, prices for cereal and baked goods hit consumers the hardest, rising 11.7% over 2007, followed by prices for meats, poultry, fish and eggs, which gained 5.1%. Fruits and vegetable rose 3.4%, while dairy products advanced 2.7% in price.
Video: Latest CPI Data Signals Risk of Deflation
WSJ's Phil Izzo and Kelly Evans talk about the consumer price index and the fallout from the events of 2008's decrease in spending. They discuss the threat of deflation and what it will mean to the economy.It was the second straight year shoppers paid a heftier price for a bag of groceries. In 2007, food prices at supermarkets rose 5.6% over 2006, a year when prices rose a meager 1.4%.
In 2008, food makers battled the largest spike in commodities they've ever faced, walloped by duel increases in key food ingredients and fuel, which all marched to historic highs in July. This took a beating on Pilgrim's Pride (PGPDQ:Pilgrim's Pride Corporation................. continued
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Think positive. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 01/18/2009 : 06:56:04
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Yes and so far little or none of the current deflation has make it to the grocery store. Prices have been holding steady. Ditto for my utility bill. Despite a huge drop in natural gas prices, prices made a big leap this winter becuase the gas company bought ahead this summer when prices were high.
So far, most of the deflation seems to be either in luxuries (not neccessities) or in industrial raw materials. The only deflation in the stuff people need seems to be at the gas pump. Maybe the price decrease in raw materials never even makes it to Joe Consumer before inflation picks up again.... |
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keys
Penny Collector Member
383 Posts |
Posted - 01/20/2009 : 17:18:58
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Food inflation is the inflation that the masses can't avoid and the government can't deny with much success.
Along the thread of grocery inflation is fast food inflation-
Three years ago (Just three years ago, not a decade or so ago)
A Subway Sandwich Shop near me was selling 2 footlongs for $7.99, any type, now the price is $5 each for some of their sandwiches.
Arby's Roast Beef ran a special 5 regular roast beef sandwiches for $5, now the special is 5 for $6.95
McDonalds had a double cheeseburger (two patties & two slices of cheese) for a dollar, now the same sandwich is selling for $1.19.
(They came up with a sandwich called the McDouble, which sells for a dollar but only has one slice of cheese. I had no idea a slice of cheese could go for so much.)
No, I don't eat fast food every day, I prefer to cook my own meals and save my money for other things (like copper cents and silver.) I like to keep my eye out on how the consumer is paying more and ending up with the same or sometimes less.
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I change with the times-
but like silver coins found in your change
I stay the same.
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The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/20/2009 : 17:41:51
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| Not only is the price of food going up but the size of cans and packages are srinking fast. I use to buy 6oz cans of tuna but now just about everyone has gone down to a 5oz and almost double in price. Best buy on tuna I can find now is at Aldi's. $.57 for a five ounce can. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/21/2009 : 05:43:43
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about 6 mos ago, canned pears were 84 cents at WM, then 88, now 1.00.
name brand pears (Del Monte) were about a buck, now 1.50. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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silverhalide
Penny Sorter Member
92 Posts |
Posted - 01/23/2009 : 10:08:12
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I agree there hasn't been deflation in grocery prices even though the price of the underlying commodity has dropped significantly. This indicates to me the sector from processors down to retailers must be operating at extremely high margins right now.
I have noticed many products have cleverly shrunk the size of their packaging.
I would say bulk potatoes has been the product that rose the most in pricing in the last 2 years. I used to pay $1 for a 10 lb bag of potatoes on special and now it is $3 and the retail price is $5.79.
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Foodflation hikes most since 1980
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