By FITSNews || It was barely reported on by the MSM, but the inflationary measure that matters most to Americans who are struggling to make ends meet is shooting up dramatically.
According to the Bureau of Labor Statistics, food inflation in March jumped by 2.4 percent – the sixth consecutive month that the indicator has gone up and its largest monthly increase in more than a quarter century. Within that increase are some troubling annual cost hikes.
For example, fresh and dry vegetables are 56.1 percent more expensive than they were a year ago, while the costs for fresh fruit (28.8 percent) and eggs (33.6 percent) are also on the way up.
While food gets costlier, the number of people that government is responsible for feeding is growing dramatically. There are currently 39.4 million Americans receiving food stamps – which is a 22.4 increase from a year ago.
Can anybody say “unsustainable?”
Of course, according to one of the leaders of South Carolina’s liberal establishment, now is the perfect time to impose a $375 million food tax.
More important from a macro-economic perspective, there is rising concern that inflation on food and gasoline purchases (i.e. necessary purchases) is taking up a disproportionate share of the U.S. “recovery.” In February, for example, food and gasoline sales accounted for nearly 60 percent of the nation’s retail sales gains.
By Just a good ole boy May 11, 2010 at 11:35 am
Between food inflation and a food tax we could finally find a solution to the obesity problem facing this state and country…
By darby May 11, 2010 at 12:39 pm
Gee–how much has the dramatic increase in fuel prices over the past year influenced the price of food?
(Kinda like a regressive tax–if you will)
BBBut I thought once Obama got elected the seas would recede with the price of oil…
(No wonder BP has given Obama more contributions than any other pol)
By countryboy May 11, 2010 at 12:55 pm
Yet when it comes to Social Security check increases our government says there is no inflation.
By CNChapin May 11, 2010 at 1:49 pm
Democrats hate people who eat. It’s that simple. They hate anyone that actually consumes food on a regular basis. That’s why they’re implementing such egregiously inflationary policies. Oh and you ain’t seen nothing yet.
By darby May 11, 2010 at 2:12 pm
CN- I disagree. Democrats just hate not being in power. Anything which expands their power is just peachy. Who cares if people starve because of a dysfunctional government intervention? Just another excuse to expand the governemnt’s role in your life.
By reasonable May 11, 2010 at 4:11 pm
This is the free market in action. Surely you intelligent folks recognize the rights of those in free enterprise to charge whatever the market will bear. Right? In fact, an uninhibited free market always promotes good economic policy. All one need do is look at the situation(s) that led to the economic crash to know how brilliantly unchecked and unfettered free enterprise works for the greater good. There actually are two sides worth thinking about…that is if you care to exercise intellect as part of the debate.
By WorkingTommyC May 11, 2010 at 7:14 pm
Reasonable, their are many more than two sides to any argument. You might understand that if you exercise your intellect at all.
Your argument has no merit since we’ve had a fascist market for quite some time now. You can’t say that it was the few free market forces left that did anything since the fascist market forces are like balls and chains on every transaction that occurs. There was nothing “unchecked and unfettered” about it.
When left pretty much to themselves before the creation of the interventionist Federal Reserve, there were booms and busts but they were small in amplitude and recovery was very quick. Starting with and since the Great Depression, the bubbles are pumped up by the government to the point that the collapses are more likely catastrophic and the recoveries are very long term.
Every time we give mega-corporations tax money, taking risks away from the elitist power mongers, they abuse the system even more. The working folks will be the ones in the end whose sweat is stolen from them when the dollar loses value in order to subsidize the super-rich.
By Ginder May 11, 2010 at 8:56 pm
hungry
By Dino May 12, 2010 at 3:30 am
Democrats, republicans, what is the difference? Please get past this paradigm!! They all work for the same people. One election the Dems win, nothing changes, we just kept going down the same road. Next election the Repubs win, same road, nothing changes. If either one of those groups actually cared about “we the people”, don’t you think something, anything would be different today? Think about it for a minute, PLEASE!!!!!
By Emile DeFelice May 12, 2010 at 5:17 am
It would be a lot more expensive without all the direct and indirect government subsidies, which everyone loves, Republican and Democrat alike.
By Cooter Brown May 12, 2010 at 6:48 am
Start growin’ yer own food, folks (even jest sum ov it), an’ all dis goes away… Ye don’t need da man messin’ wit yer tender vittles!
By John Steinberger May 12, 2010 at 7:44 am
A big factor in this inflation is the government policy of converting corn to ethanol. That affects the cost of livestock feed.
By Elmo May 12, 2010 at 11:50 am
Bank bailouts, tremendously large federal deficits,the Federal Reserve refusing to be audited, one trillion euro bailout, and skyrocketing food prices are not coincidences.
Cooter Brown is right on target- home grown tomatoes are much better for you than wooden nickels and paper money.
By T4 May 15, 2010 at 8:18 pm
WTC,
Do they sell post cards in Fantasyland?