patrick.net
An Antidote to Corporate Media
1,260,427 comments by 15,050 users - AmericanKulak, Ceffer, WookieMan online now
invite responseComments 1 - 6 of 6 Search these comments
Well if you're shopping at ALDI, you're already escaping the racket that everyone else subjects themselves to at the Krogers and Costco of the world
Rew
2016 Sep 27, 12:13pm
http://www.ers.usda.gov/datafiles/Food_Price_Outlook/Food_Price_Outlook/CPIforecast.xlsx
Food CPI has been below historical trend and is projected to continue to be low. It potentially could be deflationary this year.
The "food is so expensive this is the worst economic... whatever" narrative is way bogus. Food is often pointed at as an indicator of loose monitary policy causing inflation. The truth is food has shown no such thing at all ... and doesn't look like it will.
Something tells me the story will get 500angry responses of "well my milk costs 3.41" as if this single anecdote will render the story void.
Strategist
2016 Sep 27, 12:50pm
Food CPI has been below historical trend and is projected to continue to be low. It potentially could be deflationary this year.
Thanks to technology and cheap labor.
Tenpoundbass
2016 Sep 27, 12:54pm
I remember NOT buying my steaks at Publix for $7.99 a lb before they fixed beef prices with massive herd kill off several years back.
I would instead buy at Doris for $3.99 or $2.99 a lb for Whole or half loin New York Strips and $5.99 for whole or half Prime Rib steaks.
Now commodity on Beef is less than before they did that, but beef prices are still inflated.
https://www.yahoo.com/finance/news/eight-cent-eggs-grocery-prices-090103272.html
"In a startling development, almost unheard of outside a recession, food prices have fallen for nine straight months in the U.S. It’s the longest streak of food deflation since 1960 -- with the exception of 2009, when the financial crisis was winding down. Analysts credit low oil and grain prices, as well as cutthroat competition from discounters.
Eggs and beef have have grown especially inexpensive, and it isn’t only an American phenomenon: In England, Aldi recently offered its prized 8-ounce wagyu steaks from New Zealand for about $6.50 -- a little more than the price of a pint of beer."
#inflation