Bottomfeeder 244 Posted August 15, 2007 Share Posted August 15, 2007 I know there are those Kool-Aid drinkers here regarding government numbers on inflation. But, here it is. Real inflation numbers. MIDLAND, Va.  The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits. http://www.mcclatchydc.com/227/story/18902.html Link to comment Share on other sites More sharing options...
AFTiger 282 Posted August 15, 2007 Share Posted August 15, 2007 OOPS! Maybe we need to stop pushing ethanol. Link to comment Share on other sites More sharing options...
otterinbham 0 Posted August 15, 2007 Share Posted August 15, 2007 I know there are those Kool-Aid drinkers here regarding govermment numbers on inflation. But, here it is. Real inflation numbers. MIDLAND, Va.  The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits. http://www.mcclatchydc.com/227/story/18902.html Okay, overall food prices have increased 4.2 percent over the past year. What would be your point? The cumulative rate, minus the volatile food and energy sectors (Which have always been excluded), have increased 2.5 percent over the past year. It's certainly more than we'd like, but no indication of a runaway rate. After all, we could cherry pick data all day, given how gas prices declined 1.7% in July and 1.1% in June. What's more it's really not a good idea to pick 12 items out of the entire range of 20,000 products found in a grocery store and worry. For every item on that list, you'll find others that dropped a commensurate amount. Coffee, oranges, and every other food product that gets cultivated is notoriously suceptible to weather, much more so than fiscal policy. Link to comment Share on other sites More sharing options...
Bottomfeeder 244 Posted August 16, 2007 Author Share Posted August 16, 2007 I know there are those Kool-Aid drinkers here regarding govermment numbers on inflation. But, here it is. Real inflation numbers. MIDLAND, Va.  The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits. http://www.mcclatchydc.com/227/story/18902.html What's more it's really not a good idea to pick 12 items out of the entire range of 20,000 products found in a grocery store and worry. For every item on that list, you'll find others that dropped a commensurate amount. Coffee, oranges, and every other food product that gets cultivated is notoriously suceptible to weather, much more so than fiscal policy. Name something that has dropped in price. Link to comment Share on other sites More sharing options...
otterinbham 0 Posted August 16, 2007 Share Posted August 16, 2007 I know there are those Kool-Aid drinkers here regarding govermment numbers on inflation. But, here it is. Real inflation numbers. MIDLAND, Va.  The Labor Department's most recent inflation data showed that U.S. food prices rose by 4.2 percent for the 12 months ending in July, but a deeper look at the numbers reveals that the price of milk, eggs and other essentials in the American diet are actually rising by double digits. http://www.mcclatchydc.com/227/story/18902.html What's more it's really not a good idea to pick 12 items out of the entire range of 20,000 products found in a grocery store and worry. For every item on that list, you'll find others that dropped a commensurate amount. Coffee, oranges, and every other food product that gets cultivated is notoriously suceptible to weather, much more so than fiscal policy. Name something that has dropped in price. Over the past twelve months? Apparel. Home prices (As opposed to housing costs). New cars. Transportation. In the past three months, gasoline. Link to comment Share on other sites More sharing options...
TitanTiger 20,542 Posted August 16, 2007 Share Posted August 16, 2007 Lovely. All things I'm not in the market for, save gasoline. Link to comment Share on other sites More sharing options...
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