The USDA has released their projections for food price inflation in 2011/2012, showing troubling forecasts that may send you to the grocery store today, before paying higher prices tomorrow. The report shows that the Consumer Price Index (CPI) for all food increased 0.8 percent between 2009 and 2010, and is forecasted to increase 3.5 to 4.5 percent in 2011.
Bruce Krasting notes that the USDA’s projections are especially troubling considering Federal Reserve Chairman Ben Bernanke has said he wants to contain inflation (although excluding food and energy) at less than 2%. Food inflation is running at double his target. Writing in Business Insider, Krasting says the problem is even more serious than the USDA indicates and that global demand is set to push prices even higher as time goes on:...
we need to be growing gardens and sharing produce with one another in our neighborhoods.....it is "love thy neighbor". fermenting foods is an excellent way to extend the life of vegetables/milk while gaining many benefits.
it is not only the price of food that is becoming more difficult but the quality. fillers are a way to cut cost. imported prepared foods can be a concern.
While food prices have increased, I am a bit concerned about the Blaze being a reliable news source. Glenn Beck is a sensationalist (plus a Mormon), and as a result his website is going to reflect his worldview. Let's remember that the good Lord will watch over us and give us wisdom when purchasing and preparing food for our families. Of course we should be wise and learn some self-reliance through gardening, canning and freezing foods.
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Dr. Alan Cairns | 3/9/2009
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