Food Prices Are Soaring Faster Than Inflation and Incomes
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Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#2"thanks to a combination of poor weather, increased demand and virus-mangled global supply chains."
Seems like a lost opportunity to create so much anxiety with a long piece like this, to then only have this single line to hint at a reason for the rise.
Can anybody more economically minded clarify if this is just post-covid rebound supply chain prices or is this food prices adjusting closer to their 'real' cost?
Also what events do they refer to regarding 'poor weather'?
Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#3Here it comes. Cost of running money printer too hard.
Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#4After reading this article, I want to stock up on more food for myself and my five dependents. Double our reserves of biscuits, cereals, frozen meat, frozen bread, canned food, preserves, long-life milk, honey, multivitamins, MREs, etc etc.
Is this panic buying? Is it OK? Does it hurt other people? I’d be interested to hear some different points of view.
Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#5I don't get how food consumption can increase in a pandemic. Should be constant in or outside a pandemic situation. Possibly somewhere crops are getting rotten because of newly imposed export restrictions, or for some other things.
Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#6Here it comes. Cost of running money printer too hard.
Having we been giving much printed money to people who need more food?
Most people in the western world aren't likely to buy more food, just because they have more money.
Not saying, we won't see inflation, who knows, but I doubt we'll see it in household items.
Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#7I don't get how food consumption can increase in a pandemic. Should be constant in or outside a pandemic situation. Possibly somewhere crops are getting rotten because of newly imposed export restrictions, or for some other things.
In the UK at least, it's very much due to new-found export (and import) restrictions. The price of food has slightly increased since brexshit, whereas its availability has plummeted: the number of varieties of vegetables stocked by my local Tesco, for example, has plummeted, and the stock sells out almost immediately after delivery.
Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#8I don't get how food consumption can increase in a pandemic. Should be constant in or outside a pandemic situation. Possibly somewhere crops are getting rotten because of newly imposed export restrictions, or for some other things.
>I don't get how food consumption can increase in a pandemic.
depression spurs eating binges.
being inside what to do, oh lets make more advanced food. lets bake cakes with the kids instead of sending them out to play with friends. etc. etc.
so increased consumption in combination with other, probably more important, pandemic problems.
Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#9After reading this article, I want to stock up on more food for myself and my five dependents. Double our reserves of biscuits, cereals, frozen meat, frozen bread, canned food, preserves, long-life milk, honey, multivitamins, MREs, etc etc. Is this panic buying? Is it OK? Does it hurt other people? I’d be interested to hear some different points of view.
Given that you don't know how the future will be, instead of doubling all your reserves right away, which definitely sound like panic buying, you may consider a less aggressive approach. Don't just buy everything right away, instead focus only on the most important type of food you need and slowly increase your reserve by buying a bit more when you do your groceries (you buy rice once every 2 weeks? Consider buying a few more kg each time and add to your reserve). And once you're good with rice/noodles/cereals you can do the same for other stuff.
I call this FCA, aka "Food Cost Averaging".
Re: Food Prices Are Soaring Faster Than Inflation and Incomes
#10"thanks to a combination of poor weather, increased demand and virus-mangled global supply chains." Seems like a lost opportunity to create so much anxiety with a long piece like this, to then only have this single line to hint at a reason for the rise. Can anybody more economically minded clarify if this is just post-covid rebound supply chain prices or is this food prices adjusting closer to their 'real' cost? Also…
Pure speculation: Texas. (also central US crops? but it's probably too early for that)
I wonder how many warehoused things that require power and integrity got damaged.