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15 Feb ’12
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Last time this happened was the beginning of arab spring
The Commodity Research Bureau's BLS Foodstuffs index a composite of prices of hogs, steers, lard, butter, soybean oil, cocoa, corn, Kansas City wheat, Minneapolis wheat, and sugar has suddenly exploded higher in 2014 following a multi-year slide from all-time highs, as chart 1 illustrates.
In the year to date, the index is up 14.9%, marking an upside move more than two standard deviations above the historical 3-month average return. Simply put, food markets are seeing prices increase at a pace reminiscent of the historic surge of 2010 and 2011, in the run-up to the high.
One of the biggest factors driving global disinflation over the past three years or so has been the slide in commodity prices. Therefore, if the current uptrend continues, it will likely have major implications for the global economy.
Unfortunately, this is not the sort of "demand-pull" inflation that policymakers so strongly desire, but rather the sort of "cost-push" inflation that can hit the consumer where it hurts.
"This sharp rise in food prices could prove a significant problem for some economies ahead, particularly as many currencies have weakened considerably, making imports more expensive," says Bartosz Pawlowski, global head of EM strategy at BNP Paribas.
Pawlowski figures the most exposed countries are those whose food imports comprise the largest share of total imports and have seen their currencies slide most against the dollar over the last year.
Read more: http://www.businessi.....z2vmpFozxz
20 Feb ’12
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The price of food is just crazy. I am constantly blown away by home much food, even crappy food, costs.
Something has to give eventually with the downward pressure on wages and the increasing cost of living.
15 Feb ’12
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agreed, we just had to revamp our menu due to increased food cost, I am concerned about backlash, but there is nothing I can do, except make my garden bigger
11 Mar ’12
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I heard a radio interview recently about food production. Unfortunately I don't remember much about it except the part about the asparagus being grown in South America, shipped to china for packaging then shipped to
Be RADICAL Grow Food
11 Mar ’12
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I heard a radio interview recently about food production. Unfortunately I don't remember much about it except the part about the asparagus being grown in South America, shipped to china for packaging then shipped to
The us grocery stores. The last few years of my life has been dedicated to eating as much as possible from what I can grow and put up. I'd like to find a local source of milk to trade for. My trips to the store consist of milk butter onions And potatoes (when mine run out) butter toilet paper dog food cat food and of course chocolate. I'm being literal here. It will change when we change it
Be RADICAL Grow Food
19 Feb ’12
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30469 said:
The price of food is just crazy. I am constantly blown away by home much food, even crappy food, costs. Something has to give eventually with the downward pressure on wages and the increasing cost of living.
I'm sure it's not what you we're referring to, but now a McDonald's "Value" meal is push almost $8. It's just insane.
15 Feb ’12
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Believe it or not McDonalds was part of the reason I raised my prices, I hadn't been there in years, my daughter wanted a value meal, I was shocked when the bill was over 8 dollars, we have a 1/2 lb burger and fries plate for 8.99 ,I was as cheap as McDonalds, I figured if it was time for them to raise their prices, it was time for us. So I raised the the 1/2 pound to 9.99 and added a 1/4 lb version for 7.99, so we are making the extra dollar which off sets the increased beef prices and people can still get a inexpensive option with the 1/4 lb version. The food cost is about the same for each version. We did the exact same thing with everything on the menu, raised the items a dollar, and offered a smaller version for a dollar less, the impact from a value perspective from the guests has pretty positive, they are pretty happy with the smaller more inexpensive options.
19 Feb ’12
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31117 said:
Believe it or not McDonalds was part of the reason I raised my prices, I hadnt been there in years, my daughter wanted a value meal, I was shocked when the bill was over 8 dollars, we have a 1/2 lb burger and fries plate for 8.99 ,I was as cheap as McDonalds, I figured if it was time for them to raise their prices, it was time for us. So I raised the the 1/2 pound to 9.99 and added a 1/4 lb version for 7.99, so we are making the extra dollar which off sets the increased beef prices and people can still get a inexpensive option with the 1/4 lb version. The food cost is about the same for each version. We did the exact same thing with everything on the menu, raised the items a dollar, and offered a smaller version for a dollar less, the impact from a value perspective from the guests has pretty positive, they are pretty happy with the smaller more inexpensive options.
I know I would be. I don't need a 1/2 pound burger. 1/3 is more than enough and 1/4 lb is fine.
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