This page has been archived and commenting is disabled.

Meat Prices Surge Most In 11 Years

Tyler Durden's picture




 

Hardly surprising given the surge in beef and pork that we have been noting, but according to the latest inflation data from the BLS, meat prices spike by almost 3% in April - the most since November 2003 (this is also the 2nd biggest price spike in 34 years!) As we noted previously, this soaring food price inflation is not about to stop anytime soon...

 

 

And just the monthly change: No hedonic meat adjustments here.

The Fed 'meme' that low-flation is as dangerous as high-flation (thus providing them an excuse to keep priming the pump) is about to run into a problem as the hedonic manipulation of government-provided inflation data runs into the ugly reality of things that we need actually soaring in price...

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 05/16/2014 - 01:51 | 4765529 trader1
trader1's picture

buy organic and local if you can. 

Fri, 05/16/2014 - 15:20 | 4767408 MeelionDollerBogus
MeelionDollerBogus's picture

Couldn't help but notice a lot of people buy in without logical deduction, but aluminum, barium & various (petrochemical) polymers too heavy to be saturated in the air? Like they'd fall out like dust pretty much right away?

Thu, 05/15/2014 - 21:12 | 4764896 wanwer
wanwer's picture

I happen to own a steak restaurant.  We cannot raise our prices as fast as our costs are rising without scaring customers off.  Inflation helps the people that can spend the printed money first.  Everyone else gets bent over.  BUT....the customers will blame me.  I can't show them invoices from my food vendors or say "talk to Yellen."  This will all implode at some point.  It will be ugly but very necessary.

Fri, 05/16/2014 - 15:04 | 4767356 MeelionDollerBogus
MeelionDollerBogus's picture

It's sad, too, that so many people don't do their own grocery shopping & wouldn't even know.
I check all the prices all the time. I've gone to avoiding almost all red-meat purchases just because prices are nowhere near as good per pound for nutrition as chicken.
I might go with pork but for steak the prices are far, far too high, same with lamb and I was shocked to see RABBIT which is far from rare running at over 22/lb.
WTF. Rabbit isn't common to see at the local grocery stores but it sure as hell isn't hard to come by generally.

Thu, 05/15/2014 - 21:31 | 4764947 benqbiggis
benqbiggis's picture

Inflation is not only when prices are pushing up (positive).

If certain products with deflating prices during a inflationary policy, it means that with no inflation the prices would down a lot more

For example: food 5% inflation, clothes 0%, electronics -2% (with CB printing money), with no printing money by CBs we could have food 0%, clothes -5% and electronics -7%

Fri, 05/16/2014 - 01:25 | 4765495 steelrules
steelrules's picture

Here in Canada over night gas went up 10 cents / litre in my area, that translates to 40 cents / US gallon, gas is now $5.72 CDN / gallon in my area.

Expect everything to go up.

Fri, 05/16/2014 - 14:59 | 4767326 MeelionDollerBogus
MeelionDollerBogus's picture

True & it's not surprising given how oil prices fluctuate but it's dropped just as fast in the previous week where I am so I suppose we can "live with it".
For now.
We'll see if oil & gas are pushed up enough to hit 1.40/litre.

Do NOT follow this link or you will be banned from the site!