Food Inflation
Is Food Inflation Coming? What the Experts Say:
With the Fed printing money hand over fist, many experts are now predicting rapid food inflation - or even hyperinflation. This means that it may cost you $45 for a loaf of bread or $60 for a carton of eggs one day in the near future. Is inflation of food prices really a possibility? I believe it is - and that it's coming faster than we think. That's why this site exists, to help people protect themselves by storing food now. Whether you choose to buy a one year food storage package or build your own store of freeze dried food, deydrated foods or MREs, the important thing is to get prepared now. This page will list different quotes and news links related to food inflation. I'll be posting more articles and videos as they come out. More Food Inflation in hiding - Manufacturers are now shrinking packaging so you get less food for the same price. Check out this article from the New York Times:
Expect to see higher prices at your local Wal-mart soon:
Inflation is "going to be serious," Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY's editorial board. "We're seeing cost increases starting to come through at a pretty rapid rate." Here's the link to the full story: Walmart CEO Bill Simon Expects Inflation
"Hyperinflations are caused by extremely rapid growth in the supply of "paper" money. They occur when the monetary and fiscal authorities of a nation regularly issue large quantities of money to pay for a large stream of government expenditures. In effect, inflation is a form of taxation in which the government gains at the expense of those who hold money while its value is declining. Hyperinflations are very large taxation schemes." - Library of Economics And Liberty
"The National Inflation Association Projects Future U.S. Food Price Increases: The National Inflation Association projects that at the average U.S. grocery store it will soon cost $11.43 for one ear of corn, $23.05 for a 24 oz loaf of wheat bread, $62.21 for a 32 oz package of Domino Granulated Sugar, $24.31 for a 32 fl oz container of soy milk, $77.71 for a 11.30 oz container of Folgers Classic Roast Coffee, $45.71 for a 64 fl oz container of Minute Maid Orange Juice, and $15.50 for a Hershey's Milk Chocolate 1.55 oz candy bar." "An inflationary tide is beginning to ripple through America's supermarkets and restaurants, threatening to end the tamest year of food pricing in nearly two decades. Prices of staples including milk, beef, coffee, cocoa and sugar have risen sharply in recent months. And food makers and retailers including McDonald's Corp., Kellogg Co. and Kroger Co. have begun to signal that they'll try to make consumers shoulder more of the higher costs for ingredients." - Food Sellers Grit Teeth, Raise Prices - Wall Street Journal, Nov 4, 2010
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