Inflation Under Control? “Price Index for Meats, Poultry, Fish & Eggs Rockets to All-Time High”
“(CNSNews.com) – The seasonally-adjusted price index for meats, poultry, fish, and eggs hit an all-time high in May, according to data from the Bureau of Labor Statistics(BLS).
In January 1967, when the BLS started tracking this measure, the index for meats, poultry, fish, and eggs was 38.1. As of last May, it was 234.572. By this January, it hit 240.006. By April, it hit 249.362. And, in May, it climbed to a record 252.832.
“The index for meats, poultry, fish and eggs has risen 7.7 percent over the span [last year],” says the BLS. “The index for food at home increased 0.7 percent, its largest increase since July 2011. Five of the six major grocery store food group indexes increased in May. The index for meats, poultry, fish, and eggs rose 1.4 percent in May after a 1.5 increase in April, with virtually all its major components increasing,” BLS states.
In addition to this food index, the price for fresh whole chickens hit its all-time high in the United States in May.
In January 1980, when the BLS started tracking the price of this commodity, fresh whole chickens cost $0.70 per pound. By this May 2014, fresh whole chickens cost $1.56 per pound.
A decade ago, in May 2004, a pound of fresh chicken cost $1.04. Since then, the price has gone up 50%.
Each month, the BLS employs data collectors to visit thousands of retail stores all over the United States to obtain information on the prices of thousands of items to measure changes for the Consumer Price Index (CPI).
The CPI is simply the average change over time in prices paid by consumers for a market basket of goods and services.
The BLS found that there was a 0.7% change in the prices for the food at home index in May, which tracks foods like meats, poultry, fish, eggs and dairy, as well as many others.”
you are correct………rent, gas,insurance,taxes…….bank fees all going higher.
When you hear all the hype in the media today about the capture of a Benghazi suspect, you might want to bear in mind this report.
And ask yourself whether the capture was a designed distraction from the I.R.S. scandal.
A WSJ reporter said that as of a week or so ago the US had a list of about 6 potential suspects, but did not know who did it.
IS DISS BIRDMAN ? CFS ,
My chooks supply our eggs.
I also grow out our own fish for consumption in the backyard (trout, silver perch & eel tailed catfish).
I also grow about 40% of the vegetables our household consumes weekly…no where near self sufficient but we are trying to get closer little by little over time.
its a slow constant work in progress LOL.
Cheers
you are way ahead of the gang………..do not let the BLM, know, or you will be a target.
they(blm)…..might get you for raising” exotic fish”…..ie. eel tailed catfish
or endangered species………
IF GOLD CLOSES TODAY AT ……….$.1271.70…….it will make it THREE DAY’S in a row. VERY strange, or not.
Silver seems to have a lot of pressure under it. June should be a time of weakness. $1000 gold and $15 silver is more and more unlikely, contrary to a lot of predictions including some on this site. Is Goldman wrong, again?
Lawrence…….I think you are correct……btw……..KWN…has a great chart concerning support of silver at $19.70(?)………kwn today check it out……….best…………jerry
Even there are some KWN haters here, I still say I do go to that site around once a week. I feel that Eric is ahead of the time and sometimes too much. However, his site may help me to understand the financial situation and where the world is headed. Most of his guests are sincere and VERY intelligent except a couple of them I really don’t like. Who in North America will interview Nigel Farage? I remember that Eric bought 3 tons of silver at $4 in 2002 and was talking about coming financial turmoil in early 2000s. Later on a lot of his or his guest’s predictions turn out to be right. He used to show up in Jim Publava’s radio a lot and sometimes even interviewed people on Jim’s behalf. Now I feel they are polar opposite. Jim Puplava seems to bought into Martin Armstrong’s theory and quite positive on everything. His 180 degree turn surprised me last year. I think he know something from Martin and other contact and trying to play the timing game. Unfortunately he has lost a lot of his good interviewees.
I stopped watching Jim P……when he went to a pay service. I have already paid for my education, and do not need an investment councilor……..
PM. are still in play….and will be as long as we have fiat currency. History has shown, fiat does not work. The timing may be a little off for some people, but, LONG TERM, there is no substitute for gold and silver, ….like there is not substitute for real estate .
btw……..there are guys who come to this site …..to disrupt one’s thinking, I have been here since 06 -07…..And I can tell you, I have gained a world of knowledge of who has more BS, and will try to shake one out of one’ position……… This is a LONG TERM INVESTMENT…if you what to TRADE, you can make money here also, there are some really sharp guys here.exclude AL, is is a lost sheep….(joke)……………best………….j
I still subscribe to Financial sense since I feel Jim is quite good at big picture analysis. I happened to almost agree with everything he said before his 180 degree turn mid last year. He also claimed to agree with Peter Schiff 100% prior to that. However, I feel he is off track lately and he will come back later unless he hands over his service to his sons, then I will stop listening. His sons are nothing but main stream analysts.
typo…what….to want
Al is a lovely guy. His strength is that he knows a lot of good people and solid in fundamentals. But his TA is as strong as mine☺.
ditto Lawrence………that is one of the reasons I stick around.
Are you confusing Erik Townsend with Eric King?
Eric King….is at KWN….or KING WORLD NEWS……..
tHE CHART….on silver I was talking about is by David P. out of Europe, at KWN.
that project silver to go over $65.
No CFS, Erik Townsend is nothing. He is a new friend of Publava. You can google Financial sense Eric King and Jim Dines interview. I thin it happened some day in 2008.
Sorry it should James Dines for that interview. Eric King used to be a good friend of Jim Publava and helped Jim for interviews many times before and after 2008. It was Jim Publava who encouraged Eric to have his own radio broadcast and Eric seems to be rich and full of great contacts. He is willing to shoulder the cost as well. Now Jim and Eric hold different views. Too bad. I think Jim wants to hand over the show to his sons so he somehow has to change the the tone of the broadcast. This is speculation on my part.
btw……Goldman.is part of the fed establishment….the revolving door to the fed and the thieves………Most all of Goldman insiders are around the fed……GOLDMAN IS THE FED.
You are right. Goldman is at the heart of gold price suppression since they are joint to the hip with the US treasury and FED. However, they did make some good calls on PM since if the price does not go their way, they can make it happen. However, at the turning point, they will (likely) give a prediction so off the chart and make everyone have a wrong bet. They may even come back apologizing later for the wrong prediction after the fact. However, it does not help you to recover you loss . I keep thinking 1000 gold might be THE ONE.
GOLDMAN……..These guys are sharks,,, just that,,, sharks…….
they have to give some good calls , just to signal their friends……..and get their commission checks……
I strongly disagree Lawrence. It would be a mistake to read manipulation as normal trading. SLV had to be raided yesterday to obtain physical.
I agree with you. The price is controlled, or manimulated to the point of rediculous. No other metal has been pushed under production cost for so long and still 40% of its old high 34 years ago! I am certain someone wants to press gold/silver down to the magic number of under $1000/$15. However, I feel that they are not able to do it at this point. June is always the weakest month due to the ease/need of manipation and lack of physical demand during the summer. I bought a few silver related stocks and ETF early this month and still have 40K waiting on the side line. I hope the price dip at the end of the month but I may have to buy physical regardless of the price.
Jim Willie
There is always a time lag between the printing of money and the onset of inflation caused by such printing.
It is my belief that rising food prices are merely the tip of the iceberg.