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Thread: Food Inflation/Deflation

  1. #1

    Default Food Inflation/Deflation

    This thread is to discuss food Inflation in the Oklahoman City area and the general cost of food in the United States.

    According to the Food and Agriculture Organization of the United Nations, inflation in a basket of food has steadily increased since last July.

    http://www.fao.org/worldfoodsituatio...ricesindex/en/

    We will discuss the impact the rising food prices have in our personal economy and the effects it has on the lower middle class. If you are able please cite your reasources when making a claim.

  2. Default Re: Food Inflation/Deflation

    Bound to happen when the fed prints more money than ever in history. Should be an interesting year.

  3. #3

    Default Re: Food Inflation/Deflation

    ^ You are narrowing the focus of the original post.
    The OP was referencing a world wide data base, not USA. If you are going to opine on the Fed, maybe some #''s that apply only to the USA would be relevant.

  4. #4

    Default Re: Food Inflation/Deflation

    This is really a supply side problem not an increase in demand. It really has nothing to do with the fed printing money. The rising price of food has more to do with supply chain disruption from the pandemic mixed with recent extreme weather events that has caused shortages and price increases. The freeze event alone in southern Texas destroyed hundreds of millions of dollars in crops. That cost will be passed on to the consumer as retailers supplant this inventory from regions further away.

    This is why certain goods (like food and lumber) are seeing price increases while the inflation rate of the broader economy is almost non existent. If printing money was to blame, you would expect to see rising rates across the board not just in specific markets.

  5. #5

    Default Re: Food Inflation/Deflation

    I've noticed that many food items locally have gone up in price.

    However, Beef has come back down.

    If you remember at the start of the covid crisis Beef basically doubled in price, or maybe a little more.

    My main go to for food purchases is Crest. I also shop some at Sprouts and at Aldi's.

  6. #6

    Default Re: Food Inflation/Deflation

    I found this report.

    https://www.marketplace.org/2021/03/...cording-to-un/

    In addition to what is being discussed above, apparently China is buying more cereal crops to feed thier local pork industry.

  7. #7

    Default Re: Food Inflation/Deflation

    I haven't really noticed except for meat in general a few months ago. Not just beef but also pork, chicken and fish. But as mentioned before it came back down. Not food really but TP and paper towels were astronomical when they became available again. They still haven't dropped to pre panic prices. And limes tripled a few months ago. They've come back down to twice what they were a year ago.

  8. #8

    Default Re: Food Inflation/Deflation

    Definitely has more to do with messed up supply chains than it does fed money printing

  9. #9

    Default Re: Food Inflation/Deflation

    Quote Originally Posted by jccouger View Post
    Definitely has more to do with messed up supply chains than it does fed money printing
    Supply chains were really bad for awhile. At least from the end I know a little about. Warehouses would try to place orders from manufacturers or suppliers and either couldn't order or the order would be accepted but the product never showed and ended up being cancelled. Things are much better now except for certain isolated items. For instance I guess the Propel Flavored Water plant must be shut down because it can't be found. Most vendors are begging to get their shipments into warehouses.

  10. #10

    Default Re: Food Inflation/Deflation

    Outside of health care and higher education, food and beverage has been a leading category of inflation for awhile.

    Basically, essential consumer goods and services have been going up for years. That's not to say that Pandemic factors or stimulus measures haven't had an effect on food prices, but it's definitely nothing new.

  11. Default Re: Food Inflation/Deflation


  12. #12

    Default Re: Food Inflation/Deflation

    https://www.nbcnews.com/business/con...-year-n1263897

    NBC seems to think we will have higher food prices all year.

  13. #13

    Default Re: Food Inflation/Deflation

    If you talk to restaurant operators, they'll tell you they are all having a terrible time finding enough product.

    Lots of people are running out of things due to high demand in their restaurants, but the suppliers can't get enough to them to keep up.

  14. #14

    Default Re: Food Inflation/Deflation

    Quote Originally Posted by Pete View Post
    If you talk to restaurant operators, they'll tell you they are all having a terrible time finding enough product.

    Lots of people are running out of things due to high demand in their restaurants, but the suppliers can't get enough to them to keep up.
    This is a little off topic for this thread but this KFOR news segments, including an interview with Cathy Cummings, highlights another shortage being experienced by local restaurants. https://kfor.com/news/local/oklahoma...n-to-cannabis/

  15. #15

    Default Re: Food Inflation/Deflation

    Quote Originally Posted by unfundedrick View Post
    This is a little off topic for this thread but this KFOR news segments, including an interview with Cathy Cummings, highlights another shortage being experienced by local restaurants. https://kfor.com/news/local/oklahoma...n-to-cannabis/
    Seeing how you put this out there it warrants a response. If you want good employees than offer good wages and benefits. Obviously most employers have this figured out.

  16. #16

    Default Re: Food Inflation/Deflation

    Quote Originally Posted by Jersey Boss View Post
    Seeing how you put this out there it warrants a response. If you want good employees than offer good wages and benefits. Obviously most employers have this figured out.
    Well said Jersey Boss.

  17. #17

    Default Re: Food Inflation/Deflation

    Here is a list of commodity price changes. As you can see many items are up, but not all items.

    https://www.indexmundi.com/commodities/

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