Food Prices, Shortages & Inflation - The Trash Index

[FarmerJamie]

*** no wiki references here **
We can put this in terms we can all understand Hershey Bar Index

[1975] 1.4 oz.....15 cents
[2009] 1.55 oz....$1.10

Using the governments CPI Inflation Calculator
Inflation Calculator
If in 1975
I purchased an item for $
then in 2009
that same item would cost: $0.60
Rate of inflation change: 298.8%

So from the governments own CPI index, Hershey Bars rose in price higher than the rate of inflation.

But using the government's own Census data on un-adjusted median income
2009 $49,777
1975 $11,800

so with the median income spent completely on Hershey bars, in 2009, you could buy 82,961 bars, in 1975, only 78,667 bars. This was a period where wage growth outpaced price growth. Hershey bar prices went up, but it became a smaller piece of the personal budget. 2009 was the most recent data I could find.

This is why I stopped my pursue of an economics minor when I was getting my second degree. These numbers can be spun to say about anything, particularly to a general populace that cares more about what happened on MTV last week than what is going on in the real world. IMHO.

 

[CrimsonRose]

my hershey bars are only $1.09 does that mean I can't say it's still expensive! ROFL but now he is just going to say if we can afford chocolate then we are not hurting financially.....

hoosier well put!!!

 

[k0xxx]

Here's a some charts from the site mongabay.com showing commodity increases over the last ten years. Some may say that wages have increased over the time period of the charts, but not over the last three years, and that's where some of the charts are starting to look parabolic. There have been other price spikes in the past, but generally never so many, at the same time. Also, some prices started trending downward, only to resume their upward climb. If these don't make you consider stocking extras now, you may be an ostrich.

Barley
Coffee
Maize (Corn)
Wheat
Rice
Tea
Sorghum
Soybean Meal
Sugar
Palm Oil
Timber
Rubber
Copper
Lead
Cotton

 

[Boogity]

That's an interesting website, Mark. Thanks. I wonder how accurate these charts are or if there is some kind of political agenda hidden in there somewhere. But I've become skeptical of everything these days. American politics is ruining our country.

 

[R2D2]

Millions of ostriches, who can afford to aren't stocking up.They just don't believe or choose to ignore whats happening around them....

 

[Wifezilla]

Worldwide recession 65-75% likely.
http://www.cnbc.com/id/44324334

 

[abifae]

Millions of ostriches, who can afford to aren't stocking up.They just don't believe or choose to ignore whats happening around them....

Well, a lot REALLY do believe that mommy and daddy will fix it before anything bad happens. I'm not sure it is ostrich so much as actual ignorance and the mentality of toddlers. Only toddlers would want mommy and daddy in charge.

 

[abifae]

Worldwide recession 65-75% likely.
http://www.cnbc.com/id/44324334

Basic biology, people. Continued growth is unsustainable. You are shooting for stasis!

I don't like their phrasing, Auntie.

 

[MyKidLuvsGreenEgz]

Wow. I can't read this thread for a week and boy howdy did it explode.

I recently went through some old items I'd stored. Just happened to also have those old receipts, and also newer versions (talking about cocoa powder, salt, baking powder). I was surprised at not only the change in the prices but also the SIZE. Same with frozen berries, and even some canned goods. Bags of split peas and lentils ... oh my!

Just walking through a farmer's market last weekend shocked me. One farmer sold a cantaloupe for $3.00 and the next booth it was $.50. Why?

As far as shortages go ... just about everyone I've talked with is having a bad tomato year. Not being able to grow them, we look at the farmers markets, and not finding them there, the grocery store. Prices around here are ridiculous for tomatoes.

Glad we're doing more and more of our own food raising.

About the internet thing, I guess my life doesn't depend on having it, but since my hubby works for the phone company, it's part of his "concessions" (job perks) so it's not costing us any more to have it. My autistic son would have huge meltdowns if he couldn't look up his movie questions daily so I guess to him it IS a lifeline.

Hmmm.... hershey's chocolate.

Dagnabit!

 

[Wifezilla]

Having those receipt does show the true story. Especially helpful when people seem he'll bent on telling you it isn't happening.