Food costs will increase 4% in 2011, USDA says in raising its projection

[OhioChick]

Source: LA Times

February 24, 2011, 2:25 p.m

The agency just last month had forecast an increase of 2% to 3%, then the prices for farm goods jumped.

Food costs will rise as much as 4% this year, more than the 2% to 3% estimated last month, after a surge in prices for farm goods, the U.S. Department of Agriculture said Thursday.

Forecasts were raised for meat, eggs, cooking oils, fruits and vegetables, sweets and cereals and baked goods as food inflation accelerated at the fastest pace since reaching a 28-year high in 2008, the USDA said in a report. Higher costs for corn, the primary feed for pigs and chickens, may boost pork prices as much as 6.5% and eggs 4.5%.

"Higher prices for crops and livestock will again pressure food prices," as increased commodity costs work their way through the food-supply chain toward consumers, chief economist Joe Glauber said.

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Read more: http://www.latimes.com/business/la-fi-food-prices-20110224,0,4984077.story

[msongs]

1. quit buying heavily processed foods, eat better and save tons of $$ nt

[napi21]

2. WOW, am I glad they couldn't see fit to grant us seniors on

ONLY SS that $250 Obama wanted to give us! What the hell! I never buy prepared foods, always cook from scratch, grow tomatoes, zucchini, yellow squash, peppers,lettuce & onions when the climate permits, and always eat all our left overs. I don't buy steak or any epensive cuts of meat, and have even cut down the amunt of meat/fish per peson. I don't believe I can CUT 4% out of my food budget! maybe I'll write to mr. Boner & ask him for his suggestion.

[Lugnut]

14. I don't know where I would cut back on food either.

I don't buy prepared foods either. We grow some veggies in a small raised planting bed during planting season which is very short here. I make pickles from our cukes and roast and freeze all the tomatoes we don't eat fresh out of the garden. We have the benefit of living in a farming area so the local farmer's market provides provides selections I can't grow because of the small size of our planting bed. I can't tell you last time I made steak but pork prices have been good so we eat quite a bit of that. Fish is a treat we enjoy on rare occasion. It's just too expensive.

Mr Boner doesn't give a hoot about people like us. As much as I would love to write just to tear him a new one I'm better off spitting in the wind.

[defendandprotect]

3. .. but there's been no inflation to concern ourselves with -- !!!

[annabanana]

4. And yet it has no effect on the "cost of living". . . .

astounding

[ixion]

5. wheeeeeee!

:nuke:

[prolesunited]

6. Time to add another Chinese row to the veggie garden

So glad I have a yard. I also line dry my laundry. It's amazing how much money both activities save.

[Knight Hawk]

10. I have A

garden started also.Think I will increase it .Have been off all meat for a while.May add to garden.Turned off the AC last year,in central Fl. saved a bundle.Have cut my driving down at least 30%.

[prolesunited]

15. I've been a vegetarian since 2003

and have been combining coupons with sales to save about 40% on groceries. It took awhile but I have a nice pantry set up in the basement so I only shop loss leaders and skip weeks if I have to. It's amazing what you can do to survive. If only I could increase my earnings while living this lifestyle, I would have my house paid off and a huge nest egg in no time flat.

[DeadEyeDyck]

7. fast 2 days a week

[Psephos]

8. More like 4% in March. n/t

[glinda]

13. Precisely. Food rose steadily each month for the last six months already.

[customerserviceguy]

9. We'll be lucky if it's only 4%

With the costs of fuel rising, we may see double-digit food inflation before this year is up, when measured on a monthly basis.

[marasinghe]

11. yea; govt. makes up its own shit - nothing to do with our reality.

New York Daily News story:
ny daily news: tsunami

article states that -
global wheat prices doubled .... from june 2010 to january 2011
corn & sugar prices rose 73%
cotton futures up 44%, just from jan-2011
public transport - bus, subway - up 17% from 2010
gasoline up 19% in a year

there's a brutal storm heading our way.

[Hugabear]

12. And wages continue to stagnate or decline...

We're fucked