NIA Projects Future U.S. Food Price Increases,$23.05 for a 24 oz loaf of wheat bread

goingbroke

NIA 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. NIA also projects that by the end of this decade, a plain white men's cotton t-shirt at Wal-Mart will cost $55.57.

DesertDweller

Dumb question, who is the NIA?

goingbroke

<< <i>Dumb question, who is the NIA? >>

NIA The National Inflation Association - http://inflation.us - today announced the release of its report about NIA's projections of future U.S. food price increases due to the massive monetary inflation being created by the Federal Reserve's $600 billion quantitative easing. This report was written by NIA's President Gerard Adams, who believes food inflation will take over in 2011 as America's greatest crisis. The report highlights how despite cotton rising by 54%, corn rising by 29%, soybeans rising by 22%, orange juice rising by 17%, and sugar rising by 51% during the months of September and October alone, these huge commodity price increases have yet to make their way into America's grocery stores because corporations have been reluctant to pass these price increases along to the consumer

Baley

Gosh!

How much will a person earn for an hour of skilled labor? Unskilled labor? Specialized, highly skilled labor?

57loaded

this "printed" $$$ has not hit the US consumer

could you imagine 900 trillion QE II and QE I divided amongst the USA thats about 40k per now what would that do to a loaf a bread? (I agree) correct my math it's very rough 900 t / 230 mill some i can't count

what did they say about the price of gold or silver? it would seem to be 10x what it is for the these figures.

Leonidas

What about a 6 pack of Bud ?

OPA

Trade off for $5,000 oz Gold & $100 oz Silver.......I prefer the status quo.....

roadrunner

Trade off for $5,000 oz Gold & $100 oz Silver.......I prefer the status quo.....

At the crazy numbers the NIA lists, we'd be looking at silver and gold 10-20X higher than today: $14,000 and $270 for starters. Double or triple that to be safe.

roadrunner

OPA

<< <i>Trade off for $5,000 oz Gold & $100 oz Silver.......I prefer the status quo.....

At the crazy numbers the NIA lists, we'd be looking at silver and gold 10-20X higher than today: $14,000 and $270 for starters. Double or triple that to be safe.

roadrunner >>



Mama mia....That's not encouraging ...

secondrepublic

And yet the banks are still giving out mortgages for 30 years at around 4% fixed. Hmmm....

MMR

Wait until 2012 when grocery stores need to issue a 1099 every time you buy a shopping cat full of groceries! Let's see how that works out for them!

edmundfitzgerald

I believe the 1099 will good bye-bye now that the pubs have the house.

unknowncomic

"The report highlights how despite cotton rising by 54%, corn rising by 29%, soybeans rising by 22%, orange juice rising by 17%, and sugar rising by 51% during the months of September and October alone, these huge commodity price increases have yet to make their way into America's grocery stores because corporations have been reluctant to pass these price increases along to the consumer "

You might not have seen much increase in grocery stores yet but go to your local feed store and price grain there.

OUr local feed store has had 2 price increases in the last 5 weeks. A bag of grain that cost $16.00 in early October went to $17.00 in mid October and then yesterday went to $18.50.
Just wait till it hits the market and a box of corn flakes cost you $15.00
I said 2 years ago that "You aint seen nothin yet boy and girls."

Higashiyama

Keep in mind that at current prices, the commodity value of corn in a big box of corn flakes is perhaps 10 cents. That's the main reason it takes a long time for commodity prices to filter into retail prices.

In any case, the NIA methodology is rather odd - "grossing up" previous high prices might give a sense of possible inflation, but it is not a valid method of projecting from the $ 600 billion cash infusion.

Bear

What this will mean, is that people will do without sugar, coffee, corn, limited course bread, soy milk

and all other nice to have items. There will be no eating out, no movies or new cloths

no new cars, no butter or meat, as we slowly sink back into the worst of the19th century.


Of course nothing is ever as bad as we might fear nor as good as we may hope. The truth,

lies somewhere in the middle and that will be bad enough all by itself.

Remember , it takes 7 ponds of grain to grow one pound of beef. Meat is a very inefficient use of grain.

As for fish, their will not be enough fish, to feed a hungry world. I am kinda glad I am just a fuzzy bear,

I can eat berries and pine nuts, maybe a bit of tasty wild wheat and other grasses.