Food prices soar as incomes stand still

iVillage Member
Registered: 03-08-2011
Food prices soar as incomes stand still
7
Tue, 03-11-2014 - 4:37pm

Food prices soar as incomes stand still

 

By/Michelle Miller/CBS News/February 15, 2014, 8:02 PM

 

It's is not her imagination. While the government says prices are up 6.4 percent since 2011, chicken is up 18.4 percent, ground beef is up 16.8 percent and bacon has skyrocketed up 22.8 percent, making it a holiday when it's on sale.

 "Oh my god!" Singer said as she spied bacon for $3.

 

"The things that are going up in price are the things I absolutely need to buy," she said. "It's the meat, it's the milk, it's the eggs and it's getting out of hand."

Food inflation is far greater than the government thinks it is," he said.

 

But the big problem for families:  Wages are not budging.

 

http://www.cbsnews.com/news/food-prices-soar-as-incomes-stand-still/

iVillage Member
Registered: 01-23-2013
Wed, 03-12-2014 - 11:17am

The food industry is getting ready for when minimum wage goes up to $10 an hour. If they go ahead and raise prices now, then no one can blame it on the hike in minimum wage.

We're going to be seeing gas, electricity and rent go up as well over the next few months. Health care cost is already out of this world for most people (those of us who aren't rich).

The rich are going to keep their money one way or another. Don't be fooled into thinking that raising wages is really a solution to our problems.

iVillage Member
Registered: 01-16-2013
Wed, 03-12-2014 - 11:38am

I heard that the price of many items has risen sharply because of the drought out west. I don't really think it has anything to do with the possibility of a raise to the minimum wage. That is just the typical excuse people use to keep other people opressed with low wages.

iVillage Member
Registered: 10-17-2012
Wed, 03-12-2014 - 10:47pm

Of course businesses factor in wages when they price their goods.  Raising the minimum wage kills jobs and employment opportunities for young would-be workers.  And no one is "oppressed with low wages" except by ignorant liberals who want to create a perpetual class of people who are dependent on the government for sustenance.

iVillage Member
Registered: 04-11-2012
Thu, 03-13-2014 - 11:21am

Imagine how much more things are going to cost if the President is able to force companies to pay management and other professionals overtime.

iVillage Member
Registered: 03-03-2009
Mon, 03-17-2014 - 11:27am

To owaitress

Have you looked at who would be qualifying for overtime pay under Obama's proposed overhaul?  The actual facts seem sparse but my impression is that the federal guidelines qualifying figure for "salaried" has not been adjusted for inflation in years.  Kinda like the AMT.  

Given the deleterious effects of political maneuvering on actual governance, it is tempting to back Obama (even though he is probably attempting to strategically situate his party for future election gains).   But I am no more a fan of a unitary presidency under Obama than I was under Dumbya and Darth Cheney.   

Political science was my college major.  A dwindling/non-existent middle class is a recipe for eventual oligarchy, revolution, and anarchy.  Look at history, or better yet, Ukraine right now.  Do you really want to see a form of government in which power is invested in the uber rich and the less affluent must needs rely on their benevolence?   Believe me, it ain't a democracy, nor even a republic!

As for rising costs, let's be realistic.   That threat has ALWAYS been the response of skinflint employers who prefer to treat their human resources as disposable.  Nothing is free.   But I would far and away rather see prosperity spread over all workers rather than concentrated in the too deep pockets of corporate raiders (Carl Icahn can toast in hell) or overpaid CEOs who run their companies into the ground ala Ron Johnson.   And I say that as wife of a small business owner whose company has grown in large part because he see his employees as worth investment; who also knows there are families relying on his good judgment and experience to make decisions which benefit all--not just him. 

Jabberwocka

iVillage Member
Registered: 03-03-2009
Mon, 03-17-2014 - 11:34am
Eh? One would think that a living wage would DECREASE reliance on social welfare programs! One also wonders about those who use blanket characterizations and pejoratives like "ignorant".

Jabberwocka

iVillage Member
Registered: 03-03-2009
Mon, 03-17-2014 - 1:02pm
To catthee Beef prices are directly related to the cost of feed. And the drought did force cattle herd reduction in the West. http://www.bloomberg.com/news/2014-01-31/u-s-cattle-herd-shrinking-to-63-year-low-means-record-beef-cost.html. But what I see online indicates that corn prices are falling http://m.beefmagazine.com/blog/60-us-corn-harvested-things-are-looking-good. That's the largest component of feedlot feeding. http://agricultureproud.com/2012/10/09/ask-a-farmer-what-do-feedlot-cattle-eat/ And there appears to be a market for US ag products overseas so I assume that price pressures have trended upwards because of the increased demand. All that said, the middle class is shrinking. http://www.forbes.com/sites/joelkotkin/2014/02/16/the-u-s-middle-class-is-turning-proletarian. So when food prices trend higher, the impact on those at the lower end of the income scale is disproportionately greater.

Jabberwocka