The latest inflation data from the Department of Labor reveals that, officially, produce prices are up 15.7 percent for the month. For the year, fresh and dried vegetables are up 40.2 percent.
Overall, the producer price index increased by 0.4 percent compared to the month prior – a figure twice what economists anticipated. A recent and sharp uptick in food prices largely caused this, we are told.
Compared to August, consumer food prices rose a seasonally adjusted 1.1 percent. Compared to a year ago, consumer food prices have officially increased by 12.1 percent. (Related: Food banks are seeing lots of newbies who are suddenly finding themselves in poverty due to the crisis.)
Everyone except for ultra-rich being priced out of subsistence (and existence!)
The second-most inflated food category following fresh and dried vegetables for the month of September is grains, which are up 10.7 percent for the month and 30.4 percent for the year.
This is followed by fresh eggs in third place with price increases averaging 16.7 percent for the month and 14.0 percent for the year.
Here are the rest:
- Bakery products: up 0.8 percent for the month and 14.0 percent for the year
- Pasta: up 1.1 percent for the month and 34.1 percent for the year
- Finfish and shellfish: up 2.5 percent for the month and 2.9 percent for the year
- Processed fruits and vegetables: up 2.6 percent for the month and 16.0 percent for the year
- Dairy products: down 1.6 percent for the month but up 18.2 percent for the year
- Soft drinks: up 1.9 percent for the month but up 15.8 percent for the year
- Pork: up 5.5 percent for the month but down 2.0 percent for the year
- Fresh fruits and melons: down 1.2 percent for the month but up 20.7 percent for the year
- Turkey: up 0.5 percent for the month and 38.2 percent for the year
Similar to the Consumer Price Index (CPI), the Producer Price Index (PPI) tracks inflation from the perspective of what domestic United States businesses receive for the things they produce. The CPI, on the other hand, tracks what households pay for goods and services.
“By definition, the PPI’s exclude prices paid for imports as those are not received by domestic producers,” one report explains.
“The food PPIs tend to lead CPIs, according to researchers at the Department of Agriculture. So today’s report suggests food prices measured by CPI are likely to continue to rise.”
A few food categories actually saw price decreases in September, including beef and veal, which are down 23.0 percent. Fresh chicken prices similarly decreased by 3.7 percent but still remain 4.6 percent higher than they were a year ago.
Shortening and cooking oils also fell in price in September by 1.9 percent but are still up 12.4 percent for the year.
“They are trying to starve you,” wrote someone in the comments on a story about the new PPI data. “They are trying to destroy your way of life. There IS abundance on the planet, only YOU are not allowed to use any of it.”
“My church has always provided a food pantry for the needy but we are empty – we can’t keep up,” wrote another.
“The globalists are trying to destroy the middle class,” said someone else. “Fleecing my countrymen intentionally to enslave them forever. Resist.”
Others pointed out that while this is all happening under Joe Biden, it goes far beyond just him. Donald Trump printed a record amount of new fiat dollars during his reign while many presidents before him, both on the left and on the right, did much the same.
The latest news about inflation and the pricing out of the poor and middle classes from society can be found at Inflation.news
Sources for this article include: