Inflation is under control as long as you don’t eat anything.
Shoppers at Compton’s Foodland could not help but notice rising food prices following last summer’s drought. Corn goes into nearly everything we eat, and the corn crop withered in the baking sun last summer.
If you get on the ground in the towns across middle America, you can’t help but see it. News Channel 5 in Nashville notes some economists are predicting spikes of 15% to 20% this year,
“It’s going to hurt a lot,” shopper Jo Riggan told the news station. Click here to see the full report.
Besides corn, the other commodity that goes into producing just about everything we eat is gasoline.
Click here to read a report from the Associated Press on gasoline prices spiking 20 cents over the past two weeks.
One bright spot, however, is wheat. Favorable growing conditions have lead to an 8-month low in wheat prices. Click here to read about that.
Inflation, at least as it’s measured by economists, remains under control, but for how long? Or is this just someone’s idea about how to manage the nation’s obesity crisis?