Article:
Signs Of The
Last Times
If you've read any economic news lately, you've probably been treated to a host of stories touting a "strong" U.S. recovery, really low unemployment, and very little inflation. And, if you're like most working class Americans, you've probably read those stories while shaking your head in disbelief and wondering if the writers are talking about people in another country.
As to the government's line about inflation - namely, that there isn't much - well, one trip to the grocery store or the gas station or the clothing aisles, even at Walmart, will tell you different. Prices for food, clothing and energy have been rising steadily for years, and none of that has changed just because Barack Obama became president.
As reported by The Wall Street Journal in July 2014:
The consumer price of ground beef in May rose 10.4% from a year earlier while pork chop prices climbed 12.7%. The price of fresh fruit rose 7.3% and oranges 17.1%. But prices for cereals and bakery products were up just 0.1% and vegetable prices inched up only 0.5%. The U.S. Department of Agriculture predicts overall food prices will increase 2.5% to 3.5% this year after rising 1.4% in 2013, as measured by the Labor Department's consumer-price index. In a typical supermarket, shoppers are seeing higher prices around the store's periphery, in the produce section and at the meat counter.
Consumers are especially feeling the pinch over food prices. The Bureau of Labor Statistics' own data indicate that, as compiled by James Quinn of TheBurningPlatform.com:
- Beef and veal +22.5%
- Ground beef +21.0%
- Steaks +14.9%
- Pork +7.4%
- Ham +11.5%
- Whole Chicken +6.1%
- Fresh Fish +3.5%
- Eggs +8.2%
- Cheese +7.8%
- Fresh Vegetables +4.3%
- Lettuce +12.2%
- Tomatoes +9.6%
- Coffee +6.7%
- Butter +19.5%
- Restaurant food +3.1%
