Prices Americans paid for eggs, meat, cereal and milk shot higher in April as people flocked to grocery stores to stock up on food amid government lockdowns designed to slow the spread of Covid-19. The Labor Department reported Tuesday that prices U.S. consumers paid for groceries jumped 2.6% in April, the largest one-month pop since February 1974. The spike in supermarket prices was broad based and impacted items from broccoli and ham to oatmeal and tuna. The price of the meats, poultry, fish and eggs category rose 4.3%, fruits and vegetables climbed 1.5%, cereals and bakery products advanced 2.9%, and dairy goods gained 1.5%. The grocery numbers stand in stark contrast to the broader trend in U.S. prices, which fell 0.8% in April and clinched their largest one-month decline since 2008 as a swoon in oil and gasoline dragged the headline CPI number lower. “Food price gains were robust as we know there are empty shelves out there,” Peter Boockvar, chief investment officer at Bleakley Advisory Group, wrote in an email. “Demand we know in most areas of the economy has collapsed and prices are falling in response.” Excluding the volatile food and energy components, so-called core CPI dropped 0.4%, its largest slump ever through records kept since 1957. “In areas where demand has hung in, like ‘food at home’ we have inflation because the supply side has been damaged, whether directly via infected facilities or because of the higher costs of finding freight capacity,” Boockvar added.
Yes, a global pandemic that interrupts the supply chain so that food prices skyrocket - this is all Trump's doing. What a yambag you are, AK Forty Seven.
Tony baloney, what are you winning at? Do you like it that some poor people can't even afford to buy food or what? I don't get it.
I've noticed grocery costs the last few years. Used to be a couple of bags of groceries at Bristol Farms or Market of Choice was $90-ish. Now two bags of groceries from the fucking Safeway is $90-ish. I no longer trust the government to accurately report inflation. Three things I hope to see in Trump's second term: 1) Forcing the govt to accurately tally and report on inflation 2) Forcing the Fed to raise rates when appropriate 3) Defunding the leftist media outlet known as NPR
He is making people aware of all the lies and mismanagement for personal gain , and to vote them out in November. Children are ‘starving’: Coal miner rips company for taking coronavirus aid — and not paying workers The American Resources Corporation is receiving harsh criticism for taking millions in coronavirus aid but failing to obey court orders to pay workers. “Coal company American Resources Corporation, which owns mines in Kentucky and West Virginia, is facing sanctions after failing to comply with a bankruptcy court’s orders, even after the company received $2.7 million in government aid meant for companies harmed by the coronavirus pandemic,” Ohio Valley Resource reported Monday. “Indiana-based ARC purchased coal mines and equipment from bankrupt coal company Cambrian for $1 last September. The purchase came with a heavy debt burden that included environmental reclamation obligations, employee wages and health care costs, and utility bills,” the report noted. “Almost immediately, ARC failed to pay those expenses, leading Eastern Kentucky federal bankruptcy court Chief Judge Gregory Schaaf to impose monetary sanctions against the company. Lack of payment to employees at ARC subsidiary Quest Energy led some employees to protest this January by blocking a Pike County, Kentucky railroad.” The publication interviewed one miner under the condition of confidentiality. “It’s hard to go to work between two rocks and not get paid for it,” the Quest miner said. “There’s men that’s getting their power bills cut off and men’s children starving.”