[MedicalConspiracies] U.S. Food Inflation Spiraling Out of Control

http://inflation.us/foodinflationspiralingoutofcontrol.html

/April 22, 2010/

*U.S. Food Inflation Spiraling Out of Control*

The Bureau of Labor Statistics (BLS) today released their Producer Price
Index (PPI) report for March 2010 and the latest numbers are shocking.
Food prices for the month rose by 2.4%, its sixth consecutive monthly
increase and the largest jump in over 26 years. NIA believes that a
major breakout in food inflation could be imminent, similar to what is
currently being experienced in India.

Some of the startling food price increases on a year-over-year basis
include, fresh and dry vegetables up 56.1%, fresh fruits and melons up
28.8%, eggs for fresh use up 33.6%, pork up 19.1%, beef and veal up
10.7% and dairy products up 9.7%. On October 30th, 2009, NIA predicted
that inflation would appear next in food and agriculture, but we never
anticipated that it would spiral so far out of control this quickly.

The PPI foreshadows price increases that will later occur in the retail
sector. With U-6 unemployment rising last month to 16.9%, many retailers
are currently reluctant to pass along rising prices to consumers, but
they will soon be forced to do so if they want to avoid reporting huge
losses to shareholders.

Food stamp usage in the U.S. has now increased for 14 consecutive
months. There are now 39.4 million Americans on food stamps, up 22.4%
from one year ago. The U.S. government is now paying out more to
Americans in benefits than it collects in taxes. As food inflation
continues to surge, our country will soon have no choice but to cut back
on food stamps and other entitlement programs.

Most financial experts in the mainstream media are proclaiming that the
recession is over and inflation is not a problem in the U.S.
Unfortunately, they fail to realize that rising food and gasoline prices
accounted for 58% of February's year-over-year 3.85% rise in retail
sales. NIA believes price inflation is beginning to accelerate in many
areas of the economy besides food and energy, and all increases in U.S.
retail sales this year will be entirely due to inflation.

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