The United States Customs and Border Protection is asking Americans to stop trying to smuggle in raw eggs from Mexico.
Read MoreBorder Police Dealing with New Smuggling Problem: Eggs
Tag: food prices
Inflation Rose Slightly in November, Data Shows
Newly released federal inflation data shows that inflation rose slightly in November.
The Bureau of Economic Analysis released its Personal Consumption Expenditure Index Friday, a key inflation marker, which showed a 0.1% increase in November, contributing to a 5.5% increase from the same time last year.
Read MoreFood Prices Hit 40-Year High, Keep Breaking Records Every Month
Food prices have increased every month of 2022, with each month since February breaking 40-year records, according to data from the Bureau of Labor Statistics (BLS).
The price of food at home increased 13.5% year-over-year in August, the highest it’s been since May 1979, according to the BLS Consumer Price Index (CPI) report. Since February, when the year-over-year cost of food at home increased by 8.6% — at the time the highest level since 1981 — grocery prices have increased every month, first breaking a 10% year-on-year increase in March, according to archived CPI reports by the BLS.
Read MoreFeds: Food Prices Continued to Surge in July, but Overall Inflation Held Steady
Consumer prices remained high in July but showed only a slight increase from June, a pause from months of surging prices.
The Bureau of Economic Analysis Friday released the Personal Consumption Expenditure Index data, a key marker of inflation closely watched by the U.S. Federal Reserve when it makes its interest rate decisions.
Read MoreFood Prices Rise at Fastest Rate Since 1970s
Despite slowing inflation in July, food prices have continued to rise at historic levels, the U.S. Bureau of Labor Statistics reported Wednesday.
“The food index increased 10.9 percent over the last year, the largest 12-month increase since the period ending May 1979,” BLS said.
Some grocery store items have seen prices rise even faster, though.
Read MoreAs Food Prices Soar with No End in Sight, Americans Change Habits
Americans are changing their shopping habits because of soaring food prices. And disruptions in the international farming community have some worried about the food supply heading into 2023.
The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, shows that 42% of surveyed adults “are changing how they shop for groceries,” including “opting for cheaper items, avoiding brand names and buying only the essentials.”
The report found “46% are either dining out less or consciously spending less when dining out.”
Read MoreCommentary: Biden’s Handlers Are Preparing to Eject Him and Kamala
I sense a disturbance in the force. In fact, I’ve been feeling the tremors for a while. Back in January, I wrote a column for American Greatness called “The Coming Dethronement of Joe Biden.” In it, I noted that Biden’s appalling performance as president would sooner or later—and probably sooner, given the ostentatious nature of his multifaceted failure—lead to his removal as president.
I should have added that it wasn’t Biden’s performance per se that would lead to his downfall. The problem, rather, was the way his performance was undermining his—and therefore his minders’ and puppetmasters’—political power. As Saul Alinsky, community organizer to the stars, noted, the “issue is never the issue.” Accordingly, the people who put Joe Biden in power—I cannot name them, but I know they are the same people who keep him in power—do not care about inflation, rising gas and food prices, COVID lockdowns or mask mandates, the porousness of our Southern border, the threat of war with Russia, or the myriad other issues that worry ordinary voters. I am quite certain, in fact, that the word “voters” brings a vaguely contemptuous smile to their faces.
Read MoreOrange Juice Prices Expected to Soar After Worst Harvest Since 1945
Orange juice prices are expected to soar in 2022 after inclement weather and citrus disease constrained the supply of oranges in the U.S. while demand surged during the pandemic, CNN Business reported.
Frozen orange juice futures climbed over 50% during the COVID-19 pandemic and reached a two-year high in January, according to CNN Business.
Read MoreFarms Fail as Fertilizer Prices Soar
Soaring fertilizer prices across the globe have impacted farmers making it more expensive to produce food and forcing them to cut back on production, The Wall Street Journal reported.
Diammonium phosphate, or DAP, a common component of fertilizer, cost $745 per metric ton in December 2021, more than double its average 2020 price, the WSJ reported.
Higher fertilizer costs could translate into increased food prices in the next year, worsening global hunger after the pandemic caused massive job losses and further growing inflation, the WSJ reported.
Read MoreMore Americans Than Ever Say They Won’t Be Buying Christmas Gifts This Year
A record number of Americans say they won’t be purchasing gifts for the holidays this year amid ongoing inflation concerns and supply chain disruptions, a survey shows.
Roughly 11% of Americans said they expected to spend no money at all on gifts during the holiday season, according to a holiday retail survey by Deloitte. The number is the highest since Deloitte began its holiday retail survey in the 1980s and more than double the share of shoppers in 2020 who said they wouldn’t be buying presents.
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