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this post was submitted on 09 Sep 2023
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The trouble with your comment is that the price in the grocery store is just following the rise we saw at the farm gate over the last couple of years, driven by that crop-destroying derecho, Euro fertilizer plant shutdown, and Ukraine conflict. As food is mostly sold on futures contracts, it's only delayed, as expected.
The farm gate price has moderated this year. The grocery store price will come back down when newer contracts start coming into force. Same as in 2013, and every other time this kind of thing has happened. Short memories be short, I guess.
You might be right, and prices may come down. I am ignorant on goes on with pricing, but what I do see is the farmers are not thriving, and fresh food is always getting more expensive.
Yet Loblaws is able to post amazing profits, and they are the lower priced stores, the more independent stores are struggling to compete and they have to mark up their prices even more.
So my opinion is that farmers and smaller stores are struggling, but middlemen are thriving. This is based on those observations. My lack of trust in corporate models is based on profits over people.
I agree, Putin is disturbing the supply chains for food. But then I wouldn't think that all food would be affected as it is.
Food prices rise 1.2% in 2013, a low increase to be sure, and below projections (1.5-3.5%) but not a decrease. Overall CPI went up 0.9% for context.
We just got finished covering how the consumer price lags the production issues, and then you go look up consumer prices for the same year as the production issues? Short memories be short, I guess.
I apologized, I misinterpreted your comment to mean prices in 2013 fell, not supply issues in 2013 cause food inflation caused spikes/drops later.
Ignoring the COVID years, food inflation was pretty stable at 1-3% from 2010 on. That is a north american figure, so there can obviously be regional differences.