Food Prices Likely to Keep Rising
Well, it seems like there are a lot of things at work in this economy that are unfortunately not working for us as consumers, but rather very much against us. While I hate to take on the doomsday tone since I think that the media’s doomsday attitude on the economy, housing market and credit crunch has only lended itself to a further roll in the turmoil around us, I have to admit that things just keep sounding worse.
At least that’s what the media would lead us to believe, so please keep an open mind that some of these forecasted happenings may not happen at all and may in fact be overblown by “newsmakers”.
Well, they are now saying that food prices for simple staples like cooking oil, bread, wheat and rice and things of that nature, but I’m also thinking a lot of the more expensive perishables like fruits and veggies may also continue to make their way up the pricing scale due to higher gas prices and more demand for the foods, especially in the developing countries, where this type of food is scarce to begin with.
Corn, wheat and other grains have doubled or more so since this time last year. I actually just got back from the grocery store and did notice a few higher than usual prices on items, but it’s a good thing I have my Giant Eagle Advantage card, because at least all of my food purchases are making their way to something useful, like fuel points which allow me to purchase gas at a discount (I think this is the best advantage of having a card, this is my favorite card for gas, since you just are buying things you already need and can get a generous discount per gallon on your gas just for making food purchases, whoever thought of this is a genius.)
What about those of us who are just scraping by to begin with though? I do wonder how they are making it when me, someone who has a steady income from their job as well as side incomes from other various projects, is noticing a bit of a painful increase in the overall cost of living. Things definitely need to be getting better. Heck, GE, the energy giant, just announced that their earnings for this quarter were lower than expected, and also warned that forecasts for the 2008 year may be lower, so everyone’s suffering.
