The Consumer Takes The Hit Again

Cereal, Sugar, Poultry Price Gains to Top Forecasts
-By Alan Bjerga on http://Bloomberg.com - June 19, 2008

NOTE: Below is only an excerpt, but you can read the whole article by clicking the link above.

"Retailers are passing along higher prices to consumers as global demand for food boosts U.S. exports, production is disrupted by harsh weather and more crops are used to make fuel, the USDA said. Corn, wheat, soybeans and rice have reached records this year, while beef, pork and chicken prices rallied.

While the department left its estimate of overall food-price inflation unchanged at 4.5 percent to 5.5 percent, the June revisions ``imply that we are in a higher part of the range now,'' USDA food economist Ephraim Leibtag said yesterday in an e-mail. ``Fuel, transportation and energy costs'' caused the most recent revisions, he said."

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As much as I hate to say this, this site is going to be easy to maintain. As the future moves forward, more and more articles like this is going to be in papers and the news on a daily basis. In addition, I believe they are going to find things out about ethanol that we are not even aware of yet. It may not be as impactful as say, asbestos, but all the same...