Wholesale prices soar in March

[PatriotG]

It should be clear that Wall Street has gone insane and that the American people are hoping beyond hope that reality is not going to set in. Why else would the market be up after this report?

Wholesale prices soar in March

 

[dsentell]

With wholesale prices up, of course retail is up as well.

Farm Bureau reported Retail food prices at the supermarket increased in the first quarter of 2008, up about 8 percent from the fourth quarter of 2007.

For anyone who does not get it, we are on pace for a 32% increase in food prices by the end of the year . . . .

http://www.fb.org/index.php?fuseaction=newsroom.newsfocus&year=2008&file=nr0327.html

 

[HOLLYWOOD]

It should be clear that Wall Street has gone insane and that the American people are hoping beyond hope that reality is not going to set in. Why else would the market be up after this report?

Wholesale prices soar in March

In that same article... I find it VERY DIFFICULT to believe thier measurements:

"For the past 12 months, wholesale prices are up by 6.9 percent and core inflation is up by 2.7 percent, the biggest year-over-year increase in nearly two years. For March, energy prices jumped 2.9 percent, the biggest increase since November. The price of gasoline was up 1.3 percent while natural gas rose by 4.2 percent."

Whose smoking CRACK preparing this report? Price up only 6.9% in the past year, gas up onlY 1.3% in the month of MARCH? Has anyone bought; GAS, MILK, EGGS, MEAT, Vegetables, cheese, etc?

Just about everything I monitor has increased double digits, except homes. Fuel price in the month of March alone had to be up 10-12%, what load of crap on these stats!

 

[Zippyjuan]

They are looking at wholesale- not retail- price changes. This is the prices that places like your local grocery store are paying to get the items- not what you are charged.

For anyone who does not get it, we are on pace for a 32% increase in food prices by the end of the year . . . .

What are you basing the 32% figure on?

 

[dsentell]

They are looking at wholesale- not retail- price changes. This is the prices that places like your local grocery store are paying to get the items- not what you are charged.


What are you basing the 32% figure on?

Farm Bureau report saying retail food prices were up 8% in the first quarter -- at this pace, it would be 32% by the end of the year . . . . .

*** By the way, sorry if I confused the thread. I know PatriotG was speaking wholesale, but I wanted to throw in this retail article as well. . . . ***

 

[Zippyjuan]

Was that up 8% during the quarter or up 8% from the same quarter the year before (an already annualized rate)?
If it was 8% for the quarter, then what cost $100 at the end of the quarter would cost $108 now.
Second quarter- what was $108 now costs 108x 1.08 or $117.
Third quarter- 117x 1.80= $126
Fourth quarter- 126x 1.08 = $136.

I think they were figuring an annual rate of eight percent.

Compared to the first quarter of 2007,

 

[dsentell]

"WASHINGTON, D.C., March 27, 2008 – Retail food prices at the supermarket increased in the first quarter of 2008, according to the latest American Farm Bureau Federation Marketbasket Survey. The informal survey shows the total cost of 16 basic grocery items in the first quarter of 2008 was $45.03, up about 8 percent or $3.42 from the fourth quarter of 2007."

Good question. The way I read it, it was up 8% beginning Jan 1 2008 through March 2008 . . .

http://www.fb.org/index.php?fuseaction=newsroom.newsfocus&year=2008&file=nr0327.html

 

[davver]

In that same article... I find it VERY DIFFICULT to believe thier measurements:

"For the past 12 months, wholesale prices are up by 6.9 percent and core inflation is up by 2.7 percent, the biggest year-over-year increase in nearly two years. For March, energy prices jumped 2.9 percent, the biggest increase since November. The price of gasoline was up 1.3 percent while natural gas rose by 4.2 percent."

Whose smoking CRACK preparing this report? Price up only 6.9% in the past year, gas up onlY 1.3% in the month of MARCH? Has anyone bought; GAS, MILK, EGGS, MEAT, Vegetables, cheese, etc?

Just about everything I monitor has increased double digits, except homes. Fuel price in the month of March alone had to be up 10-12%, what load of crap on these stats!

That may be a monthly increase, so annualize it.

 

[Banana]

This seems to tie in reports I've got from local delis-

One bagelry had to post a notice of price change because the price of flour went up by $11, effective immediately with any advance notice. In last year, it increased by $4, and $3 before that.