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01-22-2011, 10:50 AM #1
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Agflation Goes Retail: price explosion on global commodity
Agflation Goes Retail
Mac Slavo - January 21st, 2011
Comments 33
We’ve been writing about it for several months (years, actually, but who’s counting) and now it’s finally starting to show up on the consumer side of things.
Up until last month or so, the price explosion on global commodity markets wasn’t being felt by retail buyers of food stuffs, but that is about to change - in fact, it’s changing right now.
Remember this chart, which we published a few months back in The Real Rate of Inflation? http://www.shtfplan.com/emergency-prepa ... f_10272010
In April of 2010 we wrote about some seemingly minor blips in month over month food inflation, suggesting that we could potentially see a rise in food costs of about 25% within a year. http://www.shtfplan.com/headline-news/f ... h_04222010
Zero Hedge points out that those food cost increases are now here: http://www.zerohedge.com/article/food-i ... food-produ
[b][i]After denying for months that surging food prices will eventually come to the consumer, hoping that instead food companies could absorb the margin drop, sellside research is finally capitulating to the reality of what is really happening in the retail store. In a note discussing General Mills, Goldman Sachs says the company raised prices on snack bars some 7% last week. Goldman further clarifies that “this reportedly followed a comparable increase taken by K on its snack bars in mid-December. In addition, KFT has reportedly announced a 6% increase on select Planters branded nut products. We expect more price increases to be announced by the food companies in the coming weeks.â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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