The latest report from the Consumer Price Index, the rate of increase in grocery prices saw a slowdown in August compared to July. The real question is: what food items got more expensive and what became more affordable?
canada. two from mexico, three from new zealand, four australia, five brazil. and tomi, some perspective on the sky high meat prices we are talking about here, put them on the screen, year over year change. veal cutlets, up 45%. bacon prices we talk about, up 30%. skirt steak, ground beef, a lot of talk about the major meat companies. cargill, tyson foods, j.b.s., national beef packing companies and how much they really control the market. it varies between 50 and 85%, tomi. so, what is the white house need to hear to get these prices lower because this is something the average american family is grappling with. you hear everybody talking about it when they go to the grocery store these days. there are antitrust laws on
the price of gasoline last year, $3.30 today, $2.33 a year ago. a year ago $41,000 was the price of an average vehicle sold in 2020, today it s $47,000. everybody going to the grocery store knows food prices are up. fish and seafood at a ten-year high, bacon prices up near 90%. restaurants, those prices are up by 6.6%. that is an all-time record. this is largely covid related, we have bottlenecks and strong demand after the economy reopened, but that doesn t make it any less painful, especially for low-income families and those lifving on a fixed budget. the federal reserve is promising to get inflation under control. the question is how long that