Via CNSNEWS.COM –
The average price of a pound of ground beef climbed to another record high in February, hitting $4.238 per pound, according to data released today by the Bureau of Labor Statistics (BLS).
In August 2014, the average price for a pound of all types of ground beef topped $4 for the first time, hitting $4.013, according to the BLS.
In September, the average price jumped to $4.096 per pound; in October, the average price climbed to $4.154 per pound; and in November, the average price climbed to $4.201 per pound.
In December, the price declined slightly to $4.156 per pound. In January 2015, ground beef hit $4.235 per pound and in February 2015, according to the latest data from the BLS, the price of ground beef hit the highest level ever recorded of $4.238.
A year ago, in February 2014, the average price for a pound of ground beef was $3.555 per pound. Since then, the average price has increased 19.2 percent in one year.
Five years ago, in February 2010, the average price of a pound of ground beef was $2.277, according to the BLS. The price has since climbed by $1.961 per pound, or an increase of 86.1 percent.
Read the rest here.
Inflation is not just prices going up, but also the size of a product shrinking while staying the same price as before. Clark Howard who is a consumer watchdog on many levels in trying to save you money put out this alert for consumers:
When I talked about this a couple of years ago, there were a few companies reducing the size of packages by doing tricks like making the tubes fatter and putting less paper on the roll.
Now The Dallas Morning News reports the average square of toilet tissue has been reduced by 26%. So you’ve got 26% less paper in that square when you’re doing your business.
I was at Costco the other day and I wanted to see if this downgrade was universal. Turns out it is. It seems everybody has reduced their sheets to a 4.5 x 4 inch rectangle — down from a perfect 4.5 inch square just a few years ago.
Univeristy of Notre Dame is raising their tuition again. Get ready to pay according to the Indianapolis Star:
The University of Notre Dame is raising undergraduate tuition by 3.7 percent to $47,929 next school year.
The university says with average room and board rates of $13,846, the annual cost of attending Notre Dame will be $61,775.
The school said the 3.7 percentage increase in tuition and fees is the lowest at Notre Dame since there was no increase in 1960. Tuition had increased 3.8 percent for three straight years.
For the “there is no inflation” crowd, in just the last four years tuition has now increased 15.1%.
According to the Daily Northeast Broiler/Fryer Report by the U.S. Department of Agriculture’s Agriculture Marketing Service the price for retailers purchasing chicken wings to sell at their business has jumped by 35% compared to last year. This was reported in PRNewswire:
The average price (wholesale, not retail) of whole wings is currently $1.71/lb, up from $1.35/lb at the same time last year.
This is not the highest ever seen:
This is down significantly from when wing prices hit a record high of $2.11/lb in January, 2013.
My niche in my blog posts is inflation tracking. I do it because of how I position my investments and watching the unethical approach by MSM in not tracking it. Inflation hurts a lot of people and sucks money out of the economy that can be used for savings or other purchases. This update of increases comes from the Wall Street Journal:
Food prices rose 0.3% in December and 3.4% from a year earlier, the largest 12-month increase since February 2012, the Labor Department said Friday.
You can read the rest here.
Back in July I wrote about beer going up on sale and regular prices. Now the complete increase has taken affect. I took this photo today at the same Meijer’s I always shop at:
Case of beer is now hitting almost $20 warm. For many months the sale price ran $16.50.
Janet Yellen has her foot on the printing presses from most recent money supply data and consumers are spending more. Watch for more price increases over the next few months.