free webpage hit counter

Prices trim grocery lists | News, Sports, Jobs

Via Houghton Daily

Mining Gazette Staff

Houghton – According to a survey of 3,500 adults, ages 18 and older, to determine how many people have skipped meals altogether or cut portions of their meals because of unaffordable food prices, overall, 45% of adults will experience inflated, unaffordable food prices in 2022 (compared to a national average of 42%). Michigan said they ate less food as a result. This equates to 3,519,261 people across the Great Lakes state.

The CouponBirds survey was conducted in July, when Bloomberg.com predicted in a March 1 report that American shoppers might start. “Substituting for other proteins or reducing their overall use.” The ever-rising price of beef serves as just one example.

The USA Department of Agriculture’s (USDA) Economic Research Service released its Livestock, Dairy and Poultry Outlook Report on July 18, indicating that beef prices will continue to rise.

“Fed Cattle Prices Raised in Third Quarter of 2022 on Packer Demand but Unchanged in 2023” The USDA report said.

The report says that prices of feed ingredients have been relatively high for the last 2 years. Among these commodities, maize has seen the highest rise in price. In May 2021, no. 2 yellow corn market price in central Illinois more than doubled the 2016-2020 average corn price.

In May 2022, this price was about 130 percent higher than the 5-year average price. For high-protein soybean meal, the May 2021 market price was 28 percent above the 2016-2020 average, and in May 2022 it was 34 percent above the 5-year average price. For alfalfa hay, the May 2021 farm price was 11 percent above the 5-year average farm price, and in May 2022 it was 40 percent above the 5-year average. Feed is the highest input cost in livestock and poultry production and rising feed prices have affected producer incomes.

Inflation reached a 40-year high, leading to an overall 12% rise in grocery prices in the food-house sector compared to May last year, the survey said. From May 2021 to May 2022, this includes a 32.2% increase in the price of eggs; 14.2% increase in meat, poultry and fish; and 11.8% increase in dairy products. With the rising inflation rate and consumer prices rising the fastest since 1981, many people’s salaries have not kept pace with rising living costs. When it comes to emergency savings and ‘rainy day’ funds, many Americans find that a ‘rainy day’ is now rather than a future financial forecast, as households struggle to feed, stay afloat and secure financial uncertainty.

A March 1, 2022 Bloomberg report said average prices for US beef at grocery stores are at record highs.

For example, boneless sirloin steak was $10.83 a pound in the US in January 2022, a month in Bureau of Labor Statistics data going back to 1989.

On May 26, Bloomberg.com reported that retail whole chickens in the US cost $1.79 per pound in April, the highest price in a 15-year record and about 19% higher than their 10-year average.

Just over a month ago, Gro-intelligence.com reported on March 16 that across the US economy, prices of goods and services were rising at four times the US Federal Reserve’s 2% target, and that US food price inflation had risen to its highest level. level in a decade including poultry. An increase in the price of chickens has led to an outbreak of bird flu that began in February; strong producer margins; Higher food prices drive up poultry prices; higher feed prices due to drought in Brazil, Canada and the US and unprecedented demand from China; Beef and pork affect poultry prices.

Gro-intelligence.com concluded its March report:

“Rising feed prices and protein industry prices are fueling a steady increase in year-over-year poultry price changes. These forces, combined with the highest level of feed price inflation in a decade, mean that poultry prices will likely increase in the summer, despite a year of strong producer margins.”

According to cherrydigitalcontent.com, which published the Couponbirds survey, food price inflation is forcing residents to skip meals.

When comparing these statistics across states, West Virginia had the highest percentage (75%) of respondents who said they ate less because of unaffordable food costs (1,074,435 people compared to population data). Comparatively, this figure is lower in South Dakota and Wyoming (22% of respondents, respectively).

On July 18, 2022, Los Angeles’ ABB News, (newsabb.com) cited a Golden/TIPP poll published earlier that month that indicated more than one in five Americans are skipping meals to combat rising food prices. , roughly the same percentage are going to food banks to get their groceries.

Today’s breaking news and more in your inbox



Leave a Reply

Your email address will not be published.

Previous post Artist Christopher Santer paints a new section of the floodwall mural | News, Sport, Work
Next post Iridium Communications: A Great Company at a Great Price (NASDAQ:IRDM)