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The Era of Cheap Doritos is Over
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Sunday, December 30, 2007
11:38:00 AM EST
Hearing Nothing
If you like to spend money on food -- I mean, really like to spend money on food -- then 2008 is shaping up to be your year:
The sharp rise in food prices seen in 2007 is expected to be followed by another higher-than-normal jump next year, the U.S. Department of Agriculture (USDA) said last week. And 2008's punch will be to the breadbasket.
Items made with wheat (breads and crackers) and soybean oil (cooking oil and fried foods) are expected to rise so much next year that they'll boost the cost of cooking at home by up to 4.5 percent — half a percentage point more than predicted just a month ago.
So pinched consumers thinking they can cut back by eating at home more will find little relief there. Home cooking remains less expensive than eating out, but the gap is closing.
The reasons? Well, one is that the drought in Australia is making wheat prices rise; another is all the farmers planting corn for ethanol rather than producing for food crops. Yes, it's more profitable to feed your car than you. But don't worry -- gas prices are expected to go up too. So that's fine.
Anyway, 2008 sounds like it's going to be a great year for that diet you've been planning to go on.
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11:38:00 AM EST
Hearing Nothing
The Era of Cheap Doritos is Over
If you like to spend money on food -- I mean, really like to spend money on food -- then 2008 is shaping up to be your year:
The sharp rise in food prices seen in 2007 is expected to be followed by another higher-than-normal jump next year, the U.S. Department of Agriculture (USDA) said last week. And 2008's punch will be to the breadbasket.
Items made with wheat (breads and crackers) and soybean oil (cooking oil and fried foods) are expected to rise so much next year that they'll boost the cost of cooking at home by up to 4.5 percent — half a percentage point more than predicted just a month ago.
So pinched consumers thinking they can cut back by eating at home more will find little relief there. Home cooking remains less expensive than eating out, but the gap is closing.
The reasons? Well, one is that the drought in Australia is making wheat prices rise; another is all the farmers planting corn for ethanol rather than producing for food crops. Yes, it's more profitable to feed your car than you. But don't worry -- gas prices are expected to go up too. So that's fine.
Anyway, 2008 sounds like it's going to be a great year for that diet you've been planning to go on.
Written by johnmscalzi Blog about this entry |
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This entry has 7 comments: (Add your own)
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Ok, so now I get a 3% raise...just gas & food raises means I'm not making any ground...actually losing! This is just crazy! Yet our lovely president seems to think the economy & American people are doing soooo well. What an idiot!
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It pays to grow your own veggies too. Maybe we should plant olive trees too, raise goats and live off the land....progress...Sandi
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Yep, the cost of living goes up....................
and the wages keep going down.......................... -
Here in the UK they keep telling us that food prices are the lowest they have ever been. Do they think we are stupid??? And don't get me started on the petrol and diesel prices or we'll be here all night.
Happy New Year
Carolxx
12/31/07 12:58 AM
Dorito's are aggressively nasty. Someone may call that cheese, but that someone wasn't raised in Mother Moreau's kitchen.