The Grocery Price Shock Is Coming to a Store Near You

Lovin Jesus

Well-Known Member
Bloomberg) -- Corn, wheat, soybeans, vegetable oils: A small handful of commodities form the backbone of much of the world’s diet and they’re dramatically more expensive, flashing alarm signals for global shopping budgets.

This week, the Bloomberg Agriculture Spot Index — which tracks key farm products — surged the most in almost nine years, driven by a rally in crop futures. With global food prices already at the highest since mid-2014, this latest jump is being closely watched because staple crops are a ubiquitous influence on grocery shelves — from bread and pizza dough to meat and even soda.

Soaring raw material prices have broad repercussions for households and businesses, and threaten a world economy trying to recover from the damage of the coronavirus pandemic. They help fuel food inflation, bringing more pain for families that are already grappling with financial pressure from the loss of jobs or incomes. For central banks, a spike in prices at a time of weak growth creates an unwelcome policy choice and could limit their ability to loosen policy.

“There seems to be sort of a bullish force behind the prices internationally,” Abdolreza Abbassian, senior economist at the United Nations’ Food and Agriculture Organization, said in an interview. “The indications are that there is very little reason to believe prices would remain at these levels. It’s more likely they will rise further. Hardship is still ahead.”

Emerging markets, in some cases already under pressure from weaker currencies, are particularly vulnerable because food costs make up a larger share of their spending. For the poorest and often politically unstable countries, the surge in raw materials threatens to further stoke global hunger.

“The relentless rise in prices acts as a misery multiplier, driving millions deeper into hunger and desperation,” Chris Nikoi, the World Food Programme’s regional director for West Africa, said earlier this month. It’s “pushing a basic meal beyond the reach of millions of poor families who were already struggling to get by.”

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https://www.msn.com/en-us/money/mar...ock-is-coming-to-a-store-near-you/ar-BB1fZDaC
 

Ghoti Ichthus

Pray so they do not serve alone. Ephesians 6:10-20
Scare tactics. Record harvests in some places, so something going in the supply chain (intentional or otherwise) and/or speculation/deliberate manipulation of the market.
Unfortunately, this will become self-fulfilling because fear is a potent weapon/manipulator :cry

Follow the money . . . always follow the money :mad
 
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Batman

Well-Known Member
Probably not much millions and millions of US consumers can do to stop the already and long term future price jumps, and many are so brainwashed or uncaring that a 16 oz box of cereal (or other item) that originally cost $3.29 is still the same price..........BUT, the total oz amount is now 12. This is just a fictitious example but it is everywhere and getting worse. Also, I don't have proof at our local Hyvee but I think they recent overhauled many aisles and relocated items to also help "hide" price changes. No matter, the higher or same price for same or less food contents is likely to hit non-food items too. I agree with many Youtube financial videos of recent that are saying the long term effects of the covid economic shutdowns could go 10 to 30 years into the future.
 

Tall Timbers

Imperfect but forgiven
I'm already in shock from the prices jumping big time ever since we had the high fuel prices some years ago now. Before then, prices would go up by pennies, or a small percentage anyway. Nowadays it's not unusual for prices to double or triple on an item in a short amount of time. Interesting, a lot of people don't even notice. I've long been curious about the differences between those that notice and those that don't.

With the govmint spending us deeper into debt by trillions I expected we'd see across the board inflation, but the food inflation seems to have some extra reasons behind it... It seems that the govmint response to COVID that shut things down around the world will have negative repercussions that will probably continue all the way into Tribulation.
 

Andy C

Well-Known Member
I'm already in shock from the prices jumping big time ever since we had the high fuel prices some years ago now. Before then, prices would go up by pennies, or a small percentage anyway. Nowadays it's not unusual for prices to double or triple on an item in a short amount of time. Interesting, a lot of people don't even notice. I've long been curious about the differences between those that notice and those that don't.
Sadly, or happily, depends on your perspective, Im one of those who dont notice. My wife looks at every price when she shops and will easily spot an increase. However, when I shop, I grab and go and enjoy remaining oblivious to the cost. I think Im this way because for my first 20 years in the Marines, money was always tight, and looking at prices as I shopped would add stress. Now, its stress free, get what I need/want, plus Connie pays the bills not me....:biggrin2
 

Tall Timbers

Imperfect but forgiven
Sadly, or happily, depends on your perspective, Im one of those who dont notice. My wife looks at every price when she shops and will easily spot an increase. However, when I shop, I grab and go and enjoy remaining oblivious to the cost. I think Im this way because for my first 20 years in the Marines, money was always tight, and looking at prices as I shopped would add stress. Now, its stress free, get what I need/want, plus Connie pays the bills not me....:biggrin2

I think you're in the majority.
 

Andiamo

"Let's go!"
We have a small backyard garden. Greens, beans, squash, tomatoes, cucumbers, lettuce, peppers, potatoes. Basil. A carrot or two, a couple of beets, an orange tree. We aren't the greatest at it, but it produces enough to supplement our purchased food. Even this small harvest does knock a dent in it. It cost some money to set up, but it's good to know we have something there, just in case. And it's all organic.

God was there for people during the Great Depression, and He will be there for us.
 

alisani

Well-Known Member
I've noticed it. I've had to pinch pennies for most of my life and have made something of a game out of coming under budget on controlled costs.

Thankfully, we have some means of providing for ourselves. And even more thankfully, we have been blessed by God's protection and provision for all of our lives. Lean times have been blessed times because our faith has been strengthened by watching God continuously "show up and show out" on our behalf.
 

Misty S

Well-Known Member
I've seen some folks here getting tetchy too. And they take it out on cashiers, etc. because those are the visible targets. Thankfully, no one is looking to weaponize the canned corn just yet.
Yes. I am on the front lines of this issue. The stuff that customers try to do with my employees is a bit intense. They try to harass and embarrass them and the employee eats it and smiles. Then you have to balance defending employees with customer loyality. It is like a wild west saloon.
 

alisani

Well-Known Member
Yes. I am on the front lines of this issue. The stuff that customers try to do with my employees is a bit intense. They try to harass and embarrass them and the employee eats it and smiles. Then you have to balance defending employees with customer loyality. It is like a wild west saloon.
Customer service is something of a lost art and a thankless job these days. The external pressures are mounting and the godless, without resource to hope and peace, are feeling the heat, no matter how much they remain oblivious to the cause.

Will pray for the store and the employees, along with your customers. Who better to ask than Almighty God to work from every possible angle to provide help to the store, yourself and community. You already have my prayers. As wife, mother, child of God, etc. You need support systems, yeah?
 

Misty S

Well-Known Member
Customer service is something of a lost art and a thankless job these days. The external pressures are mounting and the godless, without resource to hope and peace, are feeling the heat, no matter how much they remain oblivious to the cause.

Will pray for the store and the employees, along with your customers. Who better to ask than Almighty God to work from every possible angle to provide help to the store, yourself and community. You already have my prayers. As wife, mother, child of God, etc. You need support systems, yeah?
Yeah and amen. Right now we have an angsty young girl spreading rumors on male employees. Rotten to the core. Thanks for your prayers.
 

alisani

Well-Known Member
Yeah and amen. Right now we have an angsty young girl spreading rumors on male employees. Rotten to the core. Thanks for your prayers.
People who maintain their faith while working in the public sector are some bad mamba jambas in a spiritual sense! To deal with the general public, keep your cool and still love and pray? You got not only my prayers but my respect sister.
 

Everlasting Life

Through Faith in Jesus
Yes. I am on the front lines of this issue. The stuff that customers try to do with my employees is a bit intense. They try to harass and embarrass them and the employee eats it and smiles. Then you have to balance defending employees with customer loyality. It is like a wild west saloon.

The store I shop at had a couple of employees who just couldn't take it at the cash register because during the pandemic they were terribly harassed to pressure customers to do this or that of which it was thought was important to do. Customers were scared, angry, cranky, etc. and took it out on the poor staff. :ohno

Those customers that make it a point to be extra courteous and pleasant do stand out and I hear do make a real difference. I notice that utilizing humor where one can with the staff and customers alike seems to bring the tensions down and also reverberates to others. :nod
 

Misty S

Well-Known Member
The store I shop at had a couple of employees who just couldn't take it at the cash register because during the pandemic they were terribly harassed to pressure customers to do this or that of which it was thought was important to do. Customers were scared, angry, cranky, etc. and took it out on the poor staff. :ohno

Those customers that make it a point to be extra courteous and pleasant do stand out and I hear do make a real difference. I notice that utilizing humor where one can with the staff and customers alike seems to bring the tensions down and also reverberates to others. :nod
This is all very true. Since the covid pandemic, we have had to deal with increased theft, swindlers, bad customers, bad employees, amd so on at an exponential rate.

People will come in and look at the price and ask over and over if that is the price and we are priced competitive. Argue with coupons. Try to smack employees and other people. This is customer service drama x300 made worse by the pandemic.

I absolutely value pleasant customers and make sure my employees value them same. Humor really helps.
 

Everlasting Life

Through Faith in Jesus
Scare tactics. Record harvests in some places, so something going in the supply chain (intentional or otherwise) and/or speculation/deliberate manipulation of the market.
Unfortunately, this will become self-fulfilling because fear is a potent weapon/manipulator :cry

Follow the money . . . always follow the money :mad

Hey there Ghoti :wave , may I ask where the record harvest are happening? Any links by any chance? This is just out of curiosity and also to share info with someone. :)

Yes, I do believe that broadcasting the next 'major problem' can actually create problems as people panic, overbuy and then create the problem in some cases.

http://www.fao.org/faostat/en/#compare

Interestingly it looks like according to the food and agriculture organization of the US shows a steady if not record breaking wheat yields. I was only able to get to 2019 though. So, yeah, looking at the graph, the yields over the years have really shot up! :nod

But, there is also a drought that's being reported for some of those wheat yielding places.....we'll see what happens.
 
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