FAST FIVE: The Price Of Eggs Is Up 47% As Food Costs In The US Spiral Out Of Control
The remaining major grocery store food groups posted increases ranging from 9.3 percent (fruits and vegetables) to 14.9 percent (dairy and related products).” Those numbers are absolutely abysmal.
As I detailed a few days ago, a number of major problems have combined to create a “perfect storm” for global food production. The war in Ukraine, skyrocketing fertilizer prices and extremely bizarre weather patterns are just some of the reasons why global food supplies are getting tighter and tighter.
In the months ahead, I expect this trend to accelerate. It is being projected that heating costs are going to greatly accelerate all over the western world, and that is certainly not going to help matters.
For example, over in the UK it is being projected that absurdly high heating bills will push a significant proportion of the population into financial hardship this winter. The following comes from CNN- Nearly one third of households in the United Kingdom will face poverty this winter after paying energy bills that are set to soar again in January, campaigners say.
Our leaders told us that inflation would just be “transitory”, but that turned out to be totally false.