Everett Griner talks about Economic rise led by food cost in today’s Agri View.
Well, the USDA has released information that will shock not many, if anybody at all. The cost of food has gone up faster than the rest of the economy. So what else is new? The study covers housing, transportation, food, medical care, clothing, education, communication and recreation. The average family spends twelve and one-half percent of its income on food. That is surpassed only by housing and transportation. This hasn’t always been the case. But is a fact that it is more years than not. It has been the fact for the past seven to nine years. Now in most years meat prices have led the upward surge. Transportation, right on the heels of food, has not been the normal burden in the past couple of years. And yet, that is because of lower oil prices.
But the rising cost of vehicles still makes it a burden for most consumers.
That’s Agri View for today. I’m Everett Griner