Tuesday, March 21, 2023

Why Grocery Store Staples Are Expensive

The article in TIME suggest the following reasons why the cost of food are rising, particularly in the United States:

1. Chicken and eggs - avian bird flu epidemic in the United States and price gouging.

2. Butter and margarine - extreme heat and smaller cow herds; supply chain issue due to Ukraine and          Russian war ; higher energy and fertiliser costs.

3. Meat - beef decreases in prices, but not for a good reason. Drought forces farmers to sell earlier than 
    usual, therefore increasing demand and lower prices.

4. Vegetables and fresh fruit - dry weather conditions and insect-born virus have damaged crops.

The article also offers several tips on how to save on groceries.

Image credit: Bureau of Labor Statistics, TIME 


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Oppenheimer and Oscar Economics

This  article  is quite long, but has important modern implications.  Source: Michael Ramirez, The Gazette.