Rising Gas Prices
The price of gas is in the news once again. It’s expected to rise over $5 a gallon by summer. Ouch! Presently it’s close to $4 in most states, in some places gas has already topped $4.
When gas goes up everything else will rise. In order to get products to your neighborhood store, they must be trucked. When truckers pay more for gas, you will pay more for everything. While you may be able to cut back on some family expenditures, food is a constant.
Where Are We Now?
We know steep inflation is not only here, but will get dramatically worse. The media isn’t doing us any favors by constantly stating inflation is low. Some claim inflation is under 4 percent. A quick look at the Commodity Price Index chart (there’s a summery below) indicates the real inflation rate was over 20 percent for the past 12 months, more than 30 percent for food—higher for commodities. (Click Here for chart.)
Is your cupboard bare? Sam is scrounging for a snack.
Be sure to note that the Commodity Food Price Index is up 30 percent! Have you gone to the grocery store lately? I went to Costco and a whole foods store on Wednesday. The only meat I purchased is one package of organic chicken breasts and one package of sliced turkey at Costco. Everything else was produce, bakery or paper products. The two totaled $300. (I nearly fainted.) I wasn’t even stocking up, just replenishing the items I use the most.
When stocking your pantry, think also of regularly-used non-food personal items. My favorite shampoo, conditioner and hair color go on sale two times a year. Usually that means at least a 20 percent discount. I save between $3 and $1.50 per item when I purchase hair products on sale. I usually buy enough for 6 months to get me to the next sale. If you belong to a discount grocery store, like Costco, then it’s always a bargain purchasing paper products. But when they are on sale, it’s a double bargain. Storage isn’t a big problem, because you can store personal products in the linen closet, TP under beds and paper towels in the garage or basement.
Inflation Over The Last 12 Months
The following inflation percentages are for just over the last 12 months! Let’s see, what else do we need to live? Not much, cause everything we need is on the list.
Cotton is up 132 percent.
Agricultural raw materials up 39 percent.
Oil up 21 percent.
Coal up 36 percent.
Metals up 57 percent.
Coffee up 70 percent.
Wheat up 62 percent.
Beef up 39 percent.
Fish up 31 percent.
Hard logs up 19 percent.
Soft logs up 27 percent.
Rubber up 79 percent.
Wool up 57 percent.
Fertilizer up 39 percent.
Soy beans up 42 percent.
Corn up 58 percent.
Silver up 60 percent.
Industrial Inputs Price Index up 51 percent.
Commodity Food Price Index up 30 percent.
Commodity Fuel Price Index up 20 percent.
Time to Stock Up
If I haven’t convinced you to stock up your pantry before, now would be a good time to begin. Food inflation is only going to get worse. Now is the time to think about a summer garden. I purchased organic vegetable seeds yesterday from Morgan County Seeds. As soon as the snow melts, I’ll prepare the soil and put up a fence to keep the deer out.
Check out my previous blogs about food storage. They are in the category to the right of this page, “Stretch Grocery $$$.“ It’s not as difficult as you might think. You still have time, although things will cost you more.
Rotating your food storage keeps it fresh and the cost of food down. Food will cost less, because you will be purchasing when it is on sale (the lowest price available). I watch for my most used-items to go on sale and then buy by the case. Of course, there is long-term emergency food storage option. That is something to think about after your pantry is no longer bare. For long-term dehydrated food storage with no GMOs, no MSG, no chemical dyes, no trans fats, Click Here.