This probably goes under the cateogry of “I’m Just Sayin.” Most of us are pretty comfortable for food. We want something, we go to the store, offer a debit card and walk out of the store with usually more than we went in to purchase. Easy.
Most of us are aware that the economy is experiencing a bit of heartburn from the housing mortgage crisis, subsequent lending and financial institutional bailouts, and maybe you are even aware that the value of the US Dollar is making the United States the newest travel destination for Europeans. The price of oil and changes in the ethanol and formulations are also having some unsuspsecting effects on both food delivery costs and stockpiles of grain storage. In fact, investors at MSN Money are suggesting food related stocks are a growth oriented area.
Does this really have an impact on any of us? Hmmm. Probably more than we want to realize. Bread, dairy, eggs, the wheat and grains needed to feed both people and protein machines like cattle are all related. If some people have started to notice the price of their grocery cart going up, their right. Both inflation of the basic food costs and the decline of purchasing power of the dollar are starting to change from pennies to dollars. Shortages, either real or perceived, are also inflating costs as outlined in the article above from MSN.
I live in Houston, a pretty large metropolitan area with selection and variety the name of the game when I go shopping. Other parts of the country are rumoured to be posting signs with sale type limitations on quantities purchased. You know, limit 4 per customer or household? These are typically associated with sales to entice customers in to stores. Now, the cost of stocking goods is hurting some stores and resellers and they are limiting goods below the demand.
What does this mean? Two things. Food costs will continue to rise, and availability may become an issue depending on the part of the country you live in. To protect the value of your wage earned dollars, buy in bulk at today’s prices. The cost of rice has increased 13% over the last twelve months with most of that in recent surges. Eggs are soaring at over 25% inflation. We have started using a mixture of Powdered Eggs and fresh eggs to extend the cost. I am not ready to give up eggs, or the flavour of real eggs, but extending our egg omelette’s and such with partially pantry eggs is great.
If you shop at a local Costco or Sam’s or bulk food provider, watch for good deals on things that will keep in the pantry for a long period of time. Buy things your family will use and pay for it in today’s dollars. Tomorrow’s dollars may not stretch as far. Canned goods, pastas, rice, and grains are great to have on hand. It’s nice to look in my pantry and think I am saving both by buying in bulk, and buying now instead of later.
2 responses so far ↓
1 Charlie // Mar 24, 2008 at 4:30 pm
I completely agree with what you have written here and think that the rising cost of food is going to come as quite a shock to most Americans. Moreover, the cost of going out to eat is send most middle and upper-class Americans into an apoplectic fit. For decades now, the rising cost of food hasn’t translated into necessarily higher costs at our local restaurants; however, those owners can no longer cut into their own bottom line.
I think modern Americans are in for a surprise these next few years. Yes, we are in a recession. Nobody should fool themselves. Yes, things are going to get much, much worse before they get better, and that means completely re-evaluating our lives and our priorities.
My secret hope is that the rising cost of food will make people appreciate the quality of a good meal, and, more importantly, will bring us back to the dinner table as a social and hospitable place. Perhaps we can rediscover a sense of community and togetherness that seems to be painfully lacking in the current society we dwell in.
I’m not saying we don’t go out to eat. I would actually encourage going out on special occasions, making it somewhat infrequent to highlight the event. On regular nights, eat with your family and friends. Make it part of your routine to invite people over or have a potluck dinner. The cost for a meal at home with friends and family is significantly cheaper and far more enjoyable.
Okay, I’m stepping off of my dream box…
2 Ready Queen // Mar 24, 2008 at 8:19 pm
Charlie,
What a wonderful idea. How nearly nostalgic?
I am suddenly transported back to childhood when dinner parties were sometimes a thing of great planning and festivity, or as simple as the neighbor having extra squash from the garden that day. It seems the quality of conversation is also of greater value in the kitchen preparing meals with family and friends and hey… if we have to clean the dishes, what a sacrifice.
Maybe saving the value of our hard earned dollar will help us regain value in our lives. I am impressed and I like your dream box.
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