Interesting insights from folks who see both sides of the coin. Or as JFK put it:
sells everything at wholesale, and pays the freight both ways."
—Senator John F. Kennedy, stump speech, 1960
Via Farm Journal/AgWeb, December 10:
Inflation is making itself at home in the American economy.
Consumer prices through November are up 6.8% compared with a year ago, according to the U.S. Bureau of Labor Statistics. The CPI for urban consumers rose 0.8% in November after rising 0.9% in October.
Price increases were reported with most component indexes, according to the report, with prices for gasoline, shelter, food, used cars and trucks, and new vehicles among the larger contributors to rising prices.
The energy index rose 3.5% in November as the gasoline index increased 6.1% and the other major energy component indexes also rose. The food index increased 0.7% as the index for food at home rose 0.8%, according to the report.
“We're going to be in this period for quite some time. I mean, even after once we get through the holiday period where all these consumers are buying things, and we have all these logistical problems, I don't think our problems end there,” said Tanner Ehmke, lead dairy economist with CoBank. “We've still got so many people have left the workforce, and that's going to be driving wage inflation. And that's going to be driving price inflation for quite some time. And that's a systemic problem that is not transitory. This is an economy that is trying to find its footing now.”
“I think the some of the commodity markets had already been embracing inflation prior to Federal Reserve Chair Powell even coming out and saying, ‘Yeah, I think this might be here for a while,’” says Mike North of ever.ag. “You had simple things like inflation indexes that were already trading at 3%. We didn't buy into the transitory argument.”....
(Graphic by Lindsey Pound)
....MUCH MORE
