Food Might Get Cheaper: Report

Categories: Edible News

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Foods from meat to millet might become more affordable this year, as farmers expect 2012 to bring plentiful crop yields, Bloomberg reports.

According to the news service, Standard & Poor's has determined that eight top foodstuffs dropped significantly in price in 2011 -- including cocoa, sugar, coffee, and soybeans -- suggesting that the new year will bring the same decreases.

What this means: Food inflation -- basically a fancy way of saying food price upswings -- will probably slow, from a peak increase of 6 percent in 2011 to a more stable rate of 3 to 4 percent.

In the U.S., food costs will probably go up 2.5 to 3.5 percent in 2012, Bloomberg reports -- compared with 2011, when they ballooned between 3.25 and 3.75 percent.

Wheat prices have dipped, Bloomberg notes, bringing down the price of animal feed.

Because of this, economists also predict that livestock production will boom in 2012 and that the new glut of pork and beef on the market will make meat significantly cheaper.


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8 comments
Кабель HDMI
Кабель HDMI

Bury

BS. Companies never lower prices after hiking them up. Even if the exact, concrete factors causing them to raise prices goes away, they will just raise them even more for something else next time, forgetting that they are still riding on hiked prices even though their costs for something else just got cheaper.

Mikoe Wozz
Mikoe Wozz

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Smith  Andrew
Smith Andrew

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jennifer1112028
jennifer1112028

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hengdoo
hengdoo

I never really thought about it like that before. Makes sense.www.Total-Privacy dot US

Ricky Hollywood
Ricky Hollywood

I love the economy.  The cost of doing business goes down and prices continue to go up.

Holly Rickwood
Holly Rickwood

There are (at least) two types of inflation, demand-pull and cost-push. So it's possible for prices to rise even when producers' costs drop. If you don't accept this, you're just like the Republicans who don't believe evolution is legit.

Ricky Hollywood
Ricky Hollywood

Ha!  Why you mad, bro?  That's cool, you don't know me, but whatever makes your epeen bigger.  You didn't say anything, though.  You just quoted some bullshit out of ECON 101.  I've seen supply and demand curves, but you forget that this so-called "free market" has nothing but corporate greed fueling it.  I think it has more to do with what the market will bear than what you said.  So, if we show that we will pay more, then no matter how low the production costs get, the price will stay the same or go up.  Case in point: gasoline.  So, pull your head out of your ass and calm down.

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