Sep 06

Supermarket food prices are soaring, with the price of key items rising at several times the rate of inflation, figures show.


The rising cost of the shopping basket

The price of fresh food has risen by 12 per cent since the start of the year, while meat and fish now costs 23 per cent more on average. Meanwhile chicken and ham have risen by 42 and 45 per cent since January, placing the former staples out of many consumers’ price range.

The rises in the price of both basic pasta and basmati rice have also smashed through the 40 per cent barrier.

Even so-called slump proof tinned foods have registered a price rise of 15 per cent – more than three times the Government’s official inflation rate of 4.4 per cent.

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Jul 17

Beef prices are likely to increase as rising food and fuel prices threaten many cattle ranches

The American beef industry is in trouble. Though the financial strain of rising fuel and food prices is being widely felt across the U.S. economy, the livestock industry, which consumes about 5 billion bushels of corn annually, is suffering more than most.

Feedlot operators, who fatten their animals on corn before sending them to a slaughterhouse, are losing $150 a head with corn prices near record levels because of demand for corn-based ethanol. In Texas, the country’s largest beef-producing state, a quarter of the once-packed feedlot space is unoccupied. Some operations are shutting their doors, and “liquidation”-the culling of herds-has become a frequent escape hatch for the seriously struggling.

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