Posted on | October 28, 2010 | No Comments
Official inflation numbers are very low and do not correspond with the reality people face when they shop. The US Bureau of Labour Statistics reports inflation at 1.1%. This post shows year-over-year increases for basic staples such as wheat (74%) beef (18%) and coffee (27%). I have been occasionally recording food prices to do my own inflation calculations, using prices at Grocery Gateway. The chart below shows the annualized change in basic food prices based on total changes from January 2008 to today. A one litre carton of 2% milk went from $1.18 on January 16, 2010 to the listed price of $2.69 today. The only food item on my list that did not similary increase was a one kilogram bag of oat cereal.