Food Prices Are Soaring Faster Than Inflation and Incomes

[Kong Hey Pakboy]

Is there any country this isn't happening to?

Japan experiences deflation which is also bad because that means that there is no growth in the economy, being stagnant in between inflation and deflation is the ideal thing for a country to achieve, I don't know much about the income and food prices there but I have read an article that they are experiencing deflation.

[Johnyz]

Is there any country this isn't happening to?

Japan experiences deflation which is also bad because that means that there is no growth in the economy, being stagnant in between inflation and deflation is the ideal thing for a country to achieve, I don't know much about the income and food prices there but I have read an article that they are experiencing deflation.

Too much is not good at all and seriously, we can't stop the inflation even the deflation, the government has to do something about this one. The goal of every government is to make the inflation move slowly, because there's no way to stop it from growing but we can slow it considering all the economic variable.

The Covid19 is just one of the reason why the inflation is increasing, this is why we have to help ourselves as well and do some good investments that can double your money, don't just put it on a savings account with banks spend it.

[Gyfts]

Well, can anyone say they're surprised? The food prices can be explained due to the supply chain issues, but that's just temporary. The bigger discussion should be on inflation because printing money and massive spending basically props up an economy while the real effects will come in 3-4 years from now. When the US hands out unconditional checks and makes everyone in the middle and lower class 1,400 dollars richer, no one gets richer. You reduce the purchasing power because EVERYTHING will increase in price, not just food.

[Reid]

It is a very complete report, however it is a rather complicated scenario if the US were to run out of food supplies, in the case of South American countries inflation is exuberant, such is the case of Venezuela, it is not only difficult to get vegetables and fruits Since the prices are very high, there is a large amount of land where the peasants cultivate, also any item is very expensive, I honestly do not know how or how much is spent weekly in a market, but in Venezuela you spend $ 100 and you cannot cover the food basket.

The crisis has generated that people, instead of decoration plants in their homes, plant onions, coriander, among others to avoid making an expense in the near future, given that the US population is very large, it would need to import vegetables and fruits, I hope that this scenario does not arrive, but you have to take precautions.

Actually, that is one way to combat this problem. If you have a small garden or a small land, better tend it with vegetables or plants that will help you in surviving this crisis. Don't look far, evaluate your own situation, and see what you can with your own surroundings. Because waiting for the government subsidy and other help, is not an option right now. You need to act on your own to survive. Don't wait for others' help.  The situation is much better if you can help others.

Precisely.
When this pandemic started I already told my wife that we can save some money if we could plant vegetables in our little garden.
And we did.
Chilis, tomato, and other small plants that don't really need a huge land to bring fruits/vegetables.
We actually notice it right now. Months ago chilis had been like a rare item and its price went up. Damn expensive to afford and my neighbors are talking about how overpriced it was. Thankfully, our plants already had produced so we are saving a hell of money.

I have no idea how it can be connected to crypto but if there is a chance then why not.

[LUCKMCFLY]

It is a very complete report, however it is a rather complicated scenario if the US were to run out of food supplies, in the case of South American countries inflation is exuberant, such is the case of Venezuela, it is not only difficult to get vegetables and fruits Since the prices are very high, there is a large amount of land where the peasants cultivate, also any item is very expensive, I honestly do not know how or how much is spent weekly in a market, but in Venezuela you spend $ 100 and you cannot cover the food basket.

The crisis has generated that people, instead of decoration plants in their homes, plant onions, coriander, among others to avoid making an expense in the near future, given that the US population is very large, it would need to import vegetables and fruits, I hope that this scenario does not arrive, but you have to take precautions.

Actually, that is one way to combat this problem. If you have a small garden or a small land, better tend it with vegetables or plants that will help you in surviving this crisis. Don't look far, evaluate your own situation, and see what you can with your own surroundings. Because waiting for the government subsidy and other help, is not an option right now. You need to act on your own to survive. Don't wait for others' help.  The situation is much better if you can help others.

Precisely.
When this pandemic started I already told my wife that we can save some money if we could plant vegetables in our little garden.
And we did.
Chilis, tomato, and other small plants that don't really need a huge land to bring fruits/vegetables.
We actually notice it right now. Months ago chilis had been like a rare item and its price went up. Damn expensive to afford and my neighbors are talking about how overpriced it was. Thankfully, our plants already had produced so we are saving a hell of money.

I have no idea how it can be connected to crypto but if there is a chance then why not.

A good idea to develop a Crypto project, it is undoubtedly an option that can be controlled by Blockchain, now, vegetables, fruits, especially there are avocado trees that grow small and give very good harvests, you can also improvise a small cage and put a hen and a rooster in, they have eggs that are a good source of protein and at the same time they can take chicks.

This can be carried out by automated control, not only with a PLC or with a microprocessor, but also in Blockchain to program it and to do cleaning tasks to the cage and to place their food, thus guaranteeing hygiene and food for human consumption.

[el kaka22]

In my nation meat started to cost so much that people are basically just stopped eating it, that's not a healthy situation, I know UK for example has cheap meat, but the prices of regular veggies started to get horrible there as well, that seemed a bit weird.

I do not know what people are thinking about when they are doing something like this, governments needs to intervene but I have seen people who keep food stored to get the prices up in order to sell at a better price as well, that's horrible to hear. Long story short each nation has some food that is very expensive for them, for mine veggies are nearly free type of cheap but meat is basically gone out of discussion, for UK meat is very cheap, you can get a nice steak for 2 pounds, but a potato salad would cost you 10 pounds, that makes no sense, and all of that should be dropped in all nations, food should be human right.

[wxa7115]

We are reaching a critical point, inflation in luxury items or in stuff people do not normally use or have access is not going to affect them however inflation when it comes to food is going to have very adverse effects all around the world.

This is simply a matter of ROI, most people do not want things like a revolution happening on their country because deep down they know all the bad effects it will have plus the fact they may risk their lives, but if they do not have food for themselves or their families slowly the ROI for a revolution begins to switch towards revolution, and I would not be surprised if in the next years we see some governments going down because of the high food prices.

If the minimum wages are increased in parallel with the inflation then we should be able to curtail the problem of increased in the prices of basic necessities. We don't need a revolution to have a change, we just have to choose the right and competent person to get into the position of power, someone that really do care about the people more than their own interest. Teach your children not to be a sycophant fanatics of politicians, teach them to ask the right questions, teach them common sense and critical thinking, teach them compassion and charity. This simple things that our parents didn't do can help the future generations become better than the past generations.

While I agree that a politician that really cared about the people will be able to help in these difficult circumstances things are never really that simple, an increase in minimum wages may seem like the perfect solution for our problems but it is not true, if you raise minimum wages without an increase in production what business people are going to do is to fire people until they can get their costs under control and basically force the rest that still keep their jobs to work harder and longer for that pay.

Printing more money as many governments are doing is not a solution either because this is the main cause for inflation which is making food more expensive for the average person, so as you can see there is not an easy way out for our current economic problems.

[Karartma1]

What happened in the Suez Canal will also become one of those triggers that could start the avalanche of inflation on prices which were kept under control for too long now. Since what happened will have big consequences expect prices of goods to be at least 10% higher than what they used to be. And the worst is yet to come.

[sapnu]

I think this covid-19 is a big joke to us because it makes us suffer more from time to time and over a year there's a little progress although they've said there's an effective vaccine already but I still have my doubts about it. We should do something about of the food crisis and one of the best suggestions is to make a garden and plant more vegetables in your backyard or somewhere else around your house.

I think this food prices issue will still continue to grow more and more and it might be too late if we only take action when we finally realized that the cost price is doubled or tripled. If you are on a third world country, you should learn how to survive without the help of the government.

Having a stable job is not enough nowadays because of the minimum wage rate, we should learn to improvise and adapt to the situation in order to survive even without the help of the others.

Also, we can count in the abuse of the natural resources in the world on why we are getting near to the critical point of food crisis. There are plenty of mountains being mined more than it should be and trees are being cut without even replacing it. The virus somehow helped for a while for the mother nature to regenerate and heal but on the other hand, it is causing the economy of each country to go down. The salary each poor family is recieving cannot even sustain their needs for a week as the prices of different essential need continue to increase. Maybe putting up your own garden could be a good idea but not everyone in the world has a backyard where they could plant their crops. In the near future, some country will surely experience famine, and I think that is innevitable.

[Kakmakr]

A lot of people are not sitting back and waiting for this to happen. You see a lot of urban gardens on Roof tops these days and people cultivating food on subsistence farms in their back gardens. (Chickens for eggs and some tomatoes and greens)  

So whatever you produce for yourself, you do not have to buy in the shops. We know governments are not adding the food to the Inflation basket, that are rising the most... because it makes them look bad ..if the inflation is too high. (Most government employees salary increases and workers salary increases are based on the inflation too...so they manipulate it..to keep it low)  

[Vishnu.Reang]

What happened in the Suez Canal will also become one of those triggers that could start the avalanche of inflation on prices which were kept under control for too long now. Since what happened will have big consequences expect prices of goods to be at least 10% higher than what they used to be. And the worst is yet to come.

At first I thought that it may have an impact on food and commodity prices. But the blockade was removed today and the ship which was blocking the canal was successfully refloated. More than 300 ships were on queue as a result of this blockade, and the cargo may have included food items. Fortunately the issue was resolved in quick time, before it could cause huge amount of damage to the global economy.

[bitgolden]

At first I thought that it may have an impact on food and commodity prices. But the blockade was removed today and the ship which was blocking the canal was successfully refloated. More than 300 ships were on queue as a result of this blockade, and the cargo may have included food items. Fortunately the issue was resolved in quick time, before it could cause huge amount of damage to the global economy.

I think we have to consider the fact that some of those items, if there was food of course, could go bad if they wait for too long. This is why there needs to be some sort of lessons about this. I get that it is already a very difficult situation and a canal is not something easy to do, but maybe bigger, or maybe a double could solve this in the future. I am not saying it should be done or even could be done because I do not know these type of things to be honest, but I think this is obviously not working if just one problem caused so much.

However people need to realize even if 300 ships were waiting and some food in them go bad, that doesn't mean that we should have a worldwide price increase considering that wasn't the only food, or even majority of the food, maybe except few nations. However food prices increasing everywhere, it is getting harder. One main problem is that new generations are not becoming farmers, they prefer other jobs, and that is a big reason to not have cheap food anymore.

[aysg76]

Due to pandemic there is shortage of supplies everywhere which in turn is affecting production and this is leading to increase in food prices because they all are connected to each other.Inflation is contributing more towards this situation and native currency geeting weak against US dollar will increase the import charges which will also surge the prices.So wee need to find some optimal solutions for these problems because they will not get cheap any time soon and tend to rise in future so find a way to get your own food supplements stack or some good source of income to afford them easily.

[DrBeer]

This problem should be divided into at least several "vectors".
The first. If you look at the history of mankind, then any large-scale cataclysms carry risks for the population. The pandemic carries the risk of a decrease in production and, accordingly, a decrease in the availability of goods. In our country (Ukraine), as in many countries of the ex-USSR, there was a habit, in the event of some kind of incomprehensible situation, to massively buy food and "essential" means. That has always led to an increase in demand and, accordingly, prices. I have seen examples of Western countries suffering from such actions.
Second. Real drop in production. From staff cuts to problems with financing the agricultural sector. The agricultural sector often attracts external loans, bank loans, etc. In times of global crises, money rises in price, the same loans receive additional risks "in the load".
Third. Just a conspiracy of manufacturers, and most likely retail chains - why not make money on what people will buy BEFORE the LAST day of their lives - food, in a situation where there is a question of survival and the formation of a food "pillow".
Other options are also possible, I wrote about the first thing that came to my mind

[Karartma1]

What happened in the Suez Canal will also become one of those triggers that could start the avalanche of inflation on prices which were kept under control for too long now. Since what happened will have big consequences expect prices of goods to be at least 10% higher than what they used to be. And the worst is yet to come.

At first I thought that it may have an impact on food and commodity prices. But the blockade was removed today and the ship which was blocking the canal was successfully refloated. More than 300 ships were on queue as a result of this blockade, and the cargo may have included food items. Fortunately the issue was resolved in quick time, before it could cause huge amount of damage to the global economy.

There are in any case many billion dollars floating around that have been burned these days due to the blockage and, for this reason, I expect to see an increase of prices, even if of a slight nature.
I also expect insurance companies to raise the premiums because of this and trust me that those price raise will be then offloaded onto the final customers (us).

[samcrypto]

A lot of people are not sitting back and waiting for this to happen. You see a lot of urban gardens on Roof tops these days and people cultivating food on subsistence farms in their back gardens. (Chickens for eggs and some tomatoes and greens)   

So whatever you produce for yourself, you do not have to buy in the shops. We know governments are not adding the food to the Inflation basket, that are rising the most... because it makes them look bad ..if the inflation is too high. (Most government employees salary increases and workers salary increases are based on the inflation too...so they manipulate it..to keep it low) 

Because of limited supply and a huge demand, they are forced to the back-up plan which is to plant their own crops and harvest it as needed. We know how the population increases over time and with the current pandemic situation, people tend to consume more. Inflation grows as well along with those crops, we are living on a expensive time where money is very important nowadays, good thing we have Cryptomarket to earn some extra money to spend for our needs.

[Silberman]

Inflation is coupled with food prices, if food prices are going up faster than inflation then that means that there is an overpricing that is going on. Based on the definition in Google, inflation is a general rise in the price level in an economy over a period of time. The real problem is that the inflation rate is going up more than the recommended annual percentage which is around 1 to 2 percent which if achieved meant that the economy is growing.

Not really, inflation does not happen all across the board in the same proportion, inflation has a tendency to affect the things that people need the most and one thing that no person can do is to live without food, so when inflation begins to go up very rapidly one of the first things that go even faster than that is food, not only because people keep buying it but also because people begin to panic and buy more of it whether because they want to avoid inflation or because they think things are going to get even worse, and we see this happening as well in other key markets like housing.

[Sithara007]

At first I thought that it may have an impact on food and commodity prices. But the blockade was removed today and the ship which was blocking the canal was successfully refloated. More than 300 ships were on queue as a result of this blockade, and the cargo may have included food items. Fortunately the issue was resolved in quick time, before it could cause huge amount of damage to the global economy.

I think we have to consider the fact that some of those items, if there was food of course, could go bad if they wait for too long. This is why there needs to be some sort of lessons about this. I get that it is already a very difficult situation and a canal is not something easy to do, but maybe bigger, or maybe a double could solve this in the future. I am not saying it should be done or even could be done because I do not know these type of things to be honest, but I think this is obviously not working if just one problem caused so much.

However people need to realize even if 300 ships were waiting and some food in them go bad, that doesn't mean that we should have a worldwide price increase considering that wasn't the only food, or even majority of the food, maybe except few nations. However food prices increasing everywhere, it is getting harder. One main problem is that new generations are not becoming farmers, they prefer other jobs, and that is a big reason to not have cheap food anymore.

The economic damage from the blockage could be as high as $100 billion (as per the BBC). Almost one-eighth of the global trade passes through the Suez canal, and it contributes 2% to the GDP of Egypt. Taking the alternate route (around the Cape of Good Hope) adds some 9 to 10 days to the journey time of cargo ships. All that said, I don't think that food that was transporting inside the ships might have gone bad. Most of the food items were wheat, barley.etc, which are having good shelf-life.

[xSkylarx]

One possible scenario for this is creating educational lectures on how to grow and produce food with a quiz at the end. Rewarding participants with crypto coins for answering questions correctly. A big part of humanitarian efforts in 3rd world nations is education on how to grow crops. Farming competitions could be held and rewarded via token. Its the internet era ideas like these are a dime a dozen.

This is a great idea to encourage more people to learn and produce raw food materials by themselves. Since farming simulation game on the crypto world is very popular now like Town Star. It sbould not be all about answering questions correctly but instead have a farming tournament where a number of people are tasked to produce a particular crop. Tey will be ranked based on the quality of crop they will prodice, only top 3 can win that token. All of their harvest can be a big help in increasing the supply of that crop thus decreasing the price.

[kolbalish]

I don't understand what to explain about this consequence. The dilemma is so dire that it is problematic to imagine what will happen to the people. I assumed that the allotment for Corona is getting less and that is why the price is going up so fast. On the contrary, the income is not improving. The circumstance is becoming very difficult day by day for the middle class, lower-middle-class, and lower class. The affidavit is correct because even in the stock market, it appears that prices do not fluctuate as fast as in the case of food prices.