Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend

Printer Friendly Page Save As Favorite View Favorites (# of views)   No comments
Exclusive to OpEdNews:
General News

The Ghost of CPI Future

By   Follow Me on Twitter     Message Susan Guest     Permalink
      (Page 1 of 1 pages)
Related Topic(s): ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

opednews.com

Author 2722
Become a Fan
  (6 fans)
Ever since I read the sentence in David Pimental’s study – that it takes 10 petrocalories to produce one calorie of food – I’ve been wondering when food prices would reflect the fivefold increase in the cost of a barrel of oil we’ve experienced thus far this millennium. And then I began to wonder how the prices of other raw materials used to produce the end products we consume might also affect my wallet, and be reflected in inflation statistics.

The Bureau of Labor Statistics reports that for the twelve months ended November 2007, the CPI is 4.3%. The CPI, unlike inflation, includes food and fuel, and is one of the most widely used indicators of inflation.

How does 4.3% square with what’s flying out of your wallet each time you visit the gas pump and grocery store? While we wait with baited breath for the ‘official’ 2007 numbers to be spat out next week, here are some harbingers of things to come (source: Pink Sheet published by the World Bank, January 8, 2008.)

Percentage changes were calculated using annual average prices for 2005-2007:

Coal, up 38%
Crude oil, up 34%
Coffee, up 71%
Soybean meal, soybean oil, soybeans, up 43%, 62%, and 40%
Corn, up 66%
Sorghum, up 69%
Wheat, hard and soft, up 68% and 76%
Rubber, up 49%
Aluminum, up 39%
Copper, up 93%
Lead, up 164%
Nickel, up 153%
Tin, up 97%
Zinc, up 135%

These commodities prices reflect the price of raw materials used to produce everything we consume. Caveat Emptor.

 

- Advertisement -

View Ratings | Rate It

Former VP at Citigroup, BBA, MBA. Currently a whole diet farmer in VA, watching with incredulity the country giving Bush and Obama passes on their war crimes for the past 16 years. We all share responsibility for where we are and need to heal (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon



Go To Commenting
/* The Petition Site */
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Follow Me on Twitter

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Related Topic(s): ; ; ; , Add Tags
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Questions to Ponder as We Hurl Toward November

Things We've Forgotten

The Ghost of CPI Future

But He Hasn't Got Anything On!!