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inflation

November 9, 2021

Inflation update: world food costs up 30% since 2020

The United Nations reports that world food prices have jumped to the highest level in over a decade.

According to an index published by the Food and Agriculture Organization of the United Nations (FAO), the index has risen over 30 percent this past year, now standing at its highest level since 2011.

The price of wheat jumped 5 percent in October because of reduced harvests from key exporters, including Canada, Russia, and the US.

The FAO cited high global demand as part of the reason for the dramatic jump in prices for products like milk powder, poultry, vegetable oils, and barley.

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World food prices are up 30% in a year

October 16, 2021

Report: households will pay more to heat their homes this winter

The Energy Information Administration (EIA) released a report predicting that rises fuel prices and demand will cause home heating costs to increase significantly.

EIA officials say all residential consumers should expect to pay more for heat, but the type of fuel you use will determine by how much.

Roughly half of all households in the nation use natural gas, and they will pay upwards of 30 percent this winter. Homes heated with electricity will pay 6 percent more, according to the report.

The report says it will cost natural gas consumers an average of $746 to heat their homes this winter, while electric heat users will spend about $1,268.

Households that use heating oil or propane will experience an even higher spike in costs. Heating oil consumers will pay 43 percent more on average, and propane users will pay 54 percent more.

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U.S. households will pay more to heat their homes this winter, officials say

September 21, 2021

Americans react to the most expensive gas in the country

Travelers patronizing the most expensive gas station in the country reacted to the skyrocketing prices of fuel and general inflation that Americans are experiencing.

In California, Schlafer’s Auto Body & Repair in Mendocino charged $6.74 a gallon — the highest in the nation. The average price for gas in the Golden State is $4.39, and the national average is $3.20.

“It’s a problem,” said one man traveling through Mendocino, which only has one gas station. “The price of everything is going up.”

Since August 2020, the prices of all items have risen 5.3%.

“I’m retired myself so I live on a fixed income. So these things matter to me and my generation,” said Bill Kemper, a long-time visitor of Mendocino. “I worked hard like everybody else in my situation did to be able to retire, but if prices keep escalating like it is, it’s going to make it very difficult for everybody in California and in the country as well.”

Some assigned blame to President Biden.

Kemper said Biden is “spending money, as we used to say when I was in the military, like a drunken sailor.”

“It doesn’t matter how much he spends, he just prints more money, and taxes more of it, which of course causes inflation to go up,” he added.

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California drivers react to the most expensive gas in America

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