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Food Prices Escalate as Wages Decline! Job Cuts and Reduced Hours Create Perfect Storm

FOOD PRICES RISE

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Food is an essential component of our lives and yet one that too many people take advantage of. We can buy it cheap just about anywhere. If one store is too expensive, there are many stores nearby willing to undercut prices. But what happens when the supply chain breaks? What if there is suddenly more demand for non-perishable foods? How long can the supermarkets remain stocked? All questions most are unprepared for.

 

USDA ERS – Summary Findings

Summary Findings

This page summarizes the September 2020 forecasts, which incorporate the August 2020 Consumer Price Index and Producer Price Index numbers. See Changes in Food Price Indexes, 2018 through 2021 for data files. The all-items Consumer Price Index (CPI), a measure of economy-wide inflation, increased by 0.3 percent from July 2020 to August 2020 before seasonal adjustment, up 1.3 percent from its August 2019 level.

United States Food Inflation | 1914-2020 Data | 2021-2022 Forecast | Historical

United States Food Inflation | 1914-2020 Data | 2021-2022 Forecast | Historical

Cost of food in the United States increased 3.90 percent in September of 2020 over the same month in the previous year. Food Inflation in the United States averaged 3.39 percent from 1914 until 2020, reaching an all time high of 36.70 percent in May of 1917 and a record low of -34.30 percent in June of 1921.

Bank of England asks banks on readiness for negative rates

Bank of England asks banks on readiness for negative rates

LONDON (AP) – The Bank of England has asked commercial banks whether they are ready for negative interest rates, signaling that the central bank is moving closer to cutting its key interest rate below zero. If the benchmark rate were cut to less than zero, from the current 0.1%, commercial banks would have to pay the Bank of England to hold deposits for them.

Consumer Price Index Summary

Consumer Price Index Summary

Transmission of material in this release is embargoed until 8:30 a.m. (ET) October 13, 2020 USDL-20-1925 Technical information: (202) 691-7000 [email protected] www.bls.gov/cpi Media Contact: (202) 691-5902 [email protected] CONSUMER PRICE INDEX SEPTEMBER 2020 The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in September on a seasonally adjusted basis after rising 0.4 percent in August, the U.S.

The K-Shaped Recovery. A “V” For Some, Not For Most. – RIA

The K-Shaped Recovery. A “V” For Some, Not For Most. – RIA

Economists have come up with every variation of applying a letter of the alphabet to the economic recovery. Whether it’s an ” L,” a ” W” or a ” V,” there is a letter that suits your view. But what is a “K”-shaped recovery? Take a closer look at the letter ” K.”

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COVID Exodus: Home For Sale Listings Soar As Pandemic’s Economic Impact Grips San Francisco – CBS San Francisco

COVID Exodus: Home For Sale Listings Soar As Pandemic’s Economic Impact Grips San Francisco

SAN FRANCISCO (CBS SF) – Rents are tumbling and the number of homes listed for sale are soaring – all signs that the COVID 19 exodus from San Francisco was not losing its momentum six months into the pandemic.

‘Worst in the state’: S.F. sales tax data show likely population decline – SFChronicle.com

‘Worst in the state’: S.F. sales tax data show likely population decline

Sales tax data shows San Francisco’s population likely declined during the coronavirus pandemic, the city’s chief economist Ted Egan told The Chronicle. From April to June, the city’s sales tax revenue dropped to $30.8 million, down 43% from the prior year. Of the city’s 8.5% sales tax, it collects 1% for local use.

September Class 8 Orders Clear 31,000 | Transport Topics

September Class 8 Orders Clear 31,000 for Best Showing Since October 2018

Stay on top of transportation news: Get TTNews in your inbox.] North American Class 8 orders in September rocketed to the highest point since late 2018 to surpass 31,000 and climb well beyond replacement levels, ACT Research reported. Preliminary net orders reached 31,100, according to ACT, which will update the total once final data is available from original equipment manufacturers.

Every Company In and Out of the Dow Jones Industrial Average Since 1928

Every Company In and Out of the Dow Jones Industrial Average Since 1928

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Minerd Says Fed’s Main Street Lending Program a ‘Disaster’

Minerd Says Fed’s Main Street Lending Program a ‘Disaster’

Oct.09 — Scott Minerd, Guggenheim Global chief investment officer, says the Federal Reserve’s Main Street Lending progam intended to aid small businesses impacted by the pandemic has been a “disaster.” He speaks with Bloomberg’s Sonali Basak on “Bloomberg Markets: The Close.”


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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.

The financial system has seen massive swings. More money is flowing into equities. Less savings. More margin. Investment companies are watching ETF’s rise higher.

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