New York, NY (PRWEB) December 26, 2008
The nation has its hands full, between preparing to inaugurate a new president, fighting two wars, and dealing with the nation's worst economic recession in over twenty years. Add to that the highest jump in consumer goods in eighteen years, and you have all the ingredients for a nation-wide panic.
Food prices across the country have been rising at a pace faster than most Americans can keep up with. According to the Consumer Price index in 2007, "The price of eggs has jumped 35 percent. A gallon of milk is up 23 percent. A loaf of white bread has climbed 16 percent. And a pound of ground chuck is up 8 percent." The index predicted that overall prices for food in the U.S. would rise between 4 and 5 percent, doubling the increases of years past.
Unfortunately, their predictions have turned out to be entirely accurate, with "overall retail food prices for 2008 to 2010 expected to rise faster than the general inflation rate," according to USDA Chief Economist Joseph Glauber at the U.S. Agriculture Department's annual outlook conference. As the rate of increase for food products rises above the nation's inflation rate, more Americans are finding it difficult to support basic needs.
With food being shipped to us from great distances and with gas expenses as high as they are (albeit they have dropped since last year), it is no wonder import costs have been going up. The world food market has been struggling for years with rising prices; it was only a matter of time before the struggle hit the United States.
Rising wheat prices, stemming largely from the increase in use of biofuels like corn-based ethanol, have made it near impossible for farmers to feed and maintain their livestock, which of course trickles down to the meat industry. While the use of corn-based ethanol is a significant advancement for the world energy crisis, Americans are now presented with the dilemma of choosing between food and fuel.
The good news is that grocery coupons are providing some relief for the US Consumer. A recent study by the http://www.selectcouponprogram.com found that coupon usage has reached an all time high in the United States.
Unfortunately, the rising costs also affect organic foods. Organic milk has risen, in some states, to $7/gallon, raising the question of how long Americans will continue to purchase healthy. Environmental activists are struggling to drum up support for organic food products during these tough economic times.
About Select Coupon Program:
Select Coupon Program was founded 25 years ago by the "Coupon Queen", Susan J. Samtur and her husband Stephen. The company provides tips to consumers to help them save money on grocery shopping.
Stephen Samtur, President
Select Coupon Program