Common Items At Risk from Inflation in 2011
I read an article today that I thought you all might find interesting. According to Phil Linderman of The Frugal Blog, we’re in for some economic inflation on everything from Cotton to Coffee. Here are some of the items he brings up as at-risk for inflation after a discussion with Dawn Thilmany, a professor of Agricultural and Resource Economics at Colorado State University.
1. Cotton
Although costs have already begun to swell, the cotton ship hasn’t yet sailed. T-shirts, towels and bedsheets prices will be safe well into spring and summer.
2. Cocoa
Not only could a $10 Hershey’s bar be the norm, chocolate drizzle, chips and flakes will become a thing of the past, all thanks to inflationary pressure.
3. Sugars and Sweets
According to a recent article from Bloomburg, sugar is the driving force behind the highest worldwide food prices in history.
4. Coffee
Expect supermarket coffee to jump in cost as well, though not as sharply.
5. Cereals and Grains
On the grain side, Sara Lee and Kraft Foods announced they’ll bump prices on certain products.
Etcetera…
He finishes the article with an ominous prediction:
What does this mean for the bluefin? If the Tokyo auction is an indication, people will still pay to eat an animal into extinction, no matter the dollar price. Demand will, in effect, wipe out supply. Food for thought.
Read the post here: Economic Inflation to Hit Everything from Cotton to Coffee
No, no, not cocoa!
I’m going to have to stock up on another 25 pounds from the Mennonites…
Yep. Why is it always Cocoa that has to inflate? Cocoa and gas; always cocoa and gas…
Herp Derp, thats only 5 things not 8.
Justin,
I didn’t reprint the entire article. You’ll have to go look at the original source to get the rest.
I’m going to try genetically-modifying some of my blueberry bushes to produce cocoa beans. Why should Monsanto have all the fun?
LOL!
Every payday I have been buying 5 pounds of sugar, a box of unsweetened cocoa, a box of hot cocoa mix, a block of baking chocolate, and a “pound” of coffee just for this reason.
I didn’t know about cotton. I would stock up on jeans if I could stay one size!
I will start stocking up on the cereals I love: grits, oatmeal (and the stuff to make homemade granola), and malto meal.
Stevia is a good source of sugar that you can grow. Also you can grow your coffee beans. And if you know how to sew you can buy bolts of fabric now. Light and medium weight cotton, denim, canvas, and twill along with a lot of notions. I will raid the thrift stores for items and patterns. Get the cheap cotton items there that you can make rugs with. Frugal is the key.
If not stock pile now. Remember you have something others want so make sure you are locked and loaded.
Well, I have a large plantation of sugarcane and I also grow coffee and cocoa. I also grow cottons and my workmen use if for pillows. Its good to grow something that will help others. besides, God has blessed me enough with my sugarcane plantation and cattle raising.