Record temperatures are driving food prices higher. Climate change is affecting the production and cost of some of the most common foods, such as olive oil, rice, and soybeans. The FAO Food Price Index, which tracks monthly changes in the international prices of commonly traded food commodities, and shows that they reached the highest level on record in 2022. #FoodPrices #ClimateChange #WEF https://www.weforum.org/agenda/2023/08/climate-change-food-prices-drought/?utm_source=flipboard&utm_content=HariTulsidas%2Fmagazine%2FArchetypes

On the whole I love where I live, but something I was super grateful for and really miss about living in the UK was the much-more-accessible food prices. I'm sure things have gone up since I left, but for scale, a perfectly ordinary, no-frills supermarket just charged me $11 for these potatoes. Meanwhile, state agencies have now withdrawn the #COVID hardship increase to #SNAP (food stamp) benefits, so people on low to no income get far less grocery money, while the massive "inflation"-induced price hikes (read: shamelessly opportunistic profiteering) from grocers are worse than ever. I'm fortunate to have an income that enables me to access food and housing at the same time, but many don't. This is what a class war looks like.

#FoodPrices #FoodPoverty #CorporateGreed #SocializeFood #UnconditionalBasicIncome #ClassWar

Germany: Inflation sinks slightly in July

https://www.dw.com/en/germany-inflation-sinks-slightly-in-july/a-66467055?maca=en-dipa_news_mstdn-34613-xml-mrss

#Germaneconomy #Germany #inflation #Destatis #foodprices

"There's also nothing to force supermarkets to pass on the savings, never mind the endless legal wrangling over what counts as 'fresh fruit and veg'."

#AnnekeSmith, 2023

https://www.rnz.co.nz/national/programmes/focusonpolitics/audio/2018900327/labour-grapples-with-kiri-allan-s-resignation-leak-claims

#RNZ #FocusOnPolitics #NZPolitics #NZElection2023 #tax #GST #supermarkets #FoodPrices

“George Weston reports $498-million second-quarter profit, lower than year before”
#CDNpoli #foodsecurity #foodprices #oligarchs #monopoly #costofliving
https://www.theglobeandmail.com/business/article-george-weston-reports-498-million-second-quarter-profit-lower-than/

There is some evidence that #inflation may be easing in #retail, with a stalling of price rises for some goods & a deceleration of #foodprices inflation... but if you think that might stop the BoE ratcheting up #interestrates on Thursday, you Riley to be disappointed....

Sado-monetrism needs to see a proper #recession before its work is done & the rich have punished the rest of us for having ideas above our station (like earning a living wage, for God's sake!).

So much of the discourse around food production does not question the axiom that labour exploitation ("cheap labour") must be maintained to assure low #FoodPrices.

What if we paid food producers and #farmworkers well and instead cut rent by 80%? #Farmers & farm workers actually do work unlike landlords. I can supply a family of 3 with more than enough #vegetables for about €1100 per YEAR. That's healthy, beyond-organic vegetables.

Let's switch it around. More for famers, less for #landlords.

Loblaws and SDM quarterly profit up to $508 million

Revenue across all of the company's businesses came in at $13.7 billion — an increase of $891 million, or almost seven per cent.

The company says the growth in its food division is led by discount stores, as consumers continue to push back against stubbornly high inflation.

#Food #FoodPrices #Canada #QuarterlyProfit #Inflation #FuckCapitalism

https://www.cbc.ca/news/business/loblaw-earnings-1.6918130

Federal Reserve Raises Interest Rate to Highest in More than 2 Decades https://politicaliq.com/2023/07/26/fed-raises-interest-rate-to-highest-in-more-than-2-decades/ #FederalReserve #interestrate #inflation #FoodPrices #GasPrices #Economy #politicaliq #news #politics

Expect everything from soda, baked goods and Halloween candy to cost more thanks to “sugarflation.”

“The intensity of the dry season that El Niño is set to influence this year could result in a 10%–15% reduction in sugarcane yield globally,” said Nidhi Jain, an associate specialist at The Smart Cube, a research firm.

#Sugar #Food #FoodPrices #ClimateChange #SweetTooth

https://www.axios.com/2023/07/24/sugar-prices-shortage-halloween-candy

Biden’s White House is taking on corporate mergers, landlord junk fees and food prices

https://apnews.com/article/biden-economy-junk-fees-mergers-food-prices-5b5fa5b210def675a56083e1ebbf922d

#APNews #BidenWhiteHouse #CorporateMergers #LandlordJunkFees #FoodPrices #Politics #News

@uspolitics There's a #HousingCrisis, #FoodPrices are through the roof, house insurance prices are through the roof, #InsuranceCancellation is rampant, #enshittification is rampant, there are #homeless people everywhere, everybody who's not homeless needs 3½ jobs to just barely avoid becoming homeless, #HealthCare basically doesn't exist, #retirement is a sick joke at this point, and #Biden wants credit for a good economy?!

UK inflation falls as prices rise less than expected | The Independent.
Food inflation only eases slightly but remains at very high levels (17.3%).
https://www.independent.co.uk/news/uk/politics/inflation-latest-figures-ons-may-b2377861.html

#FoodInflation
#FoodPrices
#Inflation
#BRC
#Tories
#Labour
#LibDems
#MartinLewis
#ResolutionFoundation
#OECD
#JosephRowntreeFoundation
#InterestRates

Egypt Struggles With Skyrocketing Inflation and Depreciating Currency, While Bitcoin Nears Record High in the Country - According to the Egyptian Statistics Bureau, Egypt’s annual inflation rate hit 36.... - https://news.bitcoin.com/egypt-struggles-with-skyrocketing-inflation-and-depreciating-currency-while-bitcoin-nears-record-high-in-the-country/ #approachingrecordhigh #depreciatingcurrency #annualinflationrate #bitcoinexchangerate #staggeringincrease #higherfuelcosts #foodprices

Agrifood Brief: What does a kilo of oranges cost? https://www.euractiv.com/section/agriculture-food/news/agrifood-brief-what-does-a-kilo-of-oranges-cost/?utm_source=dlvr.it&utm_medium=mastodon #AlbertoNúñezFeijóo #foodaffordability #foodprices

Canada's grocery business is controlled by large players and needs government assistance to encourage new entrants to bring down prices, a report from the Competition Bureau says.

The report, published Tuesday, is the result of a probe that Canada's top competition watchdog launched last year, when concern over food prices hit a fever pitch.

Top 5 control 3/4 of all food sales in #Canada

#Food #FoodPrices #Groceries
https://www.cbc.ca/news/business/competition-bureau-grocery-1.6889712

Soaring food prices harming mental health says Which? | The Independent
https://www.independent.co.uk/news/uk/home-news/food-prices-inflation-mental-health-b2364358.html

#MentalHealth
#MH
#FoodPrices
#FoodPoverty
#Poverty
#CostOfLivingCrisis
#CostOfSurvivingCrisis
#PhysicalHealth
#Health
#Women
#YoungParents
#Parents
#BRC
#NielsenIQ
#Inflation

Some Loblaws stores are now checking receipts as you leave — but experts say checks are not enforceable by law

Reports of signs warning customers their receipts may be checked comes amid record profits for grocery giants as Canadians grapple with the worst food inflation in decades.

#Canada #Food #FoodPrices #CostOfLiving #Inflation #RecordProfits #FuckCapitalism

https://www.thestar.com/business/2023/06/22/some-loblaws-stores-are-now-checking-receipts-as-you-leave-but-experts-say-checks-are-not-enforceable-by-law.html

I missed this yesterday. Sharon Graham, General Secretary of trade union Unite, takes apart the supermarket bosses' claims that they are not profiteering from the energy crisis.
#CostOfLiving #FoodPrices #EnergyCrisis #Unite #Supermarkets #Food

https://www.theguardian.com/commentisfree/2023/jun/09/profiteering-supermarkets-customers-food-costs-shareholders

Food prices continue to fall in Sweden. May was the second month in a row that food prices fell. Prior to April, food prices had risen for 17 consecutive months.

#inflation #foodprices #sweden