http://www.zerohedge.com/article/quick-glance-real-world-inflation
QE2 is next week,
What Casey's chart is showing you is how much food prices have jumped from the other bailouts that Big Ben has dumped into the system.
QE2 make those look like a joke.
The price of food has gone up 48% in the last year.
Now think of a single parent trying to manage this rise, unless their a brain surgeon, they're hurtin bad.
QE2 will pretty much do them in.
The Casey Report provides a useful glance at the real inflation currently ravaging items that are actually purchased by Americans, not those captured by the Fed's BLS statistics: "On average, our basic food costs have increased by an incredible 48% over the last year (measured by wheat, corn, oats, and canola prices). From the price at the pump to heating your stove, energy costs are up 23% on average (heating oil, gasoline, natural gas). A little protein at dinner is now 39% higher (beef and pork), and your morning cup of coffee with a little sugar has risen by 36% since last October." Of course, the ongoing deflation in items purchases requiring leverage will continue to skew the CPI so far south to make all those who bought 5 Year TIPS yesterday at negative yields end up losing money on the transaction.
Chart of the Week: Inflation in the Real World, by Jake Webber of Casey Report
