Higher Food Costs That Will Trouble Your Wallet

Food prices are high and are going higher.  According to a Wall Street Journal article written about the CEO of Smithfield Foods perspective on his business and the real world he is living, it's getting harder to bring home the bacon. 

Devaluing the US dollar is contributing to inflationary pressures and is lowering your purchasing power.  Politicians can do something here, if they so choose. 

Ethanol prices or the price of corn is going higher.  If 40% of the corn supply is allocated toward ethanol, then the demand for corn goes higher.  World populations are growing and demand is higher for food. 

For us military spouses who are shopping, it's challenging to determine what to do next.  For retirees or those on fixed incomes, it's more challenging because the trade-off is now do I buy my medicine or my food?  While many may not care and just go further into savings or debt to maintain their current lifestyle, it's becoming increasingly alarming to many who do care.  The future outlook looks grim or entails more creative ways to fund your current lifestyle. 

Reminders of the Great Depression and the more challenging times in the 1930s perhaps indicate the present cycle.  Natural disasters such as earthquakes and floods are shockers.  A lackluster economy that is trying to rebound is dim on the horizon.  Cutbacks on many levels are occurring.  The elderly population is fearful.  The baby boom generation is starting to retire and draw on social security.  College graduates cannot find jobs upon graduation.  Middle-aged workers are working longer hours for same or less compensation. 

Higher food costs that will trouble your wallet stems from the upswing in corn.   Meat prices will surge.  Milk and dairy products will increase in price.  Bread will go higher because it is a grain-item. 

If you track your food prices and can get the best deal for your dollar, it will help you and your budget as we as a nation endure an economical time unmatched since the 1930s.