If we all cut back on eating by 7% we can make the Fed correct!
A basket of meats, cheese and other goodies from the grocery store cost 6.9% more in the first quarter of 2012 than it did a year earlier, according to a report from the American Farm Bureau Federation. As reported by The Los Angeles Times, a group of 16 items—including cheddar cheese, sirloin-tip roast, salad, orange juice and eggs—cost consumers $52.47 during the first three months of the year. During the same period last year, the price was $49.07. In the fourth quarter of 2011, it cost $49.23. Meat, flour, russet potatoes, apples and toasted oat cereal have all become pricier for consumers, according to the report, while just three items in the basket have gotten cheaper: whole milk, white bread and boneless chicken breasts.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury