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Food Prices

August 24, 2012 | By Ricardo Lopez
The price of food items such as beef, pork and dairy products is expected to stay high through the end of the year and into 2013, according to a U.S. Department of Agriculture forecast released Friday. The Midwest drought, the worst in decades, has driven up corn and soybean prices, which, in turn, caused retail food prices to rise. The July's food price outlook, compiled monthly by the USDA, was largely unchanged from the month before, forecasting the price of all food to rise between 2.5% and 3.5% through the end of the year.
February 20, 2014 | By Jim Puzzanghera
WASHINGTON -- Consumer prices barely budged last month, a slowdown that showed inflation was well in check to start the year -- and maybe running too low. The consumer price index rose 0.1% in January, down from the 0.2% increase the previous month, the Labor Department said Thursday.  During the 12 months ending in January, prices increased 1.6%. That was the same annual rate as in December and below the Federal Reserve's target of 2%. PHOTOS: Federal Reserve chairs through the years January's small price increase was in line with analyst expectations.
August 24, 2012 | By David Lazarus
Here is today's Consumer Confidential segment from KTLA. Topped things off with latest word from the feds on food prices (they're going up). Also looked at how people are taking pay cuts to land new jobs, and the average $15(!) weekly allowance kids now receive.  
November 20, 2013 | By Jim Puzzanghera
WASHINGTON -- Consumer prices unexpectedly dipped last month, the first decline since the spring, driven by lower gasoline costs, the Commerce Department said Wednesday. The Consumer Price Index fell a seasonally adjusted 0.1% in October from the previous month. The index had risen 0.2% in September and economists projected it would be unchanged last month. The index had not dropped since a 0.4% decline in April. QUIZ: How well do you understand the Fed stimulus? Over the previous year, prices were up just 1%. That was the smallest 12-month increase since October 2009, the Commerce Department said.
June 7, 2012 | By Tiffany Hsu
The price of food around the world slid in May for the second month, tumbling the most since March 2010. An index calculated by the United Nations' Food and Agriculture Organisation tumbled to 203.9 in May from 213, a 4% slide. That's the lowest level since September 2010 and the steepest fall since March 2010. From the index's peak in February, it's a 14% plunge. Harvesters delivered excess supply amid a stronger dollar and growing economic instability around the world.
April 1, 1998
Re "Officials Shop for a Solution to High Food Prices," March 22. I consider this article disgusting, pitiful and unworthy. Who is this reporter, anyway? Who was his editor? Is it true that neither one knew that the economic system in the USA is based on the law of supply and demand? Why then are they allowed to write for you, and to edit for you? That system simply recognizes that the seller acts to maximize his profit and the buyer acts to minimize his costs. The interaction between the two is what sets the price at which goods are traded.
November 15, 2012 | By Tiffany Hsu
Consumer prices continued to rise in October as rents and the cost of food climbed even as gas came down from its recent peak, the government said. Seasonally adjusted prices got a 0.1% boost in October from the previous month, according to the Labor Department. But the increase was smaller than the 0.6% surges in September and August. October's prices were up 2.2% from the year-earlier period. Quiz: How well do you know fast food? The cost of food went up 0.2% last month from September, according to the report, with meat, poultry, fish, eggs, fruits and vegetables all experiencing price hikes.
March 11, 2010 | By P.J. Huffstutter
For 40 years, farmer Todd Leake and his family have battled bitter cold, hungry pests and a short growing season to coax soybeans out of their fields in eastern North Dakota. The one thing they never had to fight for, though, was their seeds. A decade ago, salesmen from as many as 50 seed companies would compete for their dollars. Each would promise healthier plants, richer yields or a better discount. Today the Leakes have little choice: There are four seed companies in their area, and all sell seeds that include genetic traits patented and licensed by Monsanto Co., the world's largest seed firm.
August 30, 2012 | By Ricardo Lopez
Global food prices jumped 10% in July from the month before, driven up by the severe Midwest drought which has pushed the price of grains to record levels, the World Bank reported Thursday. The price of maize and wheat rose by 25% from June to July, and soybeans rose by 17%, according to the Washington-based organization. Overall, the World Bank's Food Price Index, which tracks the price of traded food commodities, was 6% higher than July of last year. The sharp price jumps are attributed to the Midwest drought, which has destroyed more than half of the country's corn crop.
August 24, 2012 | By Ricardo Lopez, Los Angeles Times
The price of food items such as beef, pork and dairy products is expected to stay high through 2013, according to a U.S. Department of Agriculture forecast released Friday. The Midwest drought, the worst in decades, has driven up corn and soybean prices, which, in turn, is causing retail food prices to rise. The food price outlook, compiled monthly by the USDA, was largely unchanged from the month before, forecasting the price of all food to rise 2.5% to 3.5% through the end of the year.
November 1, 2013 | By Michael Muskal
WASHINGTON--More than 47 million Americans who receive food stamps awoke on Friday to deal with the harsh reality that their benefits will decrease because emergency payments from the federal government to stimulate the economy have expired. That decrease, which works out to about $36 a month for a family of four, could be just the first step in food allowance cuts. Congress is currently debating how to fund what is now called the Supplemental Nutrition Assistance Program, or SNAP, with Republicans seeking sharp reductions in the rapidly growing program.
September 27, 2013 | By Mary MacVean
Anya Von Bremzen makes her living writing about some of the most wondrous food in the world. It's a remarkable career for a woman born in 1963 Moscow, an era of bread lines and making do. Her new book, “Mastering the Art of Soviet Cooking: A Memoir of Food and Longing” (Crown, $26), turns a bittersweet eye and an intelligent heart on Soviet history through food. It's her own history and her mother's, beautifully told. Von Bremzen, now a resident of New York and the author of five cookbooks, talked about the book with The Times.
June 18, 2013 | By Jim Puzzanghera
WASHINGTON -- Consumer prices rose in May for the first time in three months, but the increase was small and inflation over the past year remained tame, the Labor Department said Tuesday. The consumer price index rose a seasonally adjusted 0.1% last month after dropping 0.4% in April and 0.2% in March. The so-called core inflation figure, which excludes volatile food and energy costs, rose 0.2% in May after a 0.1% rise the previous month. Over the previous 12 months, prices rose 1.4% on all goods and 1.7% excluding food and energy costs.
June 14, 2013 | By Shan Li
Wholesale prices in the U.S. grew last month, pushed up slightly by rising food and gas costs. The producer price index - or changes in prices over time that U.S. producers can get for their goods --  climbed 0.5% in May compared to April, the Labor Department said Friday. That jump can be attributed to a 1.5% rise in gas costs and a 0.6% increase in food prices. Aside from volatile gas costs, inflation in wholesale and consumer goods has only slowly edged up over the last year.
May 15, 2013 | By Jim Puzzanghera
WASHINGTON -- Big drops in the cost of food and energy pushed wholesale prices down 0.7% in April, the largest monthly decline in more than three years, the Labor Department said Wednesday. The slide in the producer price index, the largest since February 2010, followed a 0.6% drop in March. Gasoline prices, which have dropped significantly this year, sank 6% in April after tumbling 6.8% in March. Quiz: Test your knowledge about the debt limit Overall, wholesale energy prices dropped 2.5% in April after a 3.4% decline in March.
March 15, 2013 | By Jim Puzzanghera
WASHINGTON -- Fueled by the rising cost of gasoline, consumer prices jumped 0.7% in February for the biggest increase in more than three years, the Labor Department said Friday. The sharp rise in consumer costs last month, which exceeded analyst expectations, could stoke inflation concerns as economic growth strengthens. Prices now have risen 2% over the past year, the target the Federal Reserve has set for an acceptable inflation rate. Prices were up 1.6% in the previous 12-month period.
July 25, 2012 | By Ricardo Lopez, Los Angeles Times
  California might not be dry as a bone, but with the drought throughout most of the rest of the nation, it might as well be. The drought is pushing up the cost of meat and milk and other dairy products for the state's consumers. That's because the cost of feed for California cattle, poultry and hog farmers is soaring as Midwest farms face a shortage of corn and soybean - key feed ingredients. The higher prices won't hit the grocery shelves for a few months, but when they do, consumers will be paying 10% to 15% more for milk, beef and poultry, farmers and economists said.
July 12, 1988
It doesn't take a Nostradamus to predict the upcoming consumer rip-off by the food industry. Using the present drought as a reason, breads, cereals, pastas, flours, and all other grain containing foods will increase in price far more than the higher basic grain price resulting from the drought justifies. Take wheat for example; even if its price on the Chicago exchange doubles from the early year $3 a bushel to $6, that is only a 6-cent per pound increase! I'm sure we pay more for the packaging than the contents of a 10-ounce box of cereal.
February 22, 2013 | By Tiffany Hsu, Los Angeles Times
When Junior's Deli closed in late December, longtime customers lined up for a last, nostalgic nosh at the 53-year-old Westside institution. But Brian Won's main reaction was "meh. " "The food was unremarkable," said the West Los Angeles IT specialist, 32, who visited to use up a Groupon voucher. "Given that there are so many good places to eat in L.A., I have a really hard time saying yes to that. " Increasing apathy, particularly from younger patrons, has driven traditional Jewish delicatessens from their mid-century pinnacle.
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