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Discussion and Debate
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The Wheels of Justice Grind Slowly
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<blockquote data-quote="Say it aint so" data-source="post: 77171939" data-attributes="member: 428888"><p>The point of raising rates was to slow the economy given inflation, that includes housing because <a href="https://www.marketplace.org/2023/03/14/housing-costs-are-a-main-reason-inflation-is-still-high/" target="_blank">"Housing costs are a main reason inflation is still high</a>" . Why? Because we just experienced this, <a href="https://www.cnn.com/2021/06/16/homes/us-housing-market-offers/index.html" target="_blank">"The housing market is so hot buyers are paying $1 million over asking price"</a> What the article indicates is, it's working. Yet despite that, the economy hasn't cooled enough.</p><p></p><p>Your other article regarding on why groceries are so expensive notes, to quote:</p><p></p><p style="margin-left: 20px">Analysts say that there’s no straight answer on when grocery prices will drop as it relies on a number of factors, including post-pandemic consumer demand, ongoing supply chain shortages, geopolitical events such as the war in Ukraine, and unstable weather patterns.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">A dozen grade A eggs cost, on average, $4.25 in December—making it the grocery stable with the largest year-over-year price increase. This is largely attributed to the ongoing avian bird flu epidemic, in which nearly <a href="https://www.aphis.usda.gov/aphis/ourfocus/animalhealth/animal-disease-information/avian/avian-influenza/hpai-2022/2022-hpai-commercial-backyard-flocks" target="_blank">58 million birds</a> have been infected as of January 6—the deadliest outbreak in U.S. history.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">Chicken meat prices have also increased by 10.9% from the year prior as a result of the avian flu. Farmers have since tried to increase production, and USDA <a href="https://www.ams.usda.gov/mnreports/pywretailchicken.pdf" target="_blank">data</a> shows certain cuts are seeing decreased prices.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">Dairy farmers say extreme heat and smaller cow herds—the result of pandemic financial struggles—are the main reasons behind the price increase for butter. Higher energy and fertilizer costs are also impacting how much Americans are paying for butter.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">Fresh fruits and vegetables have also seen price increases, though lettuce is undoubtedly the biggest culprit, increasing 24.9% in the last twelve months. Romaine lettuce costs just over 9% more than it did a year ago. </p> <p style="margin-left: 20px">Dry weather conditions and an insect-borne virus have damaged crops in California’s Salinas Valley, where much of the country’s lettuce is grown in the winter months.</p> <p style="margin-left: 20px"></p><p>What I read here from your article is demand, the bird flu, and weather as why groceries store prices are so expensive. Yes, the job numbers coming out of covid where the jobs that pandemic effected the most were jobs within leisure and hospitality. One shouldn't be surprised of the rebound that is still occurring.</p><p style="margin-left: 20px"></p></blockquote><p></p>
[QUOTE="Say it aint so, post: 77171939, member: 428888"] The point of raising rates was to slow the economy given inflation, that includes housing because [URL='https://www.marketplace.org/2023/03/14/housing-costs-are-a-main-reason-inflation-is-still-high/']"Housing costs are a main reason inflation is still high[/URL]" . Why? Because we just experienced this, [URL='https://www.cnn.com/2021/06/16/homes/us-housing-market-offers/index.html']"The housing market is so hot buyers are paying $1 million over asking price"[/URL] What the article indicates is, it's working. Yet despite that, the economy hasn't cooled enough. Your other article regarding on why groceries are so expensive notes, to quote: [INDENT]Analysts say that there’s no straight answer on when grocery prices will drop as it relies on a number of factors, including post-pandemic consumer demand, ongoing supply chain shortages, geopolitical events such as the war in Ukraine, and unstable weather patterns.[/INDENT] [INDENT][/INDENT] [INDENT]A dozen grade A eggs cost, on average, $4.25 in December—making it the grocery stable with the largest year-over-year price increase. This is largely attributed to the ongoing avian bird flu epidemic, in which nearly [URL='https://www.aphis.usda.gov/aphis/ourfocus/animalhealth/animal-disease-information/avian/avian-influenza/hpai-2022/2022-hpai-commercial-backyard-flocks']58 million birds[/URL] have been infected as of January 6—the deadliest outbreak in U.S. history.[/INDENT] [INDENT][/INDENT] [INDENT]Chicken meat prices have also increased by 10.9% from the year prior as a result of the avian flu. Farmers have since tried to increase production, and USDA [URL='https://www.ams.usda.gov/mnreports/pywretailchicken.pdf']data[/URL] shows certain cuts are seeing decreased prices.[/INDENT] [INDENT][/INDENT] [INDENT]Dairy farmers say extreme heat and smaller cow herds—the result of pandemic financial struggles—are the main reasons behind the price increase for butter. Higher energy and fertilizer costs are also impacting how much Americans are paying for butter.[/INDENT] [INDENT][/INDENT] [INDENT]Fresh fruits and vegetables have also seen price increases, though lettuce is undoubtedly the biggest culprit, increasing 24.9% in the last twelve months. Romaine lettuce costs just over 9% more than it did a year ago. [/INDENT] [INDENT]Dry weather conditions and an insect-borne virus have damaged crops in California’s Salinas Valley, where much of the country’s lettuce is grown in the winter months.[/INDENT] [INDENT][/INDENT] What I read here from your article is demand, the bird flu, and weather as why groceries store prices are so expensive. Yes, the job numbers coming out of covid where the jobs that pandemic effected the most were jobs within leisure and hospitality. One shouldn't be surprised of the rebound that is still occurring. [INDENT][/INDENT] [/QUOTE]
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