Headline: U.S. Food Inflation Spiraling Out of Control

Folks, this has been predictable. It is highly disturbing, but this has been inevitable. The good folks at the National Inflation Association (their reason for being is to prepare Americans for hyperinflation) brought forth this headline on their website yesterday. They reported this:

"

The Bureau of Labor Statistics (BLS) today released their Producer Price Index (PPI) report for March 2010 and the latest numbers are shocking. Food prices for the month rose by 2.4%, its sixth consecutive monthly increase and the largest jump in over 26 years. NIA believes that a major breakout in food inflation could be imminent, similar to what is currently being experienced in India.

Some of the startling food price increases on a year-over-year basis include, fresh and dry vegetables up 56.1%, fresh fruits and melons up 28.8%, eggs for fresh use up 33.6%, pork up 19.1%, beef and veal up 10.7% and dairy products up 9.7%. On October 30th, 2009, NIA predicted that inflation would appear next in food and agriculture, but we never anticipated that it would spiral so far out of control this quickly.The PPI foeshadows price increases that will later occur in the retail sector."

As I said, highly disturbing, but this has been inevitable. When helicopter money rains down, these things happen. How to hedge? Buy gold. Gold supply and demand is the headline to watch going forward. Protect yourself! Buy gold! Buy silver!