Blog Posts tagged with: summer
We start 2009 licking our collective wounds, and it has little to do with New Year’s celebrations or the Detroit Lions.
Michigan is an economic basket case, with nearly 1 in 10 residents out of work. While it is too soon to talk about Armageddon, once-comfortable suburbanites are starting to feel the pinch and making changes that for legions of Depression-era families was second nature.
They are growing their own food.
A typical family of four growing all its vegetables and using canned and frozen vegetables from the garden can save hundreds of …
Corn prices have plummeted by more than 50 percent over the past six months, while food prices are up 6 percent for the year, according to data released recently by the Bureau of Labor Statistics.
At the same time, energy costs fell 17 percent and transportation expenses dropped 10 percent in November.
“The truth is corn prices have almost no effect on grocery store prices, and apparently even the impact of fuel costs is minimal,” said Randy Woodruff, president of the Wisconsin Corn Growers Association, in a press release.
Falling food costs and a prolonged recession may tempt restaurant chains into a wave of discounts next year, leaving potential profits on the table.
With prices for many food items and fuel hitting record highs this summer, restaurants were forced to raise the prices of their dishes beyond historical norms, producing a bitter proposition for customers watching the values of their homes and investment portfolios shrink.
Now, with food inflation expected to ease next year and the price of oil already in freefall, analysts will be watching whether restaurants can hold onto …
Gas prices in the Tampa Bay area are down a stunning 60 percent over the past five months.
So where’s the trickle down?
As gas prices peaked in the summer, the nearly $150 tab for a barrel of oil was the prime suspect in everything from spiking airfares and surging food costs to announcements of much higher electric bills in 2009.
As oil prices have receded, however, the impact has been decidedly muted. Airfares have ticked down only slightly, and most local electric bills will still climb steeply in January.
The most glaring disconnect …
