Poverty levels rise along with food prices

Tuesday, November 1, 2011

The number of Americans living in poverty climbed to 15.1 per cent in 2010, the highest level in 52 years according to a report released by the U.S. Census Bureau. That's 46.2 million Americans. The poverty line is marked as a family of four living at US$24,314 or less. Meanwhile, the Consumer Price Index in the United States rose 5.4 per cent in July of this year compared to July 2010, with the price of meats, poultry, eggs and fish rising 7.4 per cent.

DairyHerd Network reports that, in August, fresh whole milk at retail averaged US$3.71 a gallon, up 12 per cent from a year before.  Bacon, at $4.77 a pound, was up 42 cents from a year earlier. Retail beef sales measured in pounds were down nine per cent compared to August 2010. The total U.S. cattle inventory at July 1 was at an all-time low and even higher prices were predicted. BF