Report: Farm, Food Prices Rise Under Net-Zero Climate Rules

Farmer Working

Farms and families will pay significantly more under the Biden administration’s net-zero climate policies, a new report from an Ohio-based policy group says.

The Buckeye Institute’s Net-Zero Climate-Control Policies Will Fail the Farm shows farmers will see a 34% rise in operational costs under the policies and family grocery bills will increase 15% based on modeling.

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Independence Day Cookout Spending to Hit Record High Amid Inflation

Individual spending on Fourth of July food items has risen to $93.34 on average across the U.S., the highest the National Retail Federation (NRF) has recorded since it began collecting this information in 2003.

The cost of one person’s July Fourth foods rose about 10 percent over the past year from $84.12, according to NRF. Inflation remained twice as high as the Federal Reserve’s target in May, according to a Labor Statistics (BLS) report, and the price of energy and food increased 4.0 percent on an annual basis last month.

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Food Prices Hit 40-Year High, Keep Breaking Records Every Month

Food prices have increased every month of 2022, with each month since February breaking 40-year records, according to data from the Bureau of Labor Statistics (BLS).

The price of food at home increased 13.5% year-over-year in August, the highest it’s been since May 1979, according to the BLS Consumer Price Index (CPI) report. Since February, when the year-over-year cost of food at home increased by 8.6% — at the time the highest level since 1981 — grocery prices have increased every month, first breaking a 10% year-on-year increase in March, according to archived CPI reports by the BLS.

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Feds: Food Prices Continued to Surge in July, but Overall Inflation Held Steady

Consumer prices remained high in July but showed only a slight increase from June, a pause from months of surging prices.

The Bureau of Economic Analysis Friday released the Personal Consumption Expenditure Index data, a key marker of inflation closely watched by the U.S. Federal Reserve when it makes its interest rate decisions.

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As Food Prices Soar with No End in Sight, Americans Change Habits

Americans are changing their shopping habits because of soaring food prices. And disruptions in the international farming community have some worried about the food supply heading into 2023.

The BMO Real Financial Progress Index, a quarterly survey from BMO and Ipsos, shows that 42% of surveyed adults “are changing how they shop for groceries,” including “opting for cheaper items, avoiding brand names and buying only the essentials.”

The report found “46% are either dining out less or consciously spending less when dining out.”

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Portman Slams Biden After President Blames Republicans for Record Inflation

A U.S. Senator from Ohio Tuesday slammed President Joe Biden for record gas prices and sky-high inflation after Biden blamed Republicans, despite the fact that Democrats control both chambers of Congress and the White House. 

“The Biden admin & its policies are responsible for the soaring inflation we see today. Inflation has risen every single month since [Biden] took office. The admin’s reckless spending policies combined with increased regulation have caused the worst inflation in 40 years,” Sen. Rob Portman (R-OH) said. 

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Commentary: Biden’s Handlers Are Preparing to Eject Him and Kamala

I sense a disturbance in the force. In fact, I’ve been feeling the tremors for a while. Back in January, I wrote a column for American Greatness called “The Coming Dethronement of Joe Biden.” In it, I noted that Biden’s appalling performance as president would sooner or later—and probably sooner, given the ostentatious nature of his multifaceted failure—lead to his removal as president. 

I should have added that it wasn’t Biden’s performance per se that would lead to his downfall. The problem, rather, was the way his performance was undermining his—and therefore his minders’ and puppetmasters’—political power. As Saul Alinsky, community organizer to the stars, noted, the “issue is never the issue.” Accordingly, the people who put Joe Biden in power—I cannot name them, but I know they are the same people who keep him in power—do not care about inflation, rising gas and food prices, COVID lockdowns or mask mandates, the porousness of our Southern border, the threat of war with Russia, or the myriad other issues that worry ordinary voters. I am quite certain, in fact, that the word “voters” brings a vaguely contemptuous smile to their faces.

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Farms Fail as Fertilizer Prices Soar

Blue tractor in a field, fertilizing the land

Soaring fertilizer prices across the globe have impacted farmers making it more expensive to produce food and forcing them to cut back on production, The Wall Street Journal reported.

Diammonium phosphate, or DAP, a common component of fertilizer, cost $745 per metric ton in December 2021, more than double its average 2020 price, the WSJ reported.

Higher fertilizer costs could translate into increased food prices in the next year, worsening global hunger after the pandemic caused massive job losses and further growing inflation, the WSJ reported.

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More Americans Than Ever Say They Won’t Be Buying Christmas Gifts This Year

A record number of Americans say they won’t be purchasing gifts for the holidays this year amid ongoing inflation concerns and supply chain disruptions, a survey shows.

Roughly 11% of Americans said they expected to spend no money at all on gifts during the holiday season, according to a holiday retail survey by Deloitte. The number is the highest since Deloitte began its holiday retail survey in the 1980s and more than double the share of shoppers in 2020 who said they wouldn’t be buying presents.

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