Companies Raise Prices as Commodity Costs Jump

[FreeStateDemocrat]

Source: NY Times

By STEPHANIE CLIFFORD, MOTOKO RICH and WILLIAM NEUMAN
Published: February 14, 2011


A package of Oscar Mayer cold cuts. A pair of Nine West boots. A Whirlpool washing machine.

Cotton prices are near their highest level in more than a decade, after adjusting for inflation, and leather and polyester costs are jumping as well. Copper recently hit its highest level in about 40 years, and iron ore, used for steel, is fetching extremely high prices. Prices for corn, sugar, wheat, beef, pork and coffee are soaring. Labor overseas is becoming more expensive, meanwhile, and so are the utility bills to keep a factory running.

“There are cost pressures from virtually everywhere,” said Wesley R. Card, the chief executive of the Jones Group, whose brands include Nine West and Anne Klein. After trying to keep retail prices flat or even lower during the recession, Jones says prices for its brands will climb 15 to 20 percent by autumn.

When commodity prices started to rise last summer, many manufacturers and retailers absorbed the costs, worried that shoppers would not pay higher prices during the competitive holiday season or while the economy was still fragile.



Read more: http://www.nytimes.com/2011/02/15/business/15prices.html?_r=1&hp=&adxnnl=1&adxnnlx=1297774965-3cNB3AXXK8IfPjml3mzK6A

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According to the White House this will not cause an increase in inflation for working class families or Social Security recipients, but the rich will require another immediate tax cut to offset their increased burden.

BULLSHIT and MORE BULLSHIT!

[Tunkamerica]

1. rich people love cotton, and a billion dollars doesn't buy as many t-shirts as you'd imagine

probably a lot more

[FreakinDJ]

2. How do RATpubliCONs control Inflation - UNEMPLOYMENT

[leveymg]

3. Just a couple months ago the Wall St spinners were denying that retail inflation was possible. Wrong

Unfortunately, that is the same circle of economists who advise Obama inside the bubble. Anyone who actually has to to shop for a family has known that we're in an inflationary cycle and that necessities are getting more and more expensive, and that American middle-class incomes are not keeping up.

Just another way of sucking the last bit of profit out of America before formal Dollar devaluation. I'm tired of being lied to about what I can see with my own eyes.

If these f-ckers want a revolution, we'll give 'em one.

[Locrian]

4. commodities

Wait till they start playing with commodities as the next stock market bubble. Rich people like to play games with things like food. Who gives a fuck if a bunch of poor people starve when they can make a few million off of jacking the price up?

(do I really have to have a sarcasm tag here?)

[katnapped]

5. START playing?!?

Already doing it!

[madrchsod]

6. us corn surplus from 2009 sold to china

2010 corn yields down 10-15% in the corn belt

china,largest wheat grower in the world, is losing it wheat fields to drought..building thousands of wells to salvage crops.

floods in south east asia destroyed rice crop.

floods in Australia damaged/destroyed crops.

cattle stocks are down in the usa because of the sell off of breeder cattle due to high price.

it will take at least three years to rebuild to last years level.


food is going to go up with out speculation. but thanks to the democrats and republicans we won`t be able to keep up with the prices. i do know that`s there`s no shortage of salt so there will be enough food filler to you feel like you are full.