The following is an excerpt from the author’s June 14, 2022, testimony before the Pennsylvania House Majority Policy Committee.
The story of food prices is getting worse.
Food prices in May 2022 were 10.1% higher than prices in May 2021. Prices for this food have not been seen for more than 40 years and occur in the food sector, ranging from fresh vegetables (8.5%) to fish and seafood (12.2%). .
Over the past nine months, year-on-year food price increases have been up 4%, with each consecutive month higher than the previous month — starting at 4.6% in September and up 10.1% in May.
This information can make the situation appear academic and non-personal. But don’t get me wrong, skyrocketing food prices are a problem for the United States and their families.
For many of us, going to the grocery store is where I really feel this broken inflation. We see the big price tag of our food on the checkout line and then we do a head count to determine what else we might be sacrificing financially because now we have a high food bill.
For low-income Americans, this situation is particularly troubling. The skyrocketing food prices are recurring and particularly detrimental, as they contribute significantly to their post-food income tax compared to high-income Americans.
Their business may not give up on a movie night or go out for dinner. It may be worse, such as not going to the doctor or running the refrigerator.
During the height of the COVID-19 disaster, the Trump administration and the government at all levels recognized that the elimination of harmful government regulations and other negative interventions was critical to allowing the chain of sustainable food supplies to adapt and provide Americans with the food they need.
But things have changed dramatically. Instead of removing obstacles, the Biden administration is creating an endless stream of legal challenges against the economy, including energy and labor.
The power struggle is one of the biggest culprits in raising food prices. Energy is an integral part of the economy, including the food sector. From turning off lights and working machines to loading goods, energy is key to the food supply chain.
It is also important for the food supply chain in ways that do not appear to be visible. For example, high energy prices increase the cost to farmers to access essential agricultural products — such as fertilizer.
More than 57% of the fertilizer used in the United States is nitrogenous, and an important proposition for nitrogenous fertilizers is natural gas, which accounts for 70% of production value. When fertilizer prices go up, that increased cost could indicate food prices.
Energy prices as a whole now rose 34.6% in May, the eighth consecutive month above 25%. For oil in particular, based on the latest Energy Information Management data, the price of regular retail gas has more than doubled (up 109%) since President Joe Biden took office, with the average price per gallon being $ 5.01 at the end of the week. June 13, 2022. This puts its weight on the food sector, in the same way as it puts pressure on our gas pump bags.
However, instead of developing policies that actually address energy costs (and despite some of its rhetoric), the Biden administration is imposing new authorization requirements that hinder energy production and send a signal very clear oil and gas companies that do not want their factories even exist.
Food prices are also exacerbated by labor shortages and government-sponsored activities that increase labor costs.
There are 11.4 million job openings, which is 50% higher than the pre-disaster record, which translates to 1.9 jobs available for every unemployed worker. According to a survey by the National Association of Independent Businesses in May 2022, the top 51% of employers said open work could not be filled.
These barriers to employment are hurting the food sector and many other industries. For example, the fast food industry has experienced a shortage of jobs and is offering significant bonuses to attract potential workers. Just wander through any city and one will quickly see the popular ads of restaurant window staff, making the scarcity easily visible.
There are also many other challenges specific to the food and agriculture sector which are keeping costs at bay. Controversial obligations on Moroccan fertilizers are raising fertilizer prices. And with the popular federal sugar program deliberately raising sugar prices by limiting the supply of sugar to be sold domestically, consumers will spend up to $ 3.7 billion a year.
There are also many unwanted food labeling rules, including menu labeling rules for restaurants, grocery stores, movie theaters, and other businesses; and there are environmental regulations that harm farmers and pastoralists.
For example, the Biden administration is developing a law to define what water is governed by the Clean Water Act, known as the “United States Water Act,” even as the U.S. Supreme Court hears a fall lawsuit. that could make any new rule.
This is a difficult time for all Americans. The current inflation acts as a tax for all of us, and is hurting the quality of our lives.
Policymakers at various levels of government should focus on eliminating excessive government interference in raising prices, including food prices. Instead of triggering inflation, policymakers need to eliminate contributing policies.
This episode originally came from The Daily Signal
The country produced only 74,000 barrels per day (b / d) of petroleum and other liquids. Ukraine imports most of its oil from Belarus, Russia, and Germany. Imported crude oil imports, increasingly imported from Azerbaijan and Kazakhstan, provide Ukraine’s only refining plant, the Kremenchug center.
Is Russia’s military powerful?
Russia has a strong air and sea force. In 2021, Russia had the world’s fifth-largest military expenditure of $ 65.9 billion.
Why are Russian troops so weak? Read also : East Austin Food Truck Big Mama’s Soul Food Preserves Tradition in a Changing City.
Who has a stronger military US or Russia?
In short, Russia ranks second out of 140 military powers, while the United States ranks first. According to troop numbers, Russia has 142,320,790 troops while the United States has 334,998,398 troops. The available workforce is 69,737,187 with Russia and 147,399,295 with the United States.
Does Russia have the biggest military?
How is the size of the army â € “comparable? The Russian military has an estimated 1. Read also : Four major food trends highlighted in BEMA 2022.5 million armed forces – five times more than those in Ukraine including 311,000 armed, according to 2019 data from the International Institute for Strategic Studies published by the World Bank.
Which is the most self-sufficient country?
| Honor | Country | Share (%) |
|---|---|---|
| 1 | Norway | 50.1 |
| 2 | Belgium | 50.6 |
| 3 | Haiti | 51.0 |
| 4 | Somalia | 52.4 |
Is there a self-sufficient country? In fact none of the 193 UN member states in the world, or other countries, land and dependency, are fully self-sufficient, which means they produce everything their people need. are within their boundaries. Read also : The Food Guy: ambitious menu, creative cocktails at the new Bronzeville restaurant. To find the most affordable countries in the world, 24/7 Wall St.
Which state is the most self-sufficient?
To determine where Americans are the most trusted, though coronavirus, WalletHub compared the 50 states based on five sources of dependence: consumer economy, government, labor market, global trade, and malnutrition. personal.
What was the crisis between Russia and Ukraine?
Relations between the two countries became strained after the Ukrainian uprising in 2014, following Russia’s annexation of Crimea from Ukraine, due to Russia’s support for separatist fighters in the Donetsk People’s Republic and the People’s Republic. Luhansk in war, resulting conflict killed more …
When did Russia invade Ukraine? On February 24, 2022, Russia invaded Ukraine with the escalation of the Russo-Ukrainian war that began in 2014. That invasion caused the largest refugee crisis in Europe since World War II, with more eight million Ukrainians fled the country and a third were displaced.
Was Ukraine part of the Soviet Union?
Ukraine experienced a short period of independence in 1918â € “but parts of western Ukraine were ruled by Poland, Romania, and Czechoslovakia during the two world wars, after which Ukraine became part of the Soviet Union. as the Soviet Soviet Socialist Republic (S.S.R.).
