The Patriot Post® · Why Food Inflation Is Ignored


https://patriotpost.us/articles/27273-why-food-inflation-is-ignored-2014-07-08

Policymakers talk a lot about inflation, but often that discussion doesn’t include food prices. As the Wall Street Journal notes, central bankers “sometimes look past food-price increases that appear temporary or isolated while trying to control broad and long-term inflation trends, not blips that might soon reverse.” The question is, why? It boils down to this: Middle class Americans’ focus is on “delivering the life they want to those they care for,” explains Ben Domenech of The Federalist. “But when they look to government, they don’t see interest in that. Politicians insist that inflation is under control, just so long as you don’t include food, education, health care, housing, or energy, so it’s time to start focusing on More Important Things. You wanted cheeseburgers? Well, the Fed thinks it’s fine if you settle for chicken.” If we want change, we’ll need “a willingness to go after those policies, and for a few smart politicians to start rejecting the priorities of the boardroom table in favor of the kitchen table.” More…