Why aren't food prices dropping like oil & gasoline?

[Remodeling Maidiac]

Filling up for almost 25% less at the pump but food prices remain high. What gives

 

[Moonglow]

Chicago price index for trades and trading...

 

[Toddsterpatriot]

Why would they?

 

[High_Gravity]

I wish they would.

 

[Remodeling Maidiac]

Why would they?

Because A LOT of the cost is the transportation of the product.

 

[Toddsterpatriot]

Why would they?

Because A LOT of the cost is the transportation of the product.

The food at the stores has already been transported.

 

[Remodeling Maidiac]

Why would they?

Because A LOT of the cost is the transportation of the product.

The food at the stores has already been transported.

????

 

[Toddsterpatriot]

Why would they?

Because A LOT of the cost is the transportation of the product.

The food at the stores has already been transported.

????

If your cereal cost $1 to deliver to the store, a month ago, why would the price fall if new cereal only cost $0.75 to deliver next week?

 

[AceRothstein]

Obama hasn't lowered the prices yet. I'm not sure what he's waiting for.

 

[PratchettFan]

Filling up for almost 25% less at the pump but food prices remain high. What gives

Depends on the food. California is one of the biggest growers of produce and they are undergoing a drought that is impacting crops. I would expect costs to go up.

 

[Remodeling Maidiac]

Why would they?

Because A LOT of the cost is the transportation of the product.

The food at the stores has already been transported.

????

If your cereal cost $1 to deliver to the store, a month ago, why would the price fall if new cereal only cost $0.75 to deliver next week?

Because it should. Grocers claimed the high prices were due to fuel costs so naturally when those prices drop the cost of the products they purchase have less overhead attached to them. Hence the cost to the consumer should also drop.

 

[Moonglow]

Obama hasn't lowered the prices yet. I'm not sure what he's waiting for.

Socialism!

 

[AquaAthena]

Same with the price of air travel. High ticket prices still in force.

 

[Moonglow]

Why would they?

Because A LOT of the cost is the transportation of the product.

The food at the stores has already been transported.

????

If your cereal cost $1 to deliver to the store, a month ago, why would the price fall if new cereal only cost $0.75 to deliver next week?

Because it should. Grocers claimed the high prices were due to fuel costs so naturally when those prices drop the cost of the products they purchase have less overhead attached to them. Hence the cost to the consumer should also drop.

Have you lowered your bids?

 

[AceRothstein]

Obama hasn't lowered the prices yet. I'm not sure what he's waiting for.

Socialism!

Obama is the worst socialist ever, that's for sure.

 

[Remodeling Maidiac]

Most of the produce we buy comes from Idaho & local farmers. While conditions in other areas can still reflect local prices gasoline & oil a remain large factors. Pork & poultry are still exceptionally high here

 

[martybegan]

Why would they?

Because A LOT of the cost is the transportation of the product.

The food at the stores has already been transported.

????

If your cereal cost $1 to deliver to the store, a month ago, why would the price fall if new cereal only cost $0.75 to deliver next week?

Because it should. Grocers claimed the high prices were due to fuel costs so naturally when those prices drop the cost of the products they purchase have less overhead attached to them. Hence the cost to the consumer should also drop.

They already paid their supplier for their stock, they are not going to get a refund. Prices drop gradually, and they usually also rise gradually, however since rising prices are bad we tend to notice that quicker than prices going down.

 

[Remodeling Maidiac]

Because A LOT of the cost is the transportation of the product.

The food at the stores has already been transported.

????

If your cereal cost $1 to deliver to the store, a month ago, why would the price fall if new cereal only cost $0.75 to deliver next week?

Because it should. Grocers claimed the high prices were due to fuel costs so naturally when those prices drop the cost of the products they purchase have less overhead attached to them. Hence the cost to the consumer should also drop.

They already paid their supplier for their stock, they are not going to get a refund. Prices drop gradually, and they usually also rise gradually, however since rising prices are bad we tend to notice that quicker than prices going down.

I don't think you realize how fast "stock" gets replaced.
I bough eggs & bacon on my last trip & their prices are still the same or higher. Near 6 to 7 dollars for one package of bacon. That is double what I was paying before the gas prices shot up to near 4 bucks a gallon

 

[Toddsterpatriot]

The food at the stores has already been transported.

????

If your cereal cost $1 to deliver to the store, a month ago, why would the price fall if new cereal only cost $0.75 to deliver next week?

Because it should. Grocers claimed the high prices were due to fuel costs so naturally when those prices drop the cost of the products they purchase have less overhead attached to them. Hence the cost to the consumer should also drop.

They already paid their supplier for their stock, they are not going to get a refund. Prices drop gradually, and they usually also rise gradually, however since rising prices are bad we tend to notice that quicker than prices going down.

I don't think you realize how fast "stock" gets replaced.
I bough eggs & bacon on my last trip & their prices are still the same or higher. Near 6 to 7 dollars for one package of bacon. That is double what I was paying before the gas prices shot up to near 4 bucks a gallon

As Pig Virus Spreads The Price Of Pork Continues To Rise The Salt NPR

 

[Syriusly]

Filling up for almost 25% less at the pump but food prices remain high. What gives

A couple of things- listened to a farmer being interviewed about it- first of all most of the food on the shelves now was produced when gas prices were higher.

Secondly- there are issues like a pig disease which are reducing supply, while demand keeps increasing.