Bloomberg: Flour Prices Hits All-Time High: “$10 Bread is the New $5 Gas”: Will You Pay $20 per Loaf of Bread?

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Food manufacturers world wide telling us that they think their prices have reached the limits of consumers financial ability to buy. Food unit sales dropping everywhere. Down 6%. Huge for the stable grocery industry.

“But the cracks in demand are spreading to basic goods. Shoppers are skipping the bread aisle, with unit purchases from US grocers declining 2.7% over the past year through July 2, according to data from NielsenIQ. Americans have also bought less milk and eggs from retailers over the same period.”

And now the manufactured drought hits in perfect timing. Doom On.

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“It’s really hard because how high can you pay for a loaf of bread?” said owner Vincent Colombet. “Can you pay $20 for a loaf of bread? No. We are really squished between the hammer and the anvil.”

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CNN Poll: Most Americans are discontented with Biden, the economy and the state of the country

The summer of 2022 is a season of deepening and widespread discontent, according to a new CNN poll conducted by SSRS. The survey finds the public’s outlook on the state of the country the worst it’s been since 2009, while its view on the economy is the worst since 2011. And nearly 7 in 10 say President Joe Biden hasn’t paid enough attention to the nation’s most pressing problems.

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Biden’s approval rating in the poll stands at 38%, with 62% disapproving. His approval ratings for handling the economy (30%) and inflation (25%) are notably lower. Rising costs are a primary economic pressure for most Americans: 75% call inflation and the cost of living the most important economic problem facing their family. Last summer, that figure stood at 43%.


h/t Vituperate


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