Mover Mike

Money and Markets reported on the 17th

The USDA dropped a bombshell last week — reporting that U.S. wheat stockpiles may fall to the lowest level in 59 years!

Global stockpiles have already fallen to 26-year lows. World stocks of grain — that is, the food held in reserve for times of emergency — are now sufficient for just over 50 days.

[…]

The USDA estimates overall food price inflation will run 3% to 4% in 2008.

Each month the government publishes it’s CPI. The CPI shows inflation, using the core rate, is tamed, but the core rate strips out food and energy, and you know that OIL is almost $90 per barrel. Now we have the USDA warnings.

Here’s what Domino’s Pizza Inc (DPZ) CEO David Brandon said during a conference call.

While international same-store sales rose 8.3 percent, higher labor, food and packaging costs along with weak consumer spending hurt domestic sales.

But there is no inflation!

Wheat Inflation Domino’s Pizza Inc (DPZ)

Tags: Inflation //
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