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My Average Food Inflation Is Over 12 Percent

By: Steve Johnson

2/14/2011 - 216 Comments

At the end of each year, I spend some time looking at my budget expenses over the last few years, looking for trends to help me with financial planning in the next several years.

Last year I wrote about several of my budget expenses, highlighting the major changes.

This year when I looked for trends, only one category really stuck out and that was food.  

The cost of food for my family has increased by an average of 12.08 percent over the last three years.

Keep in mind that my family contains three growing children and I’m sure they are a major part of my increasing food expenses, and I’m not sure how to quantify how much of the 12 percent is due to my growing children. 

At this rate of inflation, my food costs will exceed my mortgage payment and become my largest expense in just two years.

This is why I’m planning an even bigger garden this year and expanding the types of foods that I grow.  I’m also considering creating a planting schedule, so that I remember when to plant difference foods throughout the summer growing season.  I always seem to get confused and forget when I planted what. Then I over plant something or forget to plant something else. 

Years ago when I started gardening, it was much easier, I just planted once at the beginning of the summer.  But as time went on I realized that different foods grow better at different times of the year and some can be re-planted several times.  So this year I'm going to stop trying to remember everything and create a planting schedule.

Food prices are expected to continue to rise, due to an increase in natural disasters and an increase in printing money by central bank all around the world causing inflation.

The trend of food inflation looks like it will continue for many years.  Therefore the more food that I can grow the better, perhaps I could even learn to grow more food than I need so that I can barter with it or sell food at a local food co-ops or farmer market.

Food prices have already become a major budget item for my family regardless of the bogus inflation numbers published by the government.

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What Has Government Done to Our Money?

Rothbard gives us an exceptionally clear, detailed description of what money is and how it has come to be manipulated by governments and central bankers into almost worthless inflationary fiat paper currency. He then explains how gold became the most respected and trustworthy currency of choice and the prospect of either hyperinflation or the greatest depression the world has ever seen may be arriving in the very near future.

What You Should Know About Inflation

This book presents the Austrian theory of money in the clearest possible terms, and contrasts it with the fallacies of government management. Hazlitt takes on not only the Keynesians but also the monetarists, as well as anyone who believes that government debt accumulation and manipulation of interest rates are harmless. Hazlitt touches on a wide variety of macroeconomic topics, including budget and trade issues, as well as the economic history of inflation.

Gardening When It Counts: Growing Food in Hard Times

The decline of cheap oil is inspiring an increasing number of North Americans to achieve some measure of backyard food self-sufficiency. In hard times, the family can be greatly helped by growing a highly productive food garden, requiring little cash outlay or watering. This book shows any family with access to 3-5,000 sq. ft. of garden land can halve their food costs.

The Vegetable Gardener's Bible

Ed's system is based on W-O-R-D: Wide rows, Organic methods, Raised beds, Deep soil. With deep, raised beds, vegetable roots have more room to grow and expand. In traditional narrow-row beds, over half the soil is compacted into walkways while a garden with wide, deep, raised beds, plants get to use most of the soil. In Ed's plan, growing space gets about three-quarters of the garden plot and only about a quarter is used for the walkway. Ed takes a look at the individual growing, harvesting, and best varieties of a large number of both common and more exotic vegetables and herbs.