By Jeffrey Cohen, Investment Advisor Representative
US Advanced Computing Infrastructure, Inc.
Food and energy prices rose dramatically today. This, along with a 2 or 4 cent increase in the wholesale price of gasoline today, means a much higher food bill for regular Americans. Think about sugar, wheat, orange juice, cocoa, cotton, coffee, lumber, gasoline, heating oil, natural gas, ethanol, pork and beef all becoming significantly more expensive in one day.
We need to fix this. When inflation is running at 8.5%, but coffee goes up 5.38% in one day, inflation is set to rise faster and farther than we expect. Most average Americans don't follow the futures markets and will only feel the sting of higher prices at their next grocery store visit.
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