Food Inflation Climbs and Senators Call for Energy Independence
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**Food inflation is up for the ninth straight month matching the U.S. inflation rate of 7.9% a year, with double-digit increases in the price of meat, milk, and fresh fruit, according to Thursday’s Consumer Price Index.
www.agriculture.com reports, prices for groceries rose even faster, 8.6%, than the overall food index, which includes food sold at restaurants.
The food index increase of 7.9% is the largest 12-month increase since July 1981.
www.agriculture.com/news/business/food-prices-rise-at-fastest-pace-in-41-years
**A group of Senators sent a letter to the President asking for approval of year-round E15 sales to restore American Energy independence.
Growth Energy CEO Emily Skor applauded the letter, saying the message from both sides of the aisle is clear, we need more homegrown, low-carbon solutions to shield American drivers from the continued oil market volatility.
She says biofuels are a ready solution to help provide consumers with lower prices at the pump.
**Senator Roger Marshall and Representative Tracy Mann introduced the Emergency Relief from Duties Act.
The bill would create emergency waivers for duties levied on fertilizers by the International Trade Commission.
National Corn Growers Association President, Chris Edgington says fertilizers have become increasingly hard to secure and pay for because of tariffs or the threat of tariffs and passage of this legislation would come as a welcome relief to farmers across the country.
