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Porter's View on Food Prices and Household Earnings
Sylvia Porter analyzes the 11 key food items in the government price index noting an 8.9 percent rise from February 1961 to March 1966 while after tax earnings for a four person manufacturing family grew 19 percent and a single worker 20.6 percent. She argues food price increases are a gradual creep compared to services costs and highlights wide variation among individual food items with lettuce up 89 percent and pork 31.1 percent but beef 5.3 percent and oranges and milk lower. April shows a 0.1 percent food price rise the slowest since last November and Porter suggests farm price declines could ease overall inflation.
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The _ Hall Syndicate, Inc