Food price inflation is the topic du jour, with a run up in wheat, corn, and soy causing panic amongst those concerned their wages won’t stretch to meet the new costs.
But, actually, food is cheaper than it has ever been, according to a chart from MJ Perry. Well… the key is that as a percentage of disposable income food prices remain ridiculously cheap. Yes, they’ve gone up, and sure wages have gone down, but it’s all about perspective. Food prices aren’t a big crisis, at least in America.