Yesterday was the Fourth of July, and I hope you had a chance to celebrate America accordingly.
But with grilling season in full swing, I'm sure plenty of you noticed your summer cookouts are a lot more expensive this year than they were last year.
In fact, the latest Consumer Price Index reading came in at 8.6% … but food inflation is a staggering 10.1%!
And when you drill down into the most in-demand foods of the season, the numbers are worse. Here are the year-to-date price increases for some of America's favorite summertime fare according to the American Farm Bureau Federation:
According to Bloomberg, when accounting for grilling favorites, inflation of those foodstuffs is 17% higher than the year prior!
So today, I'm recapping some of my recent columns dealing with runaway, 40-year-high inflation, soaring food costs and what investors can do to combat it.
The price of wheat is up enormously over the past year … and it could get a lot more expensive. The war in Ukraine doesn't look like it has an end in sight, and India, the world's second-biggest grower of wheat, had its wheat crop decimated by a heat wave.
Going to Hell in a Shopping Cart
There's a food crisis brewing in China and that's going to squeeze global grain prices higher. However, these issues are part of historic cycles that can help you protect and grow your wealth … if you understand them.
6 Reasons Inflation's Next Move Will Shock You
The next thing we'll see is that inflation could be cooling off. In this issue, I discuss six indicators that are pointing toward a possible top in soaring consumer prices.
If you'd like my tailored picks to help your portfolio combat inflation, consider joining my service, Resource Trader .
Members have positions allocated to booming commodities that are benefiting from higher prices.
No matter what you decide, always do your own due diligence before entering a trade. And remember, your grocery bill is increasing but your portfolio can do the same in tandem.
Best wishes,
Sean