July 4th Grillers Can Expect Higher Food Costs

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July 4 (Bloomberg) –- In today’s “Global Outlook,” Bloomberg’s David Ingles takes a look at rising food prices on Bloomberg Television’s “On The Move Asia.” (Source: Bloomberg)


The food bill will likely be the most expensive on record.

David has that in today's global outlook.

As people fire up the grill's , keep in mind, the food that goes on top of those grills has gotten more expensive.

Ground beef up 16%. ice cream a little bit, 1.7%. tomatoes up 12% compared to last year.

If you put these read together with things like bread, cheese, lettuce, what you have is this barbecue index which tracks the cost of the seven most common foods that people use in barbecues.

The takeaways are close to double the level back in 1996. bring it back here to asia.

This really tells you about food inflation.

It is causing problems for low income countries.

Even if inflation appears to be benign, and a small uptick causes problems for millions of poor people in the region.

Take the philippines for example.

Here it is garlic.

That is a staple in local cuisine.

Prices have shot up to over nine u.s. dollars kilo.

That is more expensive than your pork chops, your chicken breasts, and even some cuts of beef.

The president himself has stepped in and said they are watching the price of garlic closely.

They are cracking down on smuggling.

They will be implementing domestic retail prices.

In india, prices have gone up and up.

183% since 2005. what have they done?

There is enough onion locally.

Authorities have amazed -- have raised the minimum export price, making it more expensive or unattractive to outside buyers.

Food prices are always a concern.

Things seem to be getting more expensive.

As everyone in the u.s. celebrates july 4, it is time to celebrate, but do not forget,

This text has been automatically generated. It may not be 100% accurate.


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