Technical clues, before the CPI report, turned the Viper Report’s Tom Aspray even more bullish. He also shares his current view on market leadership.
eggs off the bat, that is down over 8% compared to last year. then you take a look at milk. that s down 10%. bacon a favorite of yours. that is down 4% in cost. but on the other hand, take a look at other staples, some un avoi avoidable. flour up 12% year over year. bread up over 11%. the challenge there is these are increases on top of an already high price. when you look at last year, we saw some of the highest inflation that we ve seen in 40 years. so i want to look beyond just one year to really understand how prices have changed. so if you look prepandemic at ground beef, that was around $3.80 per pound. now for the same amount of beef, you re paying over $5. taking a look at sugar from today s cpi report, sugar is up 11% year over year. when you factor in prepandemic to today, the price has
increased from 2019 to today by 57%. finally, taking a look at pasta. according to today s cpi report, it s up 5.9% in costs. when you look at june to today, there s been a 22% increase in the cost to make one of america s most affordable dinners. one of the ways that families are fighting inflation is subbing out brand news for off label. there s a handful of companies in the united states that control the center of the super mark aisle. these are the kraft, general mills, proctor gamble, lever. their prices have skyrocketed, not gone down. he nots at his grocery store here that in people s carts, you have the generic brands. even with those adjustments, americans are paying more and they feel it.