Frozen orange juice concentrate $4.641/12oz
Coffee $8.414/lb
Bananas $0.657
Chocolate Chip cookies $5.264
Even though bananas and chocolate chip cookies made new highs, they are good values adjusted for inflation since 1980. Bananas are 49% lower than they should be, and the cookies are 12% lower. Most US bananas come from Guatemala, Ecuador, Costa Rica, Colombia, and Honduras.
Coffee is running 3.9% ahead of its inflation adjusted price from July 1984, and OJ is running 3.4% ahead of its inflation adjusted price since July 1980.
All nearly fifty food items I track are still near their all time highs.
We've had no fewer than seven spikes of serious food inflation running ahead of core inflation just since the year 2000.
Agricultural export prices also have soared since then. What a coincidence.
