The U.S. Labor Department has just reported that prices people are paying at grocery stores for food has just seen the biggest jump in 46 years.
Prices Americans pay for eggs, meat, cereal and milk shot higher in April as people flocked to grocery stores to stock up on food amid government lock-downs designed to slow the spread of covid-19.
The U.S. Labor Department reported that prices all U.S. consumers paid for groceries jumped 2.6% in April, the largest one-month pop since February, 1974.
Across America the average price of the meats, poultry, fish and eggs category rose 4.3%, fruits and vegetables climbed 1.5%, cereals and bakery products advanced 2.9%, and dairy goods gained 1.5%.
But from New York to Nigeria around the world there is a broad based spike in food prices, and in some places more severe than others.
In Los Angeles, a dozen California eggs had been $1.55, but has risen to $3.66 for a dozen. In Brooklyn a grocer says styrofoam-white eggs did cost him between 75 cents to $1.10 a dozen wholesale, but now that price has gone up about 300 to 400 percent, hovering around $4.
And in Nigeria, for example, the cost of rice in retail markets soared there by more than 30% in the last four days of March alone.
Also, export prices and food price futures in the commodity markets do not bode well for grocery prices in the near future.
The price of wheat futures trading in Chicago has risen 15% over the past two weeks, and rice prices are following suit. And one benchmark variety of Thai rice trading internationally is up 20% this year.
Orange juice futures have also spiked more than 20% and the wholesale price of “Midwest large” eggs has tripled.
And when thinking of food insecurity, there is also the Spam indicator.
As sales of Spam – that much maligned meat – are rising as consumers are turning more to lunch meats and other lower-cost foods to extend their already stretched food budgets.
But the price of Spam is up too, with the average 12 oz. can costing about $2.62. That’s an increase of 17 cents, or nearly 7 percent, from the same time last year.
Spam’s maker, Hormel Foods Corp., reported that it has seen strong sales of Spam in the second quarter, helping push up its profits 14 percent as Spam sales were up over 10 percent.
A month ago we warned about this in a Watch & Pray live-stream on our channel titled “Prophecy Shows What’s Coming Next With Pestilence.”
Where we described how that higher food prices were coming with the frenzied buying coupled together with country’s protectionist policies as they were hoarding food.
Also, we said it’s happening, since the Biblical prophecies (Matthew 24, Revelation 6) foretell that pestilence and famine can come together. And that with the food scarcity, the higher prices are to be expected.
Jesus called out famines and pestilences together in His Matthew 24 discourse on the prophetic signs of the end of this age.
And in Revelation 6:6, the Lord also foretold how that the prices of food in the Last Days would rise so much, that it would take the common person a whole days wage just to by enough food to sustain their life.
The Biblical prophecies describe that pestilence and famine will be signs which indicate the beginning of the end of this age of grace called the “beginning of sorrows.”
These events and conditions happening now are warning signs pointing to the nearing fulfillment of the Last Days prophecies at the end of this age revealing it’s time to prepare now for the nearing appearance of Jesus Christ for His Church by being born again spiritually into the Kingdom of God as Jesus said we must (John 3) and His Apostles who were authorized (Matthew 16:19) described how (Acts 2).
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