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by mikecane 4573 days ago
>>>despite the fact that inflation is running at the lowest level in decades.

Here is someone who does not do his own food shopping. Food prices have exploded since 2008, when the house of cards first collapsed. I used to be able to buy 5 cans of store-brand chunk tuna for $3.00. Now the store brand is gone, replaced by a national brand, and it's $1.29 per can (up from $1.00 per can at the start of this year). And that's just the most egregious example from my own experience. Food packaging has also shrunk dramatically, another way prices actually rise while the "store price" remains almost the same.

6 comments

You know tuna can't just be taken out of the sea like that?

Fish have an ecosystem. They have to be fished at the about same rate they are breeding. If they are not, they are considered overfished. If they are overfished enough they go extinct. In the meantime the supply goes down and less fish are caught. This causes prices to rise. Tuna, like most fish, are overfished.

http://worldwildlife.org/species/tuna

According to information collected by the International Seafood Sustainability Foundation (ISSF), the Eastern Pacific stock of yellowfin is overfished and some overfishing is occurring in the Indian Ocean.The northern and southern Atlantic Ocean stocks of albacore are also overfished.The skipjack tuna, while quite resilient, could easily slip into a vulnerable state due to overfishing if improperly managed.

Bigeye tuna are prized in Asia for sashimi as well as frozen and fresh in other markets. As bluefin tuna populations shrink around the world, pressure on bigeye fisheries is increasing. According to information collected by the ISSF Scientific Advisory Committee, overfishing is occurring in Eastern and Western Pacific Oceans. Bluefin tuna populations have declined severely from overfishing and illegal fishing over the past few decades –not just Atlantic bluefin tuna, but also Pacific bluefin tuna and Southern bluefin tuna. Population declines have been largely driven by the demand for this fish in high end sushi markets.

Albacore is what comes in the cans, the amount that is allowed to be taken out of the ocean was lowered in 2011 to try to combat overfishing.

http://www.fishonline.org/fish/albacore-tuna-233

Albacore stocks in the Atlantic are assessed by ICCAT - the International Commission for the Conservation of Atlantic Tunas. The latest stock assessment of South Atlantic albacore was conducted in 2011 and including catch, effort and size data up until 2009. ..... The 2008-2011 TAC for the South Atlantic albacore stock had been set at 29,900 tonnes. In 2011, following scientific advice, the TAC was lowered to 24,000 tonnes.

Oh by the way, we are rapidly approaching "peak fish."

http://ocean.nationalgeographic.com/ocean/critical-issues-ov...

Faced with the collapse of large-fish populations, commercial fleets are going deeper in the ocean and father down the food chain for viable catches. This so-called "fishing down" is triggering a chain reaction that is upsetting the ancient and delicate balance of the sea's biologic system.

A study of catch data published in 2006 in the journal Science grimly predicted that if fishing rates continue apace, all the world's fisheries will have collapsed by the year 2048.

In 2003, a scientific report estimated that industrial fishing had reduced the number of large ocean fish to just 10 percent of their pre-industrial population.

Yeah, the price of tuna is a terrible measure of inflation. Those fishy stocks are finite and we're approaching the pointy end.
I would hope that tuna prices are rising. Supply and demand.

https://www.google.com/search?q=tuna+population&client=firef...

Way to use an anecdote of a single commodity to claim the entire economy is experiencing extreme inflation.

Moreover, you know tuna is extremely overfished right? This helps explain the price of that can you bought going up. http://www.theguardian.com/environment/2013/jan/09/overfishi...

Minor point. That's bluefin tuna. The stuff that comes in cans in the United States is albacore tuna. Albacore is less overfished than bluefin, the latter of which is more highly prized in Japan. I believe bluefin is the one that is widely illegally fished in Japan.
"About two-thirds of the world's tuna comes from the Pacific, but bluefin tuna accounts for only about 1% of this."

Yes I know, but the above is the more important point, sorry I should have quoted it. The amount of tuna fished from the Pacific (67%)! is way too much to be sustainable.

For more sources on Albacore and Yellowtail see here: http://www.scidev.net/global/policy/news/pacific-fisheries-m...

"The International Union for Conservation of Nature has put yellowfin and albacore tuna in the "near threatened" category..."

I'd like to see the price change for a more renewable foodstuff. IIRC the US is pretty famous for having enormous amounts of corn - how did the store price for that change over time?

Or perhaps even more relevant to the US (due to an apparent lack of availability thereof): fresh produce / vegetables.

There's a reason food and energy prices aren't counted in good inflation measures: They're too volatile to inputs independent of monetary tools.