The Consumer Price Index for all foodincreased 2.3 percent in 2000 and should rise about the same amountin 2001, say University of Georgia experts. After near-recordgrowth last year, beef and pork price increases are expected toslow. Other food items should see only small increases.”The slowing economy during the last quarter of 2000 is aforecast of a slower rate of economic growth during 2001,”said Bill Thomas, an agricultural economist with the UGA Collegeof Agricultural and Environmental Sciences. “Because farm commodities account for only 20 cents of eachretail food dollar, it’s more important to look at what’s happeningin the rest of the economy than to focus on farm prices,”Thomas said.What’s Driving Cost? Photo:USDA Americans can expect food prices to rise about 2 percent to 3 percent during 2001. Higher energy prices last year won’t necessarilytranslate into higher food prices, because transportation andenergy costs are small components of the total food marketingbill.”The total marketing bill equals 80 cents for every dollarconsumers spend on food,” Thomas said. “Transportationcosts are 4 percent and energy costs 3.5 percent of the marketingbill. If energy costs continue to be this high through 2001, another0.2 percent could be added to the rate of inflation in food.”Food price changes are a key to determining the portion of consumers’income that is spent on food. In 1999, consumers spent 10.4 percentof their household disposable income on food, with 6.2 percentfor food at home and 4.2 percent for food away from home. “During 2001, the long-run downward trend should continue,resulting in consumer expenditures for food amounting to only10.3 percent of their income,” Thomas said.Item-by-item CostThomas and other UGA economists make theseforecasts for individual food sectors:Meat Products: A booming economy continues to fuel demand for meatproducts, and overall meat prices were up 5.6 percent in 2000.Large meat supplies should limit gains to 3 percent to 4 percentin 2001.Fish and seafood: Prices should climb 2 percent to 3 percent in2001. A strong domestic economy is boosting sales in the restaurantand food-service sectors, which claim a growing share of totalseafood sales.Eggs: Prices will rise as much as 1 percent in 2001. Higherproduction levels and slower growth in exports have led to lowerretail prices the past four years.Dairy products: The CPI is expected to increase 1 percentto 2 percent in 2001. Strong consumer demand for gourmet ice cream,cheese and butterfat products, is expected to continue into 2001.Fresh fruits: It’s too early to know the full impact ofthe freezes in Florida on citrus prices. However, continued demandfor fresh fruits and normal production levels for major fruitsin the United States should boost the fresh-fruit CPI 2 percentto 3 percent in 2001.Fresh vegetables: After low farm prices in 1999, farmersreduced acreage in 2000, and prices climbed. Farmers took note, and shipments are expected to decline during 2001. Assuming normal weather and continued strong demand, the fresh-vegetable CPI should increase 2 percent to 3 percent in 2001.Processed fruits and vegetables: Adequate supplies of mostfruits and vegetables for processing is expected to limit theCPI increase to 2 percent to 3 percent in 2001.Sugar and sweets: Relatively low inflation, along withincreased production and lower retail for selected sugar-relatedfood items, is expected to limit the index increase to 1.5 percentto 2.5 percent in 2001.Cereal and bakery: With grain prices lower this year andinflation-related processing costs modest, the CPI is forecastto rise 2 percent to 3 percent. Most of the costs to produce cerealand bread products — more than 90 percent in most cases — arefor processing and marketing. Grain and other farm ingredientsaccount for a fraction of the total cost.Nonalcoholic beverages: The CPI is forecast to rise 2 percentto 3 percent. Prices of coffee and carbonated drinks, which accountfor 28 and 38 percent of the index, rose 3 percent (coffee) and4 percent (soft drinks) in 2000. Recent near-record arabica beanproduction in Brazil should lead to larger U.S. stocks and continuedmoderate consumer prices.
On Thursday, Lacson claimed that severalCabinet officials have apprehensions and reservations about Duterte’s move toscrap the 1998 military deal and were worried about the possible repercussionsof the abrogation. “Basically, that’s the message. I mean,consistent naman si Pangulo diyan eh. We will pursue an independent foreignpolicy where we are friends to everyone and enemies to none. And I think whenthe President gave that statement, I think all he’s saying is that hindi tayopwede mag side sa kahit sino,” he added. “All members of the Cabinet support thePresident’s foreign policy,” Panelo said. The VFA, which was signed in February1998, allows the entry of US troops sans passport and visa regulations so theycan participate in joint military drills in the Philippines./PN Cabinet Secretary Karlo Nograles,for his part, said that Lacson’s statement was mere “speculation.” Presidential Spokesperson Salvador Paneloissued this statement to dispute the claim of Senator Panfilo Lacson thatDuterte’s revocation of VFA was not fully backed by all Cabinet members. Presidential Spokesperson Salvador Panelo says all members of the Cabinet support President Rodrigo Duterte’s foreign policy, contrary to the claim of Sen. Panfilo Lacson. ABS-CBN NEWS “Let me assure, everybody, that when thePresident makes a decision, all, the entire Cabinet will support him there. Andthat includes VFA,” Nograles said. MANILA – Theentire Cabinet supports President Rodrigo Duterte’s move interminating the Visiting Forces Agreement (VFA) between the Philippines andUnited States, Malacañang said.
Like the other 63 players in the Accenture Match Play Championship, Poulter was back at Dove Mountain near Tucson for the resumption of a first round halted by the wintry conditions. Less than four hours’ play was possible and 10 games – including those of top seeds Rory McIlroy, Tiger Woods and Luke Donald – did not even tee off. “This weather is officially ridiculous,” McIlroy, who plays Shane Lowry in one of two all-Irish clashes, said on Twitter. The other one between Graeme McDowell and Padraig Harrington had only just started when the suspension came and McDowell commented: “Holy coldness. I’ve only ever played in an event with conditions like this once.” It was the West of Ireland Championship in “about 1998”. Poulter, winner in 2010 and perhaps the most feared match play golfer around after his deeds at the Ryder Cup, was going well. He stood three up on Scot Stephen Gallacher, who three-putted the short sixth and conceded the eighth and 10th. “What’s the problem? Let’s play,” Poulter joked on Twitter. “The caddies have officially just had a snowball fight. Never seen anything like it.” He then posted a picture of “at least two inches of snow” on his courtesy car. Lee Westwood was two up on Spaniard Rafael Cabrera Bello after five and Justin Rose two up at the turn on South Korean KJ Choi, although he had been four up after five. Welshman Jamie Donaldson, winner of last month’s Abu Dhabi Championship, had to take a penalty drop after his opening drive and bogeyed five of the first seven holes to be three down to Thorbjorn Olesen, but Bristol’s Chris Wood, who won his first European Tour title a week later in Qatar, was level with Masters champion Bubba Watson after six. Closest to winning was Sergio Garcia, whose first shot on his return will be a 12-foot putt to beat Thailand’s Thongchai Jaidee on the 16th green. The forecast was for the snow to have cleared away overnight, but there was the possibility of early frost and that would delay things further. Ian Poulter has never seen anything like it – caddies having a snowball fight in the Arizona desert. Press Association