There's a market near my office which has an in-house bakery. Their best deal was a baguette for $1.50 and it was at least a good 14" long.
I went there today... a 50% increase at $2.25.
Now, we can all afford $2.25. But they put up a notice, of which I took a photograph...
"Dear valued customer,
The last 12 months have brought substantial increases in commodity prices, and we can no longer hold our prices at the current levels.
The following are examples of some increases:
SUGAR +40%
COCOA +36%
CORN +97%
BUTTER +71%
SOYBEANS +52%
WHEAT +58%
COFFEE +115%
Effective Tuesday, March 15th, we will be raising our prices to reflect these increases."
With QE3, it'll cost $3 or $4 sometime.
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