Grocery Prices Keeping Climbing; Up 7 Percent In Last Year

Mary Bouras never expected to get sticker shock from a pound of butter.

But when the grocery staple reached more than $5 a pound at most stores, the 66-year-old Dover resident said it was hard not to.

Last week, she paid $5.79 for butter at Weis, and three other grocery chains in the area had similar prices.

“I know it’s just life and prices go up, but $6 for butter is a lot for me,” Bouras said.

Six months ago, she would have paid $1 less for the same item at the same store. A year ago, it would have been $1.20 cheaper, and five years ago it would have been $1.80 less.

Read more: http://www.yorkdispatch.com/breaking/ci_26672787/grocery-prices-keeping-climbing-up-7-percent-last

U.S. Small Business Confidence Back At Pre-Recession Levels

WASHINGTON – U.S. small business sentiment jumped to its highest level in 6-1/2 years in April, which should bolster hopes of an acceleration in economic activity in the second quarter.

The National Federation of Independent Business said on Tuesday its Small Business Optimism Index rose 1.8 points to 95.2 last month, the highest reading since October 2007, when the economy was on the cusp of its worst recession since the 1930s.

“April’s reading took the index to a post-recession high and a recovery high level,” the NFIB said in a statement.

It adds to data such as employment and surveys on the manufacturing and services industries that have shown the economy regaining steam early in the second quarter after growth braked abruptly in the first three months of the year.

Read more at http://www.philly.com/philly/business/small_business/US_small_business_confidence_back_at_pre-recession_levels.html#pVIe8UF3EDjeX4HO.99

Beef Prices Reach Highest Level Since 1987

English: Australian Brangus steer (Photo credit: Wikipedia)

LUBBOCK, Texas (AP) – The highest beef prices in almost three decades have arrived just before the start of grilling season, causing sticker shock for both consumers and restaurant owners – and relief isn’t likely anytime soon.

A dwindling number of cattle and growing export demand from countries such as China and Japan have caused the average retail cost of fresh beef to climb to $5.28 a pound in February, up almost a quarter from January and the highest price since 1987.

Everything that’s produced is being consumed, said Kevin Good, an analyst at CattleFax, a Colorado-based information group. And prices likely will stay high for a couple of years as cattle producers start to rebuild their herds amid big questions about whether the Southwest and parts of the Midwest will see enough rain to replenish pastures.

Read more at http://www.philly.com/philly/business/20140412_ap_47ea27a0b2244eaea2cabae2a074edb6.html#1ZmJqCrp08y35k34.99

First-Class Stamps To Cost 49 Cents As Of January 26, 2014

USPS service delivery truck in a residential area of San Francisco, California (Photo credit: Wikipedia)

WASHINGTON — Mailing a letter is about to get a little more expensive.

Regulators on Tuesday approved a temporary price hike of 3 cents for a first-class stamp, bringing the charge to 49 cents a letter in an effort to help the Postal Service recover from severe mail decreases brought on by the 2008 economic downturn.

Many consumers won’t feel the price increase immediately. Forever stamps, good for first-class postage whatever the future rate, can be purchased at the lower price until the new rate is effective Jan. 26.

The higher rate will last no more than two years, allowing the Postal Service to recoup $2.8 billion in losses. By a 2-1 vote, the independent Postal Regulatory Commission rejected a request to make the price hike permanent, though inflation over the next 24 months may make it so.

Read more: http://www.pottsmerc.com/general-news/20131225/first-class-stamps-to-cost-49-cents-as-of-jan-26

UGI Seeks To Increase Rates 13.5% By Year’s End

After dropping steadily for the past five years, natural gas prices have finally reached the point where it is no longer profitable for companies to produce the abundant clean-burning fuel.

Natural gas prices for about 90,000 Berks County users started tumbling Dec. 1, 2008, when UGI requested a 16 percent decrease.

But now the low prices, an unusually cold winter and an improving economy have prompted UGI Utilities Gas Division to request a 13.5 percent rate hike.  The requested hike comes in two parts: increases of about 7.2 percent June 1 and about 5.9 percent Dec. 1.

Read more:  http://readingeagle.com/article.aspx?id=477949

Milk Might Hit $8 A Gallon, Absent Federal Action

Consumers soon could be defying the adage of not crying over spilled milk.

If Congress doesn’t pass a new farm bill or extend the one in place by Monday, the price of a gallon of milk in grocery stores could go as high as $8, U.S. Sen. Bob Casey Jr. said Friday during a media conference call.

Earlier this month, U.S. Secretary of Agriculture Tom Vilsack said lack of action would mean milk prices would be based on permanent law enacted in 1949.

The department would be forced to provide substantial financial support to dairy farmers based on their production costs and start buying up surplus milk, he said.

Read more:  http://readingeagle.com/article.aspx?id=439496

Electricity Costs Increase For PECO Customers

The 473,000 PECO customers who have made the switch to an alternative energy supplier must have felt pretty good about their choice Monday.

“PECO’s energy delivery rates have not changed but the price we are paying to purchase electricity for customers who have not switched to an alternative provider has gone up 21.5 percent from the third to the fourth quarter,” said PECO spokeswoman Cathy Engle Menendez.

“The price is adjusted quarterly and tied directly to the wholesale cost of electricity.  We have no control over this price.  It’s a pass-through.”

Read more: http://business-news.thestreet.com/the-mercury/story/electricity-costs-increase-peco-customers/1