meat prices?

Question

let's say that suddenly meat prices were to go up .....so does that automatically mean that there is inflation?....why or why not?

Answer 1

No it doesn’t automatically mean there is inflation.

Inflation is when a monetary unit generally buys less than it did in the past. “Generally” is important as it denotes a broad sampling. There will be items that drop in price even though an area could be undergoing 15% inflation. Recently the cost computing power has dropped immensely over the last 20 years, even when compared to inflation.

The price of meat might go up because there is latency between when demand increases and supply catches up, or drop dramatically if demand were to fall off because of health fears (say some bad news about a mad cow breakout). These would occur regardless of inflation.

Gasoline is currently way out of sync with inflation, but the market is already reacting to it. We are seeing a large softening in the sales of SUV’s and big increase in smaller more economical vehicles. More immediate is a decrease in road travel. Classic demand adjustment to higher prices

Answer 2

I think meat prices, like everything else, is going to depend on the oil prices. I wouldn't be surprised if the food prices got too high to eat good meat. Pretty soon we will be forced to eat hotdogs and pretend to like it.