Friday, October 30, 2009
(click on images to enlarge)
The Bureau of Economic Analysis (BEA), which is part of the U.S. Department of Commerce regularly publishes economic information. One Item published is called Personal Consumption Expenditures (PCE). For dairy BEA tracks two categories, fluid and manufactured dairy products.
In the above PCE graph I have combined the two, which shows total dollars spent on dairy.
The Bureau of Labor Statistics (BLS)publishes Consumer Price Indexes (CPI). The CPI - the costs of each unit - has fallen for dairy in the first nine months of 2009.
Consumers have spent more money total on dairy and the items costs less. Translation - more, not less dairy was sold. Where is the money?