The rising food prices that have ravaged our wallets and lifted exchange traded funds (ETFs) have hit few so hard as those in Hawaii.
Think you’ve got it bad? Maybe you won’t complain so much anymore: in Hawaii, peanut butter can cost you $8. A loaf of white bread will run $5.50. A gallon of milk, $6.50; a half-gallon of OJ, $7.19. Ice cream is $7.60 a gallon.
Boy, no wonder everyone in Hawaii has such nice figures.
Hawaii is expensive even in the best of times, since 80% of the food has to be shipped from the mainland, Chris Lawrence for CNN reports. Last year, overall inflation in Honolulu was 4.8%, and food prices were up 5.5%. The national inflation rate was 2.9%, and food prices rose 3.9%.
One professor suggests Hawaiians start growing their own food as a way to combat high prices. Barring that, at least the pineapple is probably affordable.
Agriculture ETFs and exchange traded notes (ETNs) fell some yesterday, but overall for the year, they’re up:
- E-TRACS UBS Bloomberg CMCI Agriculture Index ETN (UAG), up 12.6% since April 4 inception
- ELEMENTS Rogers International Commodity Agriculture ETN (RJA), up 13% year-to-date
- PowerShares DB Agriculture (DBA), up 25.3% year-to-date
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.