The Miller Financial Group
What will a tuna roll set you back these days?
We’re talking sushi-grade tuna, with rice, seaweed, and vegetables.
How much more is it going to cost today versus a couple of years ago?
Higher costs (and an understanding of inflation) can be easier to digest when we take them in one ingredient at a time.
Let’s see what that looks like in an ingredient breakdown of today’s costs of a tuna roll, compared to the costs in 2021.*
*All costs are estimates or averages at the time they were collected. They are intended to demonstrate the concept of price fluctuations and the multifaceted nature of inflation, not to provide definitive pricing for any specific period or location. The key takeaway is the overall trend and the various factors influencing price changes, rather than the exact numbers themselves.
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INGREDIENT #1
2024 Price:
$4.30/lb.1
2021 Price:
$2.75/lb.2
~56%
% Change
Why the Price Hike?
Prices for short-grain rice have largely been affected by droughts, rising fertilizer costs, and supply chain disruptions.3
INGREDIENT #2
2024 Price:
$0.27/sheet4
2021 Price:
$0.18/sheet5
50%
% Change
Why the Price Hike?
Rising demand for seaweed snacks, supply chain disruptions, and a shift to sustainable farming have contributed to driving up seaweed prices.3,6
INGREDIENT #3
2024 Price:
$35.36/lb.7
2021 Price:
$34.28/lb.8
~3%
% Change
Why the Price Hike?
Fishing prohibitions in some areas have meant smaller yields and higher prices for sushi-grade tuna.9
INGREDIENT #4
High 2024 Price:
~$1.26/lb10
Average 2021 Price:
~$1.13/lb10
~12%
% Change
Why the Price Hike?
Droughts and weather have partially driven up avocado prices in recent years.11 So has interference by Mexican cartels that have created “war zones” around avocado orchards and import inspections at U.S. borders.12
INGREDIENT #5
High 2024 Price:
~$2.16/lb.13
High 2021 Price:
~$0.68/lb.14
~217%
% Change
Why the Price Hike?
Weather has largely been to blame for rising cucumber costs, especially with major droughts and rainstorms upsetting cucumber production in the U.S. and abroad. That’s led to a persisting shortage of cucumbers and, in turn, much higher prices.15
INGREDIENT #6
2024 Price:
$0.43/oz.16
Average 2021 Price:
$0.32/oz.17
~34%
% Change
Why the Price Hike?
Soy sauce prices have risen due to growing global demand for Asian cuisine and health-conscious consumers seeking plant-based options for condiments. Supply chain disruptions and raw material price volatility have further impacted costs.18
You don't have to be a sushi connoisseur to see what's fueling inflation over the past few years. Complex factors behind the scenes can pull more strings than we realize, affecting not just our favorite foods but our entire financial landscape.
Electricity, fuel, and health care costs have also spiked since 2021, partly due to some of the same factors behind the rising food costs. Weather, supply chain issues, and harvest failures can have far-reaching impacts beyond food alone. Of course, some wild card factors can be at play too, like international conflict and the politics of imports and exports.
While inflation can be challenging, it's just one factor in your overall financial picture. By staying informed, maintaining a balanced financial strategy, and seeking professional guidance when needed, you can be better prepared to adapt to economic changes and work towards your long-term financial goals, regardless of inflationary pressures.
Sincerely,
The TMFG Team
The Miller Financial Group
P.S. What's one food you'd pay for regardless of price? ;)
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For your protection, The Miller Financial Group (TMFG, LLC) cannot accept investment withdrawals or trading instructions via e-mail, text or voice mail. We are happy to speak with you personally to confirm all requests. Securities offered through Valmark Securities, Inc., Member FINRA, SIPC. Investment Advisory Services offered through Valmark Advisers, Inc., a SEC Registered Investment Advisor. 130 Springside Drive, Suite 110, Akron, OH 44333, (800) 765-5201. The Miller Financial Group and TMFG, LLC are separate entities from Valmark Securities, Inc. and Valmark Advisers, Inc. Confidentiality Notice: This communication, and any information or material transmitted is confidential, and is intended only for the use of the intended recipient. Tax/Legal Disclaimer Notice: Any opinions, projections, or recommendations that may be contained in this email are subject to change without notice, and are not intended as individual investment, tax, or legal advice. Please consult your tax and/or legal advisor for how this information may apply to you. |
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