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Mon, 02/25/2008 - 09:59 — mpapet
The Financial Times is reporting a forcasted increase in commodity prices that will most likely raise the price consumers pay for their groceries. (link) In most instances, the prices paid by consumers for manufactured food
remain relatively stable with price increases absorbed somewhere
betweeen the farm and the retailer.
Last year, food inflation was reported by U.S. Department of Agriculture as increasing 4%. This year, another 4% is forcasted by officials. (link) The Financial Times story quoting industry members suggest that number is low because they can no longer afford to absorb cost increases in their ingredients.
Bottom line for food shoppers: Prepare to pay more everywhere you shop. :(
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