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Food prices rise sharply – and there’s more to come

Stacy Finz,
SF Chronicle [1]
Dec 17, 2010

For the first time since 2008, inflation is hitting consumers in the stomach.

Grocery prices grew by more than 1 1/2 times the overall rate of inflation this year, outpaced only by costs of transportation and medical care, according to numbers released Wednesday by the U.S. Bureau of Labor Statistics [2].

Economists predict that this is only the beginning. Fueled by the higher costs of wheat, sugar, corn, soybeans and energy, shoppers could see as much as a 4 percent increase at the supermarket checkout next year.

“I noticed just this month that my grocery bill for the same old stuff – cereal, eggs, milk, orange juice, peanut butter, bread – spiked $25,” said Sue Perry, deputy editor of ShopSmart magazine, a nonprofit publication from Consumer Reports. “It was a bit of sticker shock.”

Full article here [3]

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