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Food Prices Surge Most In 26 Years

Posted By admin On April 22, 2010 @ 10:14 am In Money Watch | Comments Disabled

MarketWatch [1]
Thursday, April 22, 2010

WASHINGTON (MarketWatch) — Higher prices for vegetables helped drive U.S. wholesale prices higher by a seasonally adjusted 0.7% in March, reversing a drop in February, the Labor Department estimated Thursday.

The producer price index has risen by 6% in the past year, led by a 23% rise in energy prices, the government agency said. It’s the largest year-over-year gain since September 2008.

(ARTICLE CONTINUES BELOW)

[2]

Excluding often-volatile food and energy prices, the core PPI increased 0.1% in March and is up 0.9% compared with a year earlier.

The big story in the March PPI was wholesale food prices, which rose 2.4%, matching the biggest gain in 26 years. Prices of fresh and dried vegetables soared 49.3%, the most in 16 years. Prices of seafood, meat and dairy goods also rose. But prices of processed foods were unchanged.

Full story here. [1]


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[1] MarketWatch: http://www.marketwatch.com/story/wholesale-prices-jump-07-on-higher-food-prices-2010-04-22?dist=beforebell

[2] Image: http://infowars-shop.stores.yahoo.net/post4rioffe.html

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