Posted 04/01/2011 ET
Been to the grocery store lately? Prices are up and food packages are shrinking. Call it stealth inflation.
There's no hiding the skyrocketing price of gas that hits you in the face every time you fill up the tank. But food? Last year's steep rise in the price of wheat, corn, coffee, and chocolate is now rippling through the food chain, but the food industry is working overtime to mask food price inflation.
Last October, Obama's Agriculture Department predicted food price inflation, indicating in a report that food prices would "accelerate" in the final months of 2010 and through 2011. The acceleration is here and has taken many forms.
Read more...
There's no hiding the skyrocketing price of gas that hits you in the face every time you fill up the tank. But food? Last year's steep rise in the price of wheat, corn, coffee, and chocolate is now rippling through the food chain, but the food industry is working overtime to mask food price inflation.
Last October, Obama's Agriculture Department predicted food price inflation, indicating in a report that food prices would "accelerate" in the final months of 2010 and through 2011. The acceleration is here and has taken many forms.
Read more...
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