Saturday, March 5, 2011

USDA projects 2 to 3 percent increase in food prices in 2011 - Kingsport Times-News Online

NOTE: I guess they didn't consider it food price inflation as packages and weights were smaller and prices the same...not as many sale prices can also be inflation. This last winter we had lots of food sales, now they do not SEEM as deeply discounted. At least the USDA is more scientific than my how it FEELS as I grocery shop.

USDA projects 2 to 3 percent increase in food prices in 2011 - Kingsport Times-News Online: "The ERS released its forecast in late January, predicting an increase in the cost of both food from the grocery store and meals from restaurants.

“Although food price inflation was relatively weak for most of 2009 and 2010, higher food commodity and energy prices recently have put pressure on wholesale and retail food prices,” the agency notes on its Web site. “The all-food CPI increased 0.8 percent between 2009 and 2010, the lowest food inflation rate since 1962. Food-at-home prices increased by 0.3 percent — the lowest annual increase since 1967 — with cereal and bakery prices declining 0.8 percent and processed fruit and vegetable prices dropping 1.3 percent, while food-away-fromhome prices rose 1.3 percent in 2010, the lowest annual increase for restaurant prices since 1955.”"

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