Contact Us

Food Price Inflation Hits Consumers Hardest At The Grocers

David McNew/Getty Images

With just days left until the end of 2011 the U.S. Department of Agriculture reports that food prices this year went up about 3.5 percent. Ag Department Economist, Ricky Volpe, says prices for foods eaten at restaurants went up about 2 percent while foods bought at the grocery store shot up much more.

“The overall value for food-at-home-inflation for 2011 is gonna be 4.5  to 4.6 percent.  Which is high, but it’s considerably lower than what we saw in 2008.”

Prices went up nearly 6.5 percent that year.  In October and November of this year those grocery store prices actually started to decline slightly.

Volpe says in the new year expect prices to continue to rise, but not nearly as quickly. He says, however, there are variables to keep an eye on.

“If we have great weather, if we have higher than expected supplies, if our exports cool off a little bit, then we may very well see some deflation for some food categories, but on the whole we have no reason to expect that right now.”

This year’s food price increases, Volpe says, were propelled by steep hikes of between 7 and 9 percent on eggs, meat and oils.

Projections for vegetables in the new year are for a downward trend in prices.

 

Best of K2 Radio

Recommended For You

Around the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://k2radio.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Register on K2 Radio quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a member? Sign up here

Register on K2 Radio quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Sign up to have exclusive K2 Fan Club contests, events, coupons, presales, and much more delivered to you for FREE.