Inflation Hits Food Prices

Inflation hasn't hit these hights yet. These prices are in Swedish kroner, not US dollars.

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 December 15 by the U.S. Bureau of Labor Statistics. While overall inflation nationwide was 1.1 percent, grocery prices went up 1.7 percent.

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.

Since November 2009, meat, poultry, fish and eggs have surged 5.8 percent in price. Dairy and related products have gone up 3.8 percent; fats and oils, 3 percent; and sugar and sweets, 1.2 percent.

Source: San Francisco Chronicle, read the rest of the article here.

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