US Food Prices See Biggest Rise in 36 Years
Rough winter accounts for much of 3.9% increase
By Newser Editors and Wire Services
Posted Mar 16, 2011 5:53 PM CDT
In this March 1, 2011 photo, Connie Booth picks out an avocado while shopping at a Kroger Co. supermarket, in Cincinnati. Wholesale prices jumped last month by the most in nearly two years due to higher...   (Al Behrman)

(Newser) – Americans are noticing higher prices at the grocery store, and it's about to get worse. Food prices at the wholesale level rose last month by the most in 36 years. Cold weather accounted for most of it, forcing stores and restaurants to pay more for green peppers, lettuce, and other vegetables, but meat and dairy prices surged, too. Food prices rose 3.9% last month, the most since November 1974.

At the same time, global prices for corn, wheat, soybeans, coffee, and other commodities have risen sharply in the past year. That's raised the price of animal feed, which has pushed up the cost of eggs, ground beef, and milk. Paul Ashworth, an economist at Capital Economics, says his firm has warned since last summer that spikes in commodity prices would eventually work their way down to wholesalers and consumers, "and here it is. There is plenty more to come over the next few months."

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Sir_Cancelout
Mar 20, 2011 11:27 AM CDT
Meanwhile, for the year 2010--and recently extended through 2011--Social Security recipients are not receiving a cost of living increase (COLA) for the first time since 1974! Rationale!? Why...there's "NO INFLATION," of course! Uh--yeah--RIGHT !!!!!
onebadc20
Mar 16, 2011 11:43 PM CDT
All you citiots keep whining about your food prices, I'm gonna head out to the lake and catch my dinner. Try being self sufficient. Grow a garden, fishing, hunting, etc. I don't remeber the last time I bought meat from a store. Anymore, beef taste like sh*t to me after eating delicious lean venision for the last 3+ yrs.
Ucantusethatname
Mar 16, 2011 10:16 PM CDT
The many Americans who voted for change: You got what you voted for.