Deflation stalks the aisles; Safeway cuts below profit point
(NEWSER) - Americans are getting a big break on the price of food, as the recession drives down the cost of wheat, milk, and other staples, and supermarkets fight feverishly for sales. After a year of dramatic increases, commodities are way down—the price of corn, for instance, is down 56% since July 2008. That may be good news to consumers, but deflation is very bad news for retailers, who are seeing revenues drop precipitously, reports the Washington Post. More»
