| The KRMG Morning News Blog |
Food Costs Rising Fast
Been to the grocery store lately?
The U.S. is wrestling with the worst food inflation in 17 years, and analysts expect new data due on Wednesday to show it's getting worse. That's putting the squeeze on poor families and forcing bakeries, bagel shops and delis to explain price increases to their customers.
U.S. food prices rose 4 percent in 2007, compared with an average 2.5 percent annual rise for the last 15 years, according to the U.S. Department of Agriculture. And the agency says 2008 could be worse, with a rise of as much as 4.5 percent.
Higher prices for food and energy are again expected to play a leading role in pushing the government's consumer price index higher for March.
Analysts are forecasting that Wednesday's Department of Labor report will show the Consumer Price Index rose at a 4 percent annual rate in the first three months of the year, up from last year's overall rise of 2.8 percent.
(Source)
I am the grocery-shopper-in-chief in my household.
With a household full of our three little children, wife and mother-in-law, costs for food make up a sizable portion of our budget.
We recently switched from organic milk for the kids to non-organic because of the expense of milk.
I recently picked up a box of cereal to put in my cart, only to put it back on the shelf after seeing the $4.25 price tag.
There are recent reports detailing how much food we waste - upwards of a third of all food purchased and brought into the home.
My wife cleaned out our pantry over the weekend and I witnessed first hand the disposal of a significant amount of food.
I can't do anything to bring the cost of food down, but I can shop more wisely and reduce waste.
I think I'll do both.
What others are saying
- YesYou're right, I can afford the $4.25 cereal.
Yet, I have set budgets for all household expenses and I've been exceeding my budgets for food - both groceries and dining out.
I either must re-adjust my budgets or shop smarter.
For now, I'll shop smarter. - food costsCome on Joe - they pay you enough money at KRMG to buy that $4.25 cereal...
Marketplace
"Pick Your Bundle" ! Get Essentials, Plus, or Ultra from Cox Cable - your friend in the digital age!
