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Stunned by how much just the basics cost at the grocery store these days? It’s a recurring complaint, true, but the prices of staples like meat, produce, bread, eggs and milk have risen in what economists are calling the worst case of food inflation in 20 years.
Record-high energy, corn and wheat prices during the past year have raised prices across the aisles of our grocery stores, and families are responding by eating out less, making fewer trips to supermarkets and big-box stores, and paying closer attention to sales and what they put in the cart every week, as the AP reports.
So, no, you’re not imaging things. Food prices rose an average of 5 percent in just one year, and more of the past three years. Here’s a quick look at some average price spikes:
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The fact that consumer confidence is taking a hit is not so surprising when you consider that fuel prices keep rising and home prices keep dropping and news from Wall Street is about job losses to come. The Conference Board, a business group that measures consumers confidence on several economic fronts, has not seen such low expectations since March 2003, just before the U.S. invasion of Iraq.
Where do you stand on the worry line? Take some time to ponder today's Shine money poll and answer these questions when you Read More »- Let’s talk: Comment (13) | Blog
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