Trio of factors pushing food
prices higher, economist says
March 17, 2011
By Steve Leer
Grain shortages, Middle East turmoil and extreme weather in critical crop-producing regions have combined to send retail food prices higher this year, said a Purdue University agricultural economist. Prices could climb further if commodities markets continue their upward march.
American consumers can expect to spend about 4 percent more for food this year than in 2010, said Corinne Alexander. Beef, pork and poultry products likely will see even greater price hikes, she said.