Worst food inflation since H. Bush

April 16, 2008 at 6:27 pm Leave a comment

U.S. seeing worst food inflation in 17 years

Associated Press
updated 6:18 p.m. CT, Tues., April. 15, 2008
http://www.msnbc.msn.com/id/24127314

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.

–  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.

–  “I was talking to people who make $9 an hour, talking about how they might save $5 a week,” said Kathleen DiChiara, president and CEO of the Community FoodBank of New Jersey. “They really felt they couldn’t. That was before. Now, they have to.”  For some, that means adding an extra cup of water to their soup, watering down their milk, or giving their children soda because it’s cheaper than milk, DiChiara said.

 

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