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Food Prices Already Starting to Skyrocket

Posted By kurtnimmoadmin On August 12, 2010 @ 8:53 am In World News | Comments Disabled

MoneyNews
August 12, 2010

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Experts warn that overall food-price inflation is inevitable, as Wal-Mart reportedly has already hiked prices amid a recent jump in wheat prices and the failure of the Russian harvest.

The most immediate impact will be felt in the price of bread and bakery products but other food items which make use of grain will also rise, according to analysis from Verdict research. This includes some meat products where grain is used as animal feed.

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Meanwhile, a recent JPMorgan survey of supermarket pricing in Virginia showed a 5.8 percent increase in average prices at Wal-Mart, which represents the most significant sequential increase since the inception of the study in January 2009, the Business Insider reported.

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