Food Costs Edged Up 0.3 Percent In October
Prices for most food items are only nominally higher than a year ago, according to government data and survey results released this past week.
Monthly statistics reported last Wednesday by the U.S. Labor Department showing that food costs edged up 0.3 percent in October, only a slight acceleration.
''I think we're seeing higher food prices than we would have absent the increases in energy costs,'' said Ephraim Leibtag, food price analyst for the U.S. Department of Agriculture. ''But we haven't seen anything go off the charts price-wise.''
Food price inflation has been relatively low in 2005, he added, with costs estimated to increase about 3 percent over last year.
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Source - Chicago Sun-Times
''I think we're seeing higher food prices than we would have absent the increases in energy costs,'' said Ephraim Leibtag, food price analyst for the U.S. Department of Agriculture. ''But we haven't seen anything go off the charts price-wise.''
Food price inflation has been relatively low in 2005, he added, with costs estimated to increase about 3 percent over last year.
External Source - For the complete article click here
Source - Chicago Sun-Times
