If you’re the type that likes to stock up on food, I wouldn’t delay any major purchases for too long. A story in the Financial Times is reporting that US food manufacturers including Kraft, Sara Lee, Tyson, ConAgra and Kellog’s will be jacking up prices this fall in response to rising commodity and production costs.
“Price increases vary a lot by type of products but the increases will be as low as zero and some products we will decrease on and other increases [will be] in excess of 20 per cent.”
Prices for meat & dairy will take the lead in inflation from the looks of it. The positive side of all this is that US meat consumption is expected to decline this year for the first time 27 years. How wonderful for us that the food conglomerates are helping us eat healthier…
In all seriousness, most of us could probably do with eating better. I addition to eating less meat, though, we’d also be better buying less nutrient-dead, over-processed crap in a box, but you don’t see Kraft or Kellog’s touting that idea too much.
HT: Urban Survival