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Friday, March 28, 2008 4:58:03 PM
Ref - http://www.counterpunch.com/colson03222008.html
According to the Labor Department, milk prices are up 17 percent. Prices for dried beans, peas and lentils are up the same amount. Cheese is up 15 percent, rice and pasta 13 percent, and bread 12 percent. And the price of eggs has risen 25 percent since February 2007--and 62 percent in the last two years. In all likelihood, food inflation will continue, driven by a number of factors, including the rising price of oil which has raised the cost to deliver food and run farm and factory equipment; increases in the cost of farm commodities like milk, corn and wheat; and the declining value of the dollar, which is encouraging exports of U.S. crops and food products.
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