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Released: July 24, 2011
Price of dinner foods up almost 5% in one year
Source: John Melloy, CNBC.com
The "Food at Home" component of the recent consumer prices report surged almost 5% on an annual basis as grocers passed on to consumers the 12-month jump in corn, rice, sugar and oats. The measure, defined by the Bureau of Labor Statistics as "total expenditures for food at grocery stores," rose 4.8% during the 12 months ending in June. That's up from a 4.4% annual increase from May's report. Plus, not counting the temporary spike in inflation during the aftermath of the credit crisis, this is the biggest price increase by grocers since 2004.Read Full Article: Price of dinner foods up almost 5% in one year
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