Higher energy and commodity costs boost 2011 food prices
In 2011, food-at-home (grocery store) prices are forecast to rise 4 to 5 percent, while food-away-from-home (restaurant) prices are projected to increase a little less-3 to 4 percent. These increases follow two years of modest price increases for food away from home and very little increase in at-home food prices. Food-at-home prices rose 0.5 percent in 2009, followed by a 0.3-percent increase in 2010. Higher energy and food commodity costs, along with strengthening global food demand, have pushed up 2011 food prices. This chart is an updated version of a chart that appeared in the December 2011 issue of Amber Waves magazine. This updated chart reflects the latest food price forecasts as of November 25, 2011. More information can be found in the Consumer Price Index (CPI) topic on the ERS website.
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