Conscious Flow Radio

Tuesday, October 7, 2008

Prices for 16 basic food items shoot up in third quarter

Supermarket prices for 16 basic food items surged to a record in the third quarter because of higher commodity costs and increased processing and transportation expenses, the American Farm Bureau Federation said Thursday.
The average cost of typical weekly consumer purchases rose 11% to $48.68 in the three months ended Sept. 30, from $44.03 a year earlier, the federation said. Costs rose 4.3% from the second quarter.