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Food prices going up rapidly

November 4, 2010 12:00:00 AM PDT
Recent government data shows that food makers are preparing to increase their prices and grocery chains are preparing to pass that hike onto consumers. Shoppers at a local Sherman Oaks grocery chain said the cost of groceries is climbing by the day.

"I think this is crazy," said Gwen Adair. "Everything else is going up as it is and now you go in and it's a certain price and two days later it's gone up. I don't understand."

Prices are expected to climb on products on the store shelves and produce, meats and dairy. Experts said the rising cost of corn, wheat and other commodities is causing the increases in virtually everything we buy. Wheat goes into bread while corn feeds the cows, pigs and chickens.

"We as consumers - it's been a long time since we've had prices rise as sharply as they are and are likely to in the next several months," said Nancy Sidhu an economist with L.A. Economic Development Center.

According to a U.S. Bureau of Labor statistic, prices for fruits and vegetables are up 3 percent, milk 10 percent and beef 13 percent. Officials said the price increases are so noticeable because overall inflation this year has been just over 1 percent.

Restaurants are also expected to raise prices in the coming weeks as well.


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