Food Prices on the Rise

  • Produce section of a supermarket in VA. (Photo by Ken Hammond, courtesy of the USDA)

Food prices are going up worldwide. A new survey
by the American Farm Bureau Federation finds supermarket
checkout costs have risen nearly 8% this year.
Julie Grant has more:

Transcript

Food prices are going up worldwide. A new survey
by the American Farm Bureau Federation finds supermarket
checkout costs have risen nearly 8% this year.
Julie Grant has more:

Retail food prices usually increase 3% per year. But over the last year the
cost of flour, cheese, bread, meat, oil, and produce is up – by more than
double the average.

The United Nations has predicted prices will stabilize in the long term. But
that consumers worldwide will face at least 10 more years of rapidly rising
food prices.

Commodity prices for corn, wheat, soybeans and other staples have been
skyrocketing over the past year – to more than double 2006 prices.
The higher costs are due in part to weather affecting crops, and growing
demand in China and India.

Economists also point toward the increased use of grains for ethanol and
other biofuels, putting pressure on food prices.

For The Environment Report, I’m Julie Grant.

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