By Mike Thayer
In 2011, food prices increased nearly five percent according to U.S. Department of Agriculture data.
Regular readers know I've been warning about inflation for quite some time. Here's what I wrote back in August, 2011:
In checking inflation pricing this week, the Coralville Courier made it to three of the area's major stores, the Coralville HyVee, Walmart and the Iowa City Fareway. Sales are an aside, overall prices continue to climb. Reference: http://coralvillecourier.typepad.com/community/2011/08/area-grocery-prices-continue-to-creep-up-in-price.html
The USDA is predicting a 2.5 - 3.5 percent increase in food prices for 2012, many independent economists are predicting even higher. With the prices for gasoline and diesel skyrocketing, higher food prices is almost a sure bet.