Wednesday, March 16, 2011

U.S. Food Prices Jumped 3.9%

Food prices jumped a gigantic 3.9% in February, and that's the biggest increase in almost 37 years, the U.S. Bureau of Labor Statistics reported.

Last time last time something like this happened was in November 1974 when food prices soared 4.2% in a month.
Bureau of Labor Statistics officials said 70% of the increase was because of higher prices for fresh and dry vegetables, which went up 48.7%. There were also big increases in prices for meat and dairy products.