Food Prices: Most are Up, Not All
Much has been written about the soaring prices for such basic commodities as corn and rice. And many have noted that when combined with higher transportation costs fueled by expensive oil, those increases are filtering through to the supermarket aisle. But in fact the impact of commodity prices on retail prices is not always so obvious. It varies greatly from one product to another. While the price of flour has ballooned 51% in the past year, breakfast cereal—generally made of expensive commodities like corn and wheat—has increased 3.3%.
Here's a look at the price increases—and a few decreases—for a range of basic food items over the past one to two years. The prices are stated in per-pound units, unless noted otherwise, and are U.S. city averages compiled by the U.S. Bureau of Labor Statistics.
