How Food Price Inflation Will Affect Everything You Eat Today

eating sandwich woman

Photo: www.flickr.com

There haven’t been riots in the street, but Americans are starting to notice the rise in food prices.The Daily has a great rundown of how everything you eat today has been or will be affected by the global food crisis.

BREAKFAST: Cereal with bananas

Corn futures nearly doubled last year.

Retail banana prices rose 21 per cent.

Source: The Daily

BREAKFAST: Coffee

A pound of coffee cost $4.15 last year, up 13 per cent from the year before.

Duncan doughnuts hiked coffee prices by 9 per cent last year, and expects to hike another 10 per cent this year.

Source: The Daily

BREAKFAST: Orange juice

Orange juice futures doubled in 2010. An industry trade magazine predicts OJ will soon be a luxury item.

Source: The Daily

BREAKFAST: Eggs

Retail egg prices rose over 1 per cent in 2010. The government projects a 2.5-3.5 per cent rise in 2011.

Source: The Daily

BREAKFAST: Bacon

Retail bacon prices rose 17% in 2010.

Source: The Daily

LUNCH: Apple

Retail apple prices rose 7.4% last year.

Source: The Daily

LUNCH: Milk

The average gallon of milk rose 6.9% to $3.32 last year. The USDA projects a 5% rise this year.

Source: The Daily

LUNCH: Bologna and cheese sandwich

Wheat futures rose 35% last year.

Retail cheddar prices rose 8.4% last year to nearly $5 a pound.

Sara Lee has hiked prices for lunch meats.

Source: The Daily

DINNER: Salad

A carton of vine-ripe tomatoes jumped from $7 to $24 last year. A 60-year cold spell in Mexico is expected to double fresh produce costs in coming weeks.

Source: The Daily

DINNER: Steak

Sirloin prices rose 5% last year. Tyson says more hikes are coming.

Source: The Daily

DINNER: Potatoes

Although retail potato prices declined 6% last year in the U.S., prices doubled around the world.

Source: The Daily

DINNER: Beer

The Russian heat wave drove wheat prices up 47% last year. Miller-Coors plans to raise prices.

Source: The Daily

Food inflation will lead to one thing...

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