Food Prices To Skyrocket For Months

Falling oil prices have produced some relief for cash-strapped consumers, but the same discounts won’t come to the supermarket—at least not for several more months. So get used to paying more for that smaller box of cereal.

MSNBC: As prices for crude oil and other commodities ease, Americans have gotten a small dose of relief at the gas pump. But don’t expect less pain at the grocery counter.

Food inflation is to stay — and will probably get worse for some things.

That’s because retail prices for cereal, eggs, cheese and meat generally lag by several months or longer world prices for wheat, corn and soybeans — the raw ingredients of so much of our food. Some food items may come down modestly as commodities prices cool off; others might not budge a cent and some may actually increase.

See Also: Kellogg’s Solution to Food Inflation: Put Less Cereal in The Box

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