Rising Food Costs Threatens Inflation
As consumers digest higher energy prices, it looks like rising food costs will also cut into household budgets. Grain prices are soaring. Wheat prices have jumped to an all-time high of more than $10 a bushel. Corn and rice prices are up, and soybeans are the highest in more than three decades. The cause is strong global demand, and a falling supply of some grains. Economists also worry this will add to overall global inflation.
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