Hungry for Food

May 1, 2008 12:00:00 AM PDT
The cost of food these days is enough to spoil your appetite. Its part of a rising tide of prices around the globe.Protestors in Peru, a food crisis in Haiti; people around the globe are hungry for help and starving for solutions abroad and at home.

Sue Carton, consumer, says "Well fruits and vegetables have gotten more expensive from week to week just like the gas. You know, just going up, and up, and up."

Gas prices aside, just pushing a shopping cart down the aisle ends up costing more these days. Sen. Charles Schumer, (D) New York, says "I believe the anxiety felt over higher food prices is going to be just as widespread and will equal or surpass the anger and frustrations so many Americans have about higher gas prices."

Groceries and their soaring sticker prices took center stage on Capitol Hill Thursday. Rep. Carolyn B. Maloney, (D) New York, says "Some are calling this the recession diet."

The chief economist of the Department of Agriculture was among those who tried to explain why Americans are forking over more money for less food. Dr. Joseph Glauber, U.S. Dept. Of Agriculture, says "Global economic growth, the foreign exchange value of the dollar, global weather patterns, rising input costs for energy and labor, international export restrictions and new product markets, particularly bio-fuels."

Some food for thought in the short term: Consider buying the generic equivalent of your favorite foods or brown-bagging it.

Globally, food prices have risen 40 percent since mid-2007. High food and gas prices have pushed consumer spending up twice as much as economists had forecast.


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