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Thursday
Nov042010

Food Prices on the Rise

Photo Courtesy - Getty Images(NEW YORK) -- Food sellers will be forced to pass on the rising cost of food to consumers after a year that saw the lowest food prices in nearly two decades, reports the Wall Street Journal.

As inflation sets in, supermarkets and restaurants have had to raise costs to make up for a sharp rise in the cost of staple products. 

Companies like McDonald's Corp., Kellogg Co., and Kroger Co. have signaled that consumers will begin to pay more for their products due to the higher price of ingredients.

Even Starbucks -- which announced in August it would stave off price increases -- said it plans to boost the cost of hard-to-make drinks.

Copyright 2010 ABC News Radio







ABC News Radio