 |
         
|
NBC chose a couple of angles on the rising price of food at the domestic supermarket. Tom Costello chose food as an angle on the midwest floods. Soggy farms will reduce the corn and soybean harvest by 6m acres, an amount comparable to the floods of 1993. The 80% increase in the price of a bushel of corn in just the last year will contribute to 6% annual food inflation as it filters through to the family budget. The average family of four is expected to spend $1,000 or $1,200 more on food than a year ago, claimed Costello, citing economists' predictions. His colleague Savannah Guthrie consulted market researcher Harry Balzer and contradicted Costello's economists for NBC's Staying Afloat feature. She reported that families will buy different things in order to avoid spending more: switching from meat to grains; from organics to regular produce; from premium to discount brands; from fine dining to fast food. "Browse the online coupon sites like CouponMom.com and FatWallet.com," she recommended. Or "maybe even…grow your own."
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.
