The Food Journal and Food, Nutrition & Science

An alliance between The Lempert Report and The Center for Food Integrity

The Rising Cost of Food

The Rising Cost of Food

Shoppers and Trends

April 27, 2008

The Rising Cost of Food
In this issue of Food, Nutrition & Science, we reported in our Shoppers and Trends column on the swift rise in the cost of food.  According to the Bureau of Labor Statistics, a 4.9% increase in food costs occurred for 2007 - a much higher increase than the average 2.5% in the previous seven years. We polled our readers last month to find out what they predicted for the year 2008, and we found out that the majority of our readers are prepared for even higher rises in prices.
When asked “How much do you think the price of food will go up between now and December 2008?” 26% said they expected to see prices increase by more than 15%. Still another 23% seem to think prices will increase as much as 10%. Seventeen percent of our readers expect a seven percent increase, 13% expect a five percent increase, 12% expect a four percent increase, and four percent expect a two percent increase. Only five percent foresee a 15% increase.