Inflation, Food Price | featured news

Rising food costs and higher rents offset a drop in gas prices last month, leaving consumer prices only slightly higher in October compared with the previous month.

Global alarm over a potential repeat of the 2008 food crisis escalated on Thursday after data showed food prices had jumped 6 percent last month and importers were snapping up a shriveled U.S. grain crop, helping drive corn prices to a new record.

The record drought gripping half the country will help push food prices up by 3 percent to 4 percent next year, the U.S. Department of Agriculture said Wednesday. Milk, eggs,beef, poultry and pork prices will all be affected by the drought, which has pushed up prices for feed. Beef prices are expected to see the biggest jump at 4 percent to 5 percent. Dairy product prices are forecast to climb 3.5 percent to 4.5 percent; poultry and egg prices are projected to rise 3 percent to 4 percent; and pork prices are expected to rise 2.5 percent to 3.5 percent in 2013, the agency said.

The way Americans are chomping Big Macs, lacing up pricey sneakers and gulping peppermint mochas in this economy, you'd think they're taking advantage of big holiday discounts.

For the first time since the recession, Chipotle Mexican Grill Inc. is raising its menu prices in the Northeast and Southeast over the next few weeks, with changes in other markets to follow, the company said.

Americans are finally getting some relief from high gas and food prices. Wholesale food prices fell last month by the most in nearly a year, and gas prices keep dropping after peaking in May. A separate survey suggests CEOs are feeling more optimistic and will hire more in the second half of this year.

Global food prices will remain high and volatile as record food production will only just meet demand, according to the UN.

Left unchecked, climate change aligned with population explosion and low agricultural yields will drastically increase global poverty and hunger over the next two decades, warns the international aid organization Oxfam in a report released today ...

Consumers paid more for gas and food in April, pushing inflation to its highest level in two and a half years. But so far this month, inflationary pressures have begun to ease.

Hunger was such a constant companion in Yao Qizhong's childhood that even now, at age 40, he'll stoop down to salvage a single clove of garlic that falls from his table at the Beijing market where he hawks fresh produce....