Last month, the AZFooddude mentioned
McDonald's forecast of higher prices for the year. Back in April, McDonald's predicted an increase of 4 to 4.5 percent for retail-food prices. This matches what some other
economists are now predicting and even surpasses government forecasts:
"Retail-food prices will jump more than the U.S. Department of Agriculture’s estimate of 3 percent to 4 percent this year, said Chad E. Hart, an economist at Iowa State University in Ames."
In addition, the rate of inflation for groceries and in restaurants, through the first 4 months of the year, made the highest jump since 1990. To make matters worse, especially for coffee drinkers out there, the article reports:
"Yesterday, J.M. Smucker Co. announced an 11 percent price increase for Folgers coffee, the best-selling U.S. brand, after the cost of beans almost doubled in a year."
Here's to hoping in a month, I don't have to report on another increase.
