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Monday, August 22, 2011

Higher food prices likely

Today’s USA Today includes a story about the prospects for higher corn prices due, in part, to a challenged U.S. crop this year.  Click here to see the story.

Implications:    The other part of this equation is higher world demand on a weaker world supply.  With such a commonly used commodity feeling the effects of at least short term (2011-2012) inflation, consumers are likely to spend more for the same grocery store staples and restaurant favorites.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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