Tuesday, January 18, 2011

Consumers Hit with Higher Food Prices

From the Tennessean: "When people's incomes are not rising and the prices we spend on things like food are rising, that's a pay cut," said economist David Penn, director of the Business and Economic Research Center at Middle Tennessee State University. "On balance, it's not a catastrophe," Penn said of food inflation, noting that the cost of other things, such as clothing, has been going down. "It's more of an annoyance." [more]