How far, how fast food prices will go is anyone's guess at this point. This much I can add for your consideration ...
Mountain House freeze dried food (in #10 cans, stores for 30 years) is our number one seller in our buyers club. Until this past September, Mountain House food pricing had remained unchanged for six years! Following the September 2007 price hike, they have subsequently announced to dealers that they will be adjusting their prices twice a year, going forward.
Price stability in foods and other necessities is clearly becoming a casualty in the present global dynamics.
World food price rises to hit consumers
By Javier Blas and Chris Giles in London and Hal Weitzman in Chicago
Published: December 16 2007 22:08 Last updated: December 17 2007 07:45
Global food prices were under further pressure on Monday as benchmark prices for cereals at much higher levels came into operation, making it almost inevitable that a second wave of food price inflation will hit the world’s leading economies.
In Chicago wheat and rice prices for delivery in March 2008 have jumped to an all-time record, soyabean prices are at a 34-year high and corn prices at an 11-year peak.
Knock-on price rises are set to hit consumers in coming months, raising inflationary pressure and constraining the ability of central banks to mitigate the slowdown in their economies.
A first wave of surging cereal prices hit the wholesale market during the summer and has fed through the supply chain and contributed to rising inflation.
See also: "Why Are Prices Rising?"
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