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High food costs fuel rise in consumer prices.
Publication: The Record (Hackensack, New Jersey) (via Knight-Ridder/Tribune Business News) Publication Date: 18-NOV-04 |
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COPYRIGHT 2004 The Record
Byline: Kevin G. DeMarrais
Nov. 18--HACKENSACK, N.J. -- Shoppers don't need a federal survey to tell them that produce prices are out of sight.
Consumer prices rose 0.6 percent last month, the government reported Wednesday, and higher food prices were a prime reason.
Economists often downplay the "usually volatile" food and energy sectors in assessing inflation, but the volatility is anything but usual for shoppers forced to pay sharply higher prices for Thanksgiving dinners.
That's because some of the most popular fruits and vegetables were heavily damaged by the series of hurricanes that swept across Florida in September and October, and floods caused by recent rains in California.
Combined with high fuel costs -- most of the produce is being trucked from California, Florida and Mexico...
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