U.S. consumer food prices normally rise by about 2.5 percent annually, but they increased by 4 percent in 2007 — the biggest increase in 17 years, according to U.S. Agriculture Department data.
Prices continue to rise. A survey conducted by the American Farm Bureau Federation in February showed that in the beginning months of this year, the cost of 16 grocery items, including flour and cheddar cheese, was $45.03, up $3.42, or 8 percent, from the fourth quarter.
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but there’s no inflation.