Get ready for bigger grocery store bills and larger restaurant checks.
The U.S. Department of Agriculture's Economic Research Service released its 2011 Consumer Price Index analysis for projections on food prices this week. Its findings: Food prices overall are going to increase 2% to 3% this year.
That price jump is expected to happen both at grocery stores and restaurants.
The inflation in food prices comes after a stretch of relatively low price increases in recent years. The agency’s all-food index showed a mere 0.8% increase between 2009 and 2010, and a rise of just 0.3% for food-at-home prices (the lowest food inflation rates since 1962 and 1967, respectively).
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