Grocery bills are eating up more of your income
If things are seeming a little tighter in the money department you may want to take a closer look at your grocery store receipt.
Grocery bills were higher last year, and government forecasters predict that they will go even higher in the coming months. Overall food prices are up 3.1 percent from 2006, but some items have really jumped. Eggs prices are up 29.1 percent, fresh fruits are up 7.3 percent, and fresh vegetables are up 6.5 percent, according to consumer price index data from the U.S. Department of Agriculture.
The increase, industry officials say, is largely due to the rising price of corn, which is used as feed for animals and to produce items made with corn syrup. It's also used to produce ethanol, an alternative energy source, and with fuel prices climbing, corn is in high demand.
Although eggs and fresh fruits and vegetables have gone up the most, experts predict that milk and meat prices will also climb by the end of the year.
