Consumers will see food prices stabilize, pressure in commodity prices will ease, General Mills CEO says
March 22, 2012
– General Mills CEO Ken Powell said consumers will see food prices stabilize and that the pressure in commodity prices will ease, MarketWatch reported March 21.
According to food economists at the U.S. Department of Agriculture (USDA), grocery-store prices will likely rise again this year at a pace in line with the 20-year average of 2.8%.
According to USDA data, supermarket prices rose 4.8% last year, the largest gain since 2008’s rise of 6.4%.
The primary source of this article is MarketWatch, New York, New York, on March 21, 2012.