SAN ANGELO, Texas There are some mixed signals coming from several
economists as they predict what consumers will pay for food at the grocery store
once they return to normal routines of shopping in this new year.
Although the latest Texas Farm Bureau Grocery Price Watch shows food prices fell
in the fourth quarter of 2009, a survey conducted by Wells Fargo & Co. predicts
retail food prices may jump as much as 6 percent in 2010.
Rising milk, beef, pork and chicken prices will double the pace of U.S. food
inflation this year as livestock supplies shrink and rebounding economies boost
demand, says Michael Swanson, a senior economist at Wells Fargo & Co.
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