AMARILLO, TEXAS -- Food prices are at an all-time high, and don't appear to be slowing down any time soon.
According to Eddie Owen's of United Supermarkets, prices remained stable during the recession of 2008. It seems however, times have caught up to grocers.
"I think suppliers and manufacturers have tried to keep those prices as low as possible," Owen's said. "They just can't do that any longer."
Produce prices have steadily risen due to crop damage, and with most of the midwest still under drought conditions, it doesn't appear that will change any time soon. In fact Owen stated vegetable prices have risen six percent this year alone.
As the price of corn continues to rise, so do other products that use corn or high fructose corn syrup. Officials point toward the production of corn-based ethanol as one contributor to the incline.
"The congressional budget office recently said it's the increased use of ethanol," Owen's said. "Ethanol accounts for 10 to 15 percent of the increase in food prices."
Owen's later explained that as populations in China and India increase, so does their demand in U-S made food. As their demand rises, so do our prices.
