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• May 16, 2008 12:07 pm US/Eastern
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  High Food Prices Affect South Florida Shoppers

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High Food Prices Affect South Florida Shoppers

Experts Blame Global Demand, Weak Dollar, Protectionism

Click Here For Grocery Store Saving Ideas

FORT LAUDERDALE (CBS4) ― Everyday foods like fruits and vegetables, beef, poultry and cereals are on the rise in South Florida. The price of milk and bread has been some of the biggest culprits, with increases above 25 percent since the beginning of the year. With basic foods like dairy and wheat driving up the cost of other groceries, almost everyone is feeling the squeeze. 

Consumer prices — for gas, food and other products — are at their fastest pace in the nation, according to figures released earlier in the week  by the Bureau of Labor Statistics, and wages have not kept pace with inflation.

According to CBS4 Ted Scouten, the nation's official inflation rate in April rose a slight 0.2 percent, but in South Florida, the Miami-Fort Lauderdale area topped all other cities with a 4.9 percent annual inflation rate through April. The national rate was 3.9 percent.

Rising food prices can be traced straight back to the farm, where, economists explain, farmers are witnessing 25 years of agriculture inflation in six months.  For example, hay to feed cows costs roughly $240 a ton -- 42% more than a year ago.

That has, in turn, put inflation on the shelves of South Florida grocery stores.

There are many ways to save money, and one of the simplest according to consumer groups is to buy store brands. For example, a brand-named milk can cost $5.87 a gallon while a store brand can be $3.58.

Consumer Counseling Credit Services offers ways to save on your shopping.

(© MMVIII, CBS Broadcasting Inc. All Rights Reserved.)

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