Food prices soar in America

Higher food prices, led by milk, are hitting consumers where it hurts – in the stomach.

…”A lot of basic foodstuffs seem to be going up and dairy products are going through the roof,” said John Norris, director of wealth management for Oakworth Capital Bank and food price guru.

Norris said he’s cut back his kids’ milk consumption to one glass a night. But between work and family obligations, he still drives almost as much as he used to.


“That’s the reason I cut down on milk consumption: so I can drive my car,” said Norris.

It’s not just milk-drinking kids – but also coffee drinkers – who are feeling the squeeze from higher dairy prices. Back in August, Starbucks Corp. chief executive Jim Donald blamed “rising expenses, particularly higher dairy costs” for a 9-cent rise in the price of coffee drinks. For the first time in three years, Starbucks reported a 1 percent drop in customer visits to their stores, even as the value per transaction increased 5 percent.

CNN