Biz: Wholesale food costs leap in February, costing us our appetite
- 3.9% the leap in February’s wholesale food costs source
- » Why this is a really big deal: Well, see, this is the highest one-month leap in food production costs since, umm … November 1974. So, what caused the increase? We’ll leave that one to the Labor Department: “About seventy percent of the February rise can be traced to higher prices for fresh and dry vegetables, which jumped 48.7 percent,” they write. “Advances in the indexes for meats and dairy products also were major factors in the increase in the finished consumer foods index.” So, umm … yeah. This is not a positive economic trend.