Sticker shock at the supermarket: Food prices poised to rise
If there's any silver lining to a recession -- albeit a thin one -- it's that consumer prices typically go down. Make no mistake, deflation is a sign of a sick economy, but at least the net effect of cheaper prices for the basic necessities -- food, clothing and shelter -- helps folks get by when they are struggling to make ends meet.
But consumers should brace themselves for things to change, especially at the supermarket. As the global and U.S. economies emerge from the downturn, economists predict that there is going to be some sticker shock at the checkout line. Food prices, they say, are heading higher and when you combine that with an unemployment rate that's expected to linger near a three-decade high for at least another year, it's even more unwelcome news.