Retail food prices will jump more than the U.S. Department of Agriculture’s estimate of 3 percent to 4 percent this year, said Chad E. Hart, an economist at Iowa State University in Ames, Ia., according to Bloomberg News.
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Editor’s Insight: The U.S. economy is not going to pull out of the recession any time soon. Economists say that a recovery is under way, but they admit that it is a historically weak recovery.
Consumer confidence was showing some signs of improvement in the fourth quarter of 2010, but rising fuel and food prices have tempered that. VendingMarketWatch has noted that refreshment service providers can and should point out that they offer some of the best values for meals and refreshments available. By appealing to consumers’ need for better value, refreshment service operators can compete successfully in today’s economy. 05-31-11 by Elliot Maras
