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Reuters reports on the quickly rising price of basic foodstuffs, especially since the beginning of 2008. A total of 87 volunteer shoppers in 36 states participated in a survey conducted by the American Farm Bureau Federation, which found the cost of basic food supplies in the US have increased by 8.5 percent since last year;

“An informal survey conducted by the American Farm Bureau Federation in May showed much of the increase occurred during the second quarter, when the cost of 16 grocery items — including apples, pork chops and oat cereal — was $46.67, up about 3.5 percent, or $1.64, from the first quarter.”

The AFBF found that prices rose for 14 of the 16 items reviewed, “Cooking oil and bacon showed the largest retail price increases, with a 32-oz. bottle of corn oil up 47 cents at $3.48 and one pound of bacon increasing 22 cents to $3.57,” Reuters reports. The Farm Bureau predicts that food prices will continue to climb for foreseeable future, with food prices rising another five percent by the end of the year.

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Reuters : U.S. food prices up 8.5 percent from last year: AFBF