The Four Biggest Food Price Hikes of 2011
Global food prices went up in general last year. But “Good Housekeeping” magazine came up with a list of the BIGGEST price hikes. And some of the items are used in pretty much EVERYTHING, so it’s a big deal.
Here are the top four:
#1.) Cooking Oil. Soybeans are one of the major ingredients. And in 2011, the price of soybeans skyrocketed, which drove up the price of cooking oils by about 11%.
#2.) Potatoes. Because of seed shortages, a cold spring, and twice the average rainfall in some spots, the price of potatoes went up 11.9% last year.
#3.) Eggs. The price went up almost 23%. The good news is they’ve always been pretty cheap. So unless you own a restaurant (or go through a TON of eggs) it shouldn’t affect you that much.
#4.) Nuts. Between April 2010 and April 2011, the wholesale price of almonds, walnuts, pecans, cashews, brazil nuts, pistachios, peanuts, and macadamias increased by 36%.
The price of peanut butter also jumped 25 to 40%, depending on the brand.