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US food prices spike

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Consumers in the US enjoy an enviable bounty: our supermarkets are filled with some of the highest-quality, lowest-cost food in the world. Nevertheless, the spike in US food prices is causing consumer concern coast to coast. Over the past year egg prices have risen almost 44 percent. Fresh milk prices are up 21 percent. Poultry and beef prices rose more than six percent. Overall food prices have spiked nearly three percent. Part of the reason is the spike in the price of crude oil, which makes it more expensive to transport and package foods.

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