Food Costs A Major Worry

Consumer food inflation has been running at a 5.3% annual rate in the past three months, the Labor Department says. The largest price increases are white bread 16%, milk 13%, eggs 35%, bananas 17% in 12-months.

Economists predict a third of the US corn crop will be diverted to government subsidized ethanol production.

Americans devote about 10% of take-home pay for food.