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Reports that Wal-Mart Stores Inc.'s (NYSE: WMT) Sam's Club and Costco Wholesale Corp. (NASDAQ:CSCO) were placing limits on the amount of staples such as rice and flour that customers can purchase have left me stunned. It makes me think of the food rationing that went during World War II.

Food inflation is getting out of control. Prices for everything from cereal to pastries have jumped. Pizza shop owners are getting squeezed by soaring costs for milk, flour and cheese. Rice prices alone have soared 68 percent since the start of the year, according to Reuters. Think of that the next time you order takeout from your favorite Chinese restaurant. No wonder demand for Food Stamps is at a record.

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Rice shortages in America? Unbelievable originally appeared on BloggingStocks on Thu, 24 Apr 2008 11:50:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>COSTFood inflationFoodInflationinthenewsricerice shortagesRiceShortagesSams ClubSamsClubWal MartWalMartWMTThu, 24 Apr 2008 11:50:00 EST