Consumers Paying Higher Food Prices as Corn prices Soar

By: Associated Press
By: Associated Press

Grand Junction, CO (AP) - Corn prices are as high as an elephant's eye great news for communities on colorado's eastern

But shoppers are paying for it in higher prices for many items at the supermarket. Farmers have planted more corn than at any time since World War II because of increasing demand for ethanol.

Booming Asian economies are using the money they make selling products to the US to buy corn from American farmers.

Patrick Jackman of the US bureau of labor statistics predicts consumers will see one of the most rapid increases in food prices in the last 15 years.

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