(PHOTO CREDIT: GETTY IMAGES)
FROM CNN's Jack Cafferty:
Food inflation in the U.S. is at its highest level in 17 years and might get worse.
The rising cost of everything from milk to eggs to chicken is hurting many Americans – especially the poor. It's also tough on businesses, like bakeries and delis, who have to explain price increases to their customers.
Last year, U.S. food prices rose 4%. That's compared with an average 2.5% increase for the last 15 years. And the government says that 2008 could be even worse, perhaps as high as 4.5%.
For many poor people, costlier food means having to give something else up in order to eat. The Food Bank of New Jersey says the sticker shock could cause some of the poorest Americans to go hungry. They say a family of 4 is eligible for a maximum $542 a month in food stamps. They say that never lasted the whole month before and now lasts for even fewer days.
The price jumps for various foods are due to many factors, including higher commodity costs for things like wheat, corn, soybeans and milk along with higher energy and transportation costs.
And these higher costs aren't just an issue here at home. Economists say that in Bangladesh, for example, 30 million of the country's 150 million people could be going hungry. In Haiti, the prime minister was booted over the weekend due to food riots.
Here’s my question to you: What's the answer to rapidly rising food prices?
Interested to know which ones made it on air?
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