Food Inflation Is Here

On March 4, I published a story in FreeMarketCafe titled "The Inflation Drought Is Over." Specifically, I mentioned coming food inflation as a cause for higher prices. 

We only had to wait a month.

The headline in Reuters today: "U.S. import prices rise on surge in food costs"

The story: 

The Labor Department said on Thursday import prices increased 0.6 percent last month after an unrevised 0.9 percent rise in February.
Economists polled by Reuters had forecast import prices rising 0.2 percent in March.
Last month, import food prices jumped 3.7 percent, the biggest rise since March 2011, after falling 0.7 percent in February. Imported fuel prices rose 1.2 percent last month after advancing 5.3 percent in February.

Stay tuned.