Gas and food prices stretch household budgets - WALB.com, Albany News, Weather, Sports

Gas and food prices stretch household budgets

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March 11, 2008

Albany -- Your household budget likely is being stretched by high gas prices. And you're taking another hit by the rising cost of food.

The prices of staples such as bread, milk, eggs and flour have risen sharply. Milk prices increased 26-percent in the past year. The price of eggs jumped 40-percent.

Wholesale prices for fruits and vegetables are also up 20-percent.

"Now I have to budget more with food. You can tell that the prices of food has gone up a few cents, but when you get to the counter it makes a difference, said business owner, Tamika Anderson.

The average household spends three times as much on food as they do on gas. So an increase in food prices could present a bigger problem than soaring oil prices for the national economy.

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