06/06/2008 05:12 am ET Updated May 25, 2011

Food Prices To Rise 9 Percent A Year Analysts Say

U.S. food prices will rise a stiff 9 percent a year through 2012, the largest increase since 1979 and the result of record-high crop prices, the head of an economic consulting company said on Thursday.

The projections by Bill Lapp of Advanced Economic Solutions are higher than the latest U.S. Agriculture Department forecast of 5 percent for this year. USDA and Lapp have increased their estimates by 1.5 percentage points since February.

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