How will you know inflation's back?
Snap, crackle, pop: inflation?
The Consumer Price Index may be DOA at the moment, but the price of cereal is a killer.
The prices of corn and other grains are as high as elephant's eyes. So cornflakes and other breakfast cereals are enough to bowl you over. General Mills instituted price hikes last fall, for instance, and according to the Bureau of Labor Statistics, cereal and bakery products rose 1.1 percent just between December and January.
Dutta crunched some numbers, however, and says that, if there's cause for solace, it's that consumer food prices are "rising, but not at nearly the same pace as food commodity prices are."
But others say that respite can't last forever. And changing your breakfast routine may not help, either. The category that includes eggs was up 6.2 percent in 2010, or roughly four times the index.