Consumers face effects of soaring food prices

U.S. consumers are starting to feel the effects of the largest jump in food prices in 17 years. Food costs have been affected by increased demand from emerging markets in South America and Asia, a drought in Australia and a growing demand for U.S. wheat amid weak harvests in other wheat-producing nations. Supermarket companies such as Kroger and Safeway have raised prices, but say they haven't seen a negative impact on sales.

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