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December 21, 2007
GOOD DAY FOR: The lactose intolerant, as milk prices have risen 23.3 percent since the beginning of the year, easily outpacing the 4.7 percent increase in all food and nonalcoholic drinks. The average price for a gallon of whole milk is now $3.80, compared with $2.99 for a gallon of gas. “That’s the reason I cut down on milk consumption—so I can drive my car,” said food price expert John Norris. (CNNMoney.com)
BAD DAY FOR: Milking chocolate, after U.S. and Canadian regulators started separate probes into whether four of the world’s largest chocolate makers—Mars Inc., Hershey Co., Nestle SA, and Cadbury Schweppes PLC—had engaged in price fixing. The chocolatiers stand accused of colluding to set prices in North America to offset rising dairy costs. (MarketWatch)
of The Week magazine.