retail news in context, analysis with attitude

The Wall Street Journal reports that while “stable food prices have been a silver lining in the weak economy,” the US Department of Agriculture (USDA) is now saying that “it expects retail food prices to increase 3.5% to 4.5% this year, after climbing just 0.8% in 2010, the slowest rate since 1962 ... The midpoint of the new USDA outlook signals the sharpest acceleration in the food inflation rate from one year to the next since 1978, and makes the increase itself the biggest since 2008, when prices rose 5.5%.”
KC's View:
And, this will be happening at the same time as the middle class is being squeezed, and outrage is growing over an increasingly skewed playing field that seems to constrict the buying power and mobility of a larger percentage of the US population.

Sounds like the definition of a perfect storm to me.