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USDA: Food Prices Up 16 Percent

Cost of crops and livestock is up 16 percent this year compared to last year, driven higher by rising costs for feedstock and fuel, according to a U.S. Department of Agriculture report.

ST. LOUIS (AP) -- The cost of crops and livestock is up 16 percent this year compared to last year, driven higher by rising costs for feedstock and fuel.

A U.S. Department of Agriculture report released today shows that prices for farm products rose 1.9 percent in June alone.

Crops like wheat and soybeans rose 1.6 percent while the price of livestock rose less than 1 percent.

The annual report measures the price that farmers receive for their goods, not the ultimate price that consumers pay for food. Crops and livestock costs amount to a fraction of the final cost of food, after transportation, packaging and marketing costs are also factored in.

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