Friday, May 2, 2008

Surging food, fuel prices push some Americans to brink: experts

US consumers are being hammered by record fuel costs and the steepest food price spikes in 17 years, sparking a "recession diet" and pushing more Americans to seek help at food banks, a Congressional committee heard Thursday.

Experts headed to Capitol Hill to respond to lawmakers' concerns over how the United States will cope with a mounting global food crisis that has reached the country's shores and threatens to upend millions of US households.

"While we have been cringing at gas stations as gas prices have more than doubled since 2001, now it's a double whammy," said Senator Charles Schumer, chairman of the Joint Economic Committee.

"We pay more to drive to the supermarket, and then get hit with higher prices when we get there," he said as he opened a hearing on food prices impacting US families.

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