Sales of Spam rise as consumers trim spending

"Love it, hate it or laugh at it — at least it's inexpensive. Sales of Spam — that much maligned meat — are rising as consumers are turning more to lunch meats and other lower-cost foods to extend their already stretched food budgets.

What was once cheeky, silly and the subject of a Monty Python musical, Spam is now back on the table as people turn to the once-snubbed canned meat as costs rise, analysts say.

U.S. food prices rose 4 percent last year, the fastest pace in nearly two decades, according to the Agriculture Department. Many staples are rising even faster, with white bread up 13 percent last year, bacon up 7 percent and peanut butter up 9 percent.

There's no sign of a slowdown. Food inflation is running at an annualized rate of 6.1 percent as of April, according to the Bureau of Labor Statistics.

The price of Spam is up too, with the average 12-ounce can costing about $2.62. That's an increase of 17 cents, or nearly 7 percent, from the same time last year. But it's not stopping sales, as the pork meat in a can seems like a good alternative to consumers."

http://www.msnbc.msn.com/id/24861341/

The world is going crazy. First it's gas prices, and now its food. When will these rising prices stop? I guess as gas prices go up, then the prices of everything else goes up. I really hope it stops. The cost of living has gone up way too much in recent years.