I stopped in a food storage store yesterday to pick up a few items. Talking with the store owner, he told me that a few of his items have already gone up 30% at his cost. He also informed me that a lot of suppliers have agreements or contracts on food prices for a set period of time (like 6 months, etc). Once this set period of time is over, the price shoots up for the next contract period. His point being, we may not see a significant rise right away because of these contract periods, but we will eventually see them as the contracts begin to expire.