Retailers cut food prices slightly

September 8, 2009 5:24:18 PM PDT
People have cut back on their spending and now grocers are responding.

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The Labor Department says retailers are slashing food prices to compete for customers.

Fruit, vegetables, dairy, meat and bread prices have all come down.

The price index for food is down .5 percent for the most recent month, and is down almost 1 percent from a year ago.

However, this recent reduction doesn't make up for the surge in food prices last year when both gas and food prices skyrocketed.

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