Stagflation Alert

Wheat Price Rises to Record $9 a Bushel on Global Crop Concerns
Rising prices of food, from wheat to milk and pork, are stoking inflation at a time when traders expect the U.S. Federal Reserve to cut interest rates to bail out the housing market and avoid a recession. Wheat prices more than doubled in the past year, increasing costs at Sara Lee Corp. and Premier Foods Plc.

``The market is in a real frenzy,'' said Tobin Gorey, commodity strategist with Commonwealth Bank of Australia Ltd. in Sydney. ``It's feeding through to the consumer.''

Stagflation: Rising prices, slowing growth.