The USDA is expecting flat to slightly higher prices at the grocery store this year.
USDA food price economist Annemarie Kuhns says the latest grocery store food price forecast is flat to one percent higher. Lower prices for pork, milk, fats and oils, and fresh and processed vegetables are being offset by increases in prices for beef, chicken, cereal, bakery goods, wages and overhead costs of grocery stores. “These factors are offsetting lower commodity costs and putting upward pressure on grocery store prices overall.”
If the forecast becomes negative for the year, it would the first time since the 1950s grocery store prices declined for three consecutive years.
Continue reading Grocery prices predicted flat to 1% higher at Brownfield Ag News.
