Nebraskans saw about a 2 1/2% increase in food prices in 2012
Nebraskans saw about a 2 1/2% increase in food prices in 2012. USDA Economist Ricky Volpe says due to the summer drought he is predicting a 3 to 4% increase in 2013. He says we will first notice higher meat prices likely during the first quarter. Higher prices for what else we consume will follow.
Ricky Volpe, USDA Economist; "maybe in 2014."
Volpe says we saw a huge jump in grain commodity prices in 2012 due to the drought, commodities used for livestock feed so all food products animal based will increase, including milk and dairy.
As a result of the summer drought, livestock feed prices saw a dramatic increase in 2012. USDA Economist Ricky Volpe says that means we will be paying more for meat and other animal based products in 2013.
Volpe; "first half of 2013."
Volpe expects to see prices go up in the grocery store for packaged food items during the second half of 2013.
You may want to stock up as much as possible on dairy products before the end of the year. Experts say the price of milk and other dairy could double if price supports are not addressed in Congress by the end of the year. USDA Economist Ricky Volpe says the summer drought resulted in higher livestock feed prices and that is also a contributing factor.
Volpe; "higher feed prices."
Volpe expects food prices to jump 3 to 4% in 2013.
(image courtesy of stock.xchng)
(courtesy of Nebraska Radio Network)