Latest Food Price Inflation Forecast In Line with Recent Trends

March 15, 2013

Another food price inflation report has been released by the United States Department of Agriculture.

USDA Deputy Chief Economist Rob Johansson says the latest report is right in line with trends noticed over the last decade.

“Even with the drought last year, the forecast right now is for food inflation in 2013 to be about three and four percent, which is about normal for the last ten years”, said Johansson.

He says the one area that has seen prices steadily increase is in the live stock category.

“Just due to the fact that they have been under a high amount of stress due to the high feed prices”, explains Johansson. “We would expect prices for those commodities to show a bit higher inflation over the next year.”

However, in the grand scheme of things, he says prices should remain relatively stable; barring any unforeseen catastrophic events.