The U.S. Department of Agriculture (USDA) released a report recently which details changes in food price indexes for the years 2012-2014. Astonishingly in the report, the U.S. is headed for a massive increase on certain foods in the coming months.
For example in 2012 there was a 2.6% increase in for the cost of consumer foods as a whole, raising 1.4% more in 2013. However, with farmers and meat producers across the U.S. experiencing violently harsh weather conditions, including drought, the USDA predicts another 2.5-3.5% increase in 2014, compounding yet again from previous years. At this rate, in 5-years not many will be able to afford to eat certain foods, like meats or even eggs and dairy.
Ros Krasny, writing for Reuters, reported:
Egg prices are also climbing, up 15 percent in April alone and are expected to rise by 5 to 6 percent on the year, and higher milk prices are feeding through to other products in the dairy case, particularly cheese.
Sweet lovers and caffeine addicts will see some relief, however, since global prices for sugar and coffee remain low, USDA said.
The agency forecast prices of sugar and sweets to rise by 1 percent to 2 percent in 2014 and prices for non-alcoholic beverages to rise by 1.5 percent to 2.5 percent. Both forecasts were lowered this month.
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