Some Iowa farmers may welcome the news but consumers won’t be thrilled — or surprised — to hear predictions that food prices will be rising in 2015, according to a report from the U.S.D.A.
Agency economist Annemarie Kuhns says overall supermarket prices rose about 2.5% last year and we can expect more of the same in the year ahead.
“In 2015, we’re expecting grocery store prices to rise 2 or 3%,” Kuhns says. The U.S.D.A. Food Inflation Forecast details how beef prices are up about 19% from a year ago and those prices will likely continue to climb still-higher. “We are forecasting beef and veal prices to rise 5 to 6%,” Kuhns says. The report predicts pork prices and dairy prices will also rise 2 or 3%, along with fresh vegetables, too.
Kuhns says, “It’s going to be a lot of the items around the perimeter of the store, some of the meats, produce, that will see slightly higher-than-average inflation than a lot of the goods within the center aisles, the non-perishable goods, cereals, bakery products, sugars and sweets and non-alcoholic beverages.”
Look for changes on the menu at your favorite eatery, as well. The survey predicts restaurant prices will be rising an average of three-percent over last year.