For the last 20 years, food price inflation has averaged about 2% each year; however, that shot up the past couple years. Last year they exploded up to nearly 12%. Food prices are expected to continue to rise, but not by anything close to last year. USDA Economist, Matt MacLauchlin:
Egg prices are continuing to drop, but beef has done a turnaround. It was dropping for several months, but shot up the past month due to several key factors. We’ll talk about those on tomorrow’s newscast,.
