Food Prices Buck Trend And Drop
Date posted - October 10, 2016
U-S-D-A economist Annemarie Kuhns says the agency’s prediction last year that food prices would rise two-to-three percent this year was wrong, as prices have stayed steady or fallen slightly, which she say is very unusual.
The U-S-D-A report says consumers are paying lower prices for beef, pork, poultry, eggs, milk and other dairy products, while the prices Iowa farmers are getting for their products are predicted to drop. Corn is down 11-percent, for example.
If prices go up overall this year, she predicts they’ll only top one-half of one-percent. The early forecast for 2017 shows grocery prices will rise one to two-percent.
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