IARN — You don’t have to go very far to see prices in the grocery store have gone up. They haven’t necessarily gone up just a little bit either. There were expectations last year that we would see a small increase in costs, and that is usually to be expected. However, the originally predicted one to two percent has long been left in the dust.
Exacerbated by economic woes, the price increases are now looking at double-digit percentage increases by year’s end. USDA Economist and Food Price Forecaster Matt McLachlan forecasts the price scales every month. He says this was not what he was expecting near the end of 2021.
For more on this story visit the Iowa Agribusiness Radio Network.
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