According to a U.S. Department of Agriculture Consumer Price Index report, food prices are expected to increase by 1.25 percent to 1.75 percent and food-at-home prices are predicted to increase by .75 percent to 1.25 percent. Meat, poultry, fish, fruits and vegetables will all see similar levels of inflation.
- A bowl of cereal just became more expensive due to the increase in grain prices and the rising cost of dairy.
- Beef prices will remain high due to the amount of time it takes to prepare cattle for sale.
- Not to spoil dessert but tight cocoa supplies and the rise in butter for chocolate producers, this will most likely mean higher chocolate prices at the check-out counter in 2014.