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Food Prices Expected to Increase

07/30/2012

( KLZA ) After the first of the year Nebraskans may have to make another adjustment in their grocery budget. USDA Food Price Analyst Ricky Volpe predicts above average food inflation in 2013. ( Play audio :08 seconds )
Volpe predicts grocery store prices for food will be up 3 to 4-percent and restaurants will increase prices about two-and-a-half to three-and-a-half-percent. The average rate of inflation is right around three-percent and that is what we experienced so far in 2012.
USDA issued their first food price inflation forecast for 2013. ( play audio :07 seconds )
Volpe says the average inflation rate is about 3-percent and that is what we've seen so far in 2012. He predicts beef prices will increase about five-percent in 2013. Cereal, milk and bread prices will likely increase four-percent.
The first food price inflation forecast for 2013 doesn't paint a very pretty picture. ( play audio :06 seconds )

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