SOURCE: USDA’s Bob Ellison
A USDA economist says Americans will be paying more at the grocery store in 2013.
“Inflation’s going to pick up in 2013 over what we have seen in 2012. So we are looking ahead at a year of above normal food price inflation,” says economist Ricky Volpe of USDA’s Economic Research Service.
Volpe says to expect food price inflation of 3% to 4% in 2013. He says the drought affecting two-thirds of the nation is partly to blame.