Thursday, June 26, 2014

USDA Forecast: Higher Prices for Fruit and Dairy Coming

Price inflation perfect storm conditions are developing. Be prepared.

Because of the weather, the Agriculture Department said fresh fruit prices will rise between 5% and 6% this year, a sharp increase over its estimate last month of 3.5% to 4.5%.

The government also elevated its forecast for dairy prices after an especially chilly winter curbed milk output in the Midwest, and it warned that prolonged drought in California could have significant, lasting effects on fruit, vegetable, dairy and egg prices.

(via WSJ)

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