WEST LAFAYETTE, Ind. (WFLI) – The 2012 drought caused grocery store prices to rise considerably, but thanks to better weather in 2013 experts said grocery costs are starting to smooth out.
Purdue ag economist Chris Hurt said total food costs have increased about one percent, but certain food will have a significant change in cost.
Hurt said the current population of beef cows in the U.S. is the lowest it’s been in more than 50 years. Beef prices have jumped nearly six percent from last year. Hurt said more expensive feed costs due to the drought have caused the shortage.
Hurt said he also expects record-high prices for pork products this year due to a new virus, which has killed many piglets.
Hurt said egg prices have also increased by about six percent this year due to higher demand.