The United States Department of Agriculture’s Economic Research Service suggests that food price inflation is on track for normal annual inflation. Relative to 2012, in 2013 prices rose considerably for poultry, eggs, fish, and fresh vegetables.
Over the past 20 years, grocery store prices have risen by an average of 2.6 per cent per year. This assessment is based on an assumption of normal weather conditions. Severe weather events could potentially increase food prices. As an example, the drought in California could have a price impact on agricultural goods that are produced within the state.
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