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2014 Food Price Outlook

01/13/2014

2014 Food Price Outlook

USDA's Economic Research Service forecasts normal food price inflation for 2014. Inflationary pressures are expected to be moderate, based on the outlook for commodity prices and animal inventories, as well as a continuation of decreased exports of many U.S. agricultural products.

The Consumer Price Indexes (CPI) for food, food-at-home, and food-away-from-home are expected to increase 2.5 to 3.5% over 2013 levels. This forecast is based on normal weather conditions; however, a resurgence of a drought in key agricultural areas or other severe weather events could potentially drive up food prices significantly.

For a detailed report, click here.

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