Food Prices Climbing After Frigid, Relentless Winter
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MINNEAPOLIS (WCCO) — You may have noticed higher prices at the grocery store, and you can blame the extreme weather.
Unfortunately, analysts believe prices will only go higher.
With the cold weather in much of the country, and a drought in California, farmers have produced fewer crops, creating a chain reaction.
Ranchers are paying more to feed their cows, leading to higher milk and beef prices.
The government predicts prices will jump 3-and-a-half percent this year.
“I think it’s going to be a lot higher…and that affects everything,” said Phil Lempert, the Supermarket Guru.
Last month, the price of beef jumped 4 percent. That’s the most in 10 years.
Some analysts believe milk prices will jump another 10 percent in the coming months.