Food prices grew steadily in 2011. U.S. consumer food prices rose more than 6% last year.
What can we expect for 2012? According to AG Today, we can expect home food prices to increase again this year on an average of 3 and 4%. Bread cereal and bakery products may see higher increases than 2011 due to higher wheat prices.
We can expect higher meat prices as well due to smaller herds, and while produce and dairy may run at an average increase of 3 to 4%, bad weather in 2012 could drive fruit and vegetable prices to higher than usual rates.