Inflation Driving Up Food Costs
AFBF Staff
photo credit: Alabama Farmers Federation, Used with Permission
Food prices are up 3.7% so far in this year. The 20-year average is about 2.4%. Driving factors include labor shortages, transportation cost increases and supply chain issues. "When you go to the grocery store and it feels more expensive, that's because it is," AFBF Senior Economist Veronica Nigh told CBS MoneyWatch.
Inflation could add to the cost of holiday meals this year. Nigh stressed that while prices are increasing, the food supply remains strong, "You might pay more for it than you want, but you will be able to find it."
