NEW YORK—Americans may soon be shelling out more greenbacks for groceries as the economy starts to rebound and food prices inch higher.
According to a recent New York Times article, the U.S. Department of Agriculture (USDA) predicts prices for “food at home,” a category that includes purchases at grocery stores, convenience stores and farmers’ markets, will rise 2 percent to 3 percent this year. Last year, USDA said prices for food at home rose 6.4 percent, the highest jump in nearly two decades.
“We do expect some price increases with the recovering economy,” said Ephraim Leibtag, a senior economist at USDA. “Our numbers here imply there has to be some additional inflation in the next six months to get out of the negatives we’re in right now.”