The Washington Post recently reported that grocery prices have jumped 25% in the last four years, outpacing the overall inflation of 19%, with sharp jumps for beef, sugar and juice.
Nelson says egg prices have been volatile because avian influenza took a toll on bird populations last year.
“Across the board, with our grocery prices, we’re still seeing pressures from the high input costs that farmers face. That, combined with the inflationary pressures that are still hanging on, are giving us this scenario, where we’re still seeing some prices rise in the grocery stores.”
The Washington Post recently reported that grocery prices have jumped 25% in the last four years, outpacing the overall inflation of 19%, with sharp jumps for beef, sugar and juice.
Nelson says egg prices have been volatile because avian influenza took a toll on bird populations last year.
“They’ve come back down as we’ve seen these outbreaks kind of dial back, but we’re still seeing some supply issues, due to avian influenza that have kind of driven things back up in the $2, $2.20 average range.”
Nelson says whether it’s high input costs or food security, Congress passing a new farm bill could address both.
“We need a farm bill to provide that safety net for when farmers end up in hard times. So, whether it be from a natural disaster, lower prices, higher input costs.”
Nelson says beef prices are stable for now, but might hit record highs by next year, based on the lowest inventory of cattle and calves since 1951. Higher processing plant and grocery store wages and post-pandemic shipping costs plus Russia’s war with Ukraine have also spiked food prices, including for grains and vegetable oils.
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