Rising Food Prices

The drought this year has caused major problems for the nation’s farmers and ranchers. That means consumers will be seeing the effect of the drought as well. Most of us are already bracing ourselves for those inevitable higher grocery bills. The U.S. Department of Agriculture is saying that overall food prices will probably rise three to four percent next year. So what should consumers stock up on now in order to help save money down the road? With the corn, wheat and soybean crops all taking a major hit from the drought in the Midwest experts suggest stocking up on flour, cereals, breads, cornmeal, cornstarch, and other storable products containing corn, soy and wheat would probably be a very good idea. If you are fortunate enough to have a chest freezer in addition to your regular kitchen freezer, stocking up on meat, dairy, and frozen fruits and vegetables wouldn’t be a bad idea either, since the drought has affected these producers as well. But don’t let the Y2K mentality take over either. While there will be increases in food prices, a dramatic spike in food prices that causes panic and rationing at the grocery store is not in the near future.