Outlook 2012/2013:
Food Price Inflation in 2013 expected to remain strong for most animal-based food products
Based on current conditions, USDA's Economic Research Service's inflation forecast for both all food and food-at-home prices in 2013 is for increases of 2.5 to 3.5%. This forecast means that prices are likely to increase more than in 2012, but that overall inflation is expected to be near the historical average for both indexes. Inflation is expected to remain strong, especially in the first half of 2013, for most animal-based food products due to higher feed prices. For most food categories not directly affected by the severe drought in the Midwest in 2012, inflation is expected to be at or even below normal levels
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