Fresh produce prices skyrocketing in 2014
by: J. D. Heyes
Friday, April 25, 2014
The embattled American consumer can’t seem to catch a break. Gas prices remain high, electric rates are rising, clothing is becoming more expensive, school debt is piling up, taxes are climbing, healthcare costs have not come down and food prices — wow. Everything that costs money is rising, while wages remain flat or depressed. Does anybody in Washington get it?
Grocery prices, especially produce, are hitting new highs, and what’s worse is that we shouldn’t expect them to fall anytime soon, thanks to a number of factors (including a few I just hit on).
As noted by The Wall Street Journal (WSJ):
The cost of fresh produce is poised to jump in the coming months as a three-year drought in California shows few signs of abating, according to an Arizona State University study set to be released….
The study found a head of lettuce could increase in price as much as 62 cents to $2.44; avocado prices could rise 35 cents to $1.60 each; and tomatoes could cost 45 cents more at $2.84 per pound. (The run-up in produce prices is in line with other projections showing that overall food cost gains are expected to accelerate this year.)
Costs have been rising already, but drought is making them worse