Why is the cost of food rising?

in Food/News

KNOXVILLE, Tenn. (WVLT) – Expect to pay more for food now, whether you shop the grocery store to cook at home or pay someone else to prepare it. Federal statistics on food costs show consumer costs going up.

According to the Consumer Price Index for the Southeast, “The food index edged up 0.3 percent in May. The food away from home and the food at home indexes each increased over the month, up 0.5 percent and 0.2 percent, respectively. The food index rose 1.7 percent for the 12 months ending in May, reflecting increases in the food away from home (3.0 percent) and food at home (0.8 percent) indexes.”

University of Tennessee Associate Professor of Economics Matthew Harris said you can expect prices to stay up for at least the next few months. “The folks at the USDA saying that they expect moderate increases through the rest of the year,” said Harris. “Beyond that kind of wait and see.”

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