Date: Apr 17, 2014
Category:
With Drought, Food Prices Expected to Rise

The effects of California’s continuing drought will soon be felt by more American consumers, according to an Arizona State University researcher. The increases are also likely to be significant enough to affect some consumer behavior.  The information released yesterday indicates categories of produce for which consumers are expected to pay higher prices due to the state’s extremely below average rainfall. 

Professor Timothy Richards of ASU’s W.P. Carey School of Business provided estimates illustrating that the biggest percentage jumps in produce prices are likely to be for avocados and lettuce, showing a 28 and 34 percent increase for each commodity, respectively.  Richard’s based his findings on retail-sales data from the Nielson Perishables Group.  Other commodity prices expected to rise are berries, broccoli, grapes, peppers and tomatoes.

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