Lower transportation costs from farm field to grocery store shelf means we’re paying less for food.
“We are hearing, sometime this fall, that meat prices are going to go up. Estimates are anywhere from five to seven percent.”
Higher corn prices have pushed overall food inflation up this year. Corn is an ingredient in everything from animal feed to cereal to soft drinks.
The U.S. Agriculture Department said Thursday that the size of this year’s corn crop will be 92.3 million acres.