Laura Heller reports on twelve general categories of merchandise where we can expect prices to rise:
Right. Blame it on the drought. Now I'm not disputing the word of those who claim that there was a drought in some part of North America, last summer, but where I live we had rain every single day for seven weeks that summer, so I'm not terribly sympathetic to any claims based on this drought. If somebody did have too much sunshine, they should've shared it with me.
Then another thing I've noticed...a good growing season does not cause prices to fall, proportionately to the way a bad season causes them to rise.
In Virginia, according to the Department of Agriculture, 2012 was a very good year for peanuts with farmers getting an average of 200 pounds per acre more than they harvested in 2011. Virginia farmers planted more corn and harvested less per acre, but Virginia's corn production, overall, was only about 15% lower than last year. Soy production didn't change. Cotton production increased by an average of 312 pounds per acre.
Be sure to look for the reduced prices on all your cotton clothing and linens, and on peanuts, in the next year, Gentle Readers. (Ha. Ha...snarky, mirthless laugh here.)