ECONOMY

Grocery prices not yet near peak

Grocery store prices won’t get better in the near term and have yet to peak at its highest levels, according to Mark Vitner, a senior economist at Wells Fargo.

Meat, seafood and bread all have become high-priced items as drought severely affected livestock counts and wheat inventories depleted by a “horrible” crop, Vitner said.

Farmers are “not inclined” to plant more wheat — rather they are more inclined to grow more corn and soybean because of higher profit margins on those items, he said.

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Grocery prices not yet near peak

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Grocery prices not yet near peak

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