Prospects for Food and Agriculture in 1975

Abstract

Consumers can expect average retail food prices to increase at an annual rate of about 10 percent in the first half of 1975, according to the United States Department of Agriculture (USDA). The projected increase is based on prospects for a slight decline in per capita supplies and a high but slowing rate of demand growth. Cutbacks in production of most animal products will lead to price increases for many of these foods, and prices of most crop foods will also increase.