Certainly will in California. The most immediately noticeable was meat prices, which are double or more what they were a couple of years ago excepting pork, which is presumably coming from somewhere else. Eggs have also gone nuts ($6.50/dz. last time I bought them), but I think that's more related to legislation about the treatment of chickens on farms. I'm hardly an insider, but the most long term concern seems to be about fruit trees, particularly stone fruits and almonds , which require large amounts of water and may not recover at all. Everything has gone up a bit- it will at any excuse- but annual vegetables, berries and the like seem to be holding fairly well.
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