A report released earlier this week warned consumers to prepare for a 15% increase as farmers are struggling to afford expensive animal feed for their stock.
Published by investment bank Robobank, the report estimates that food prices would soar to record highs by 2013, purse strings are set to get even tighter.
The US has experienced the worst drought in decades which has seen retail prices of soybean and corn rise dramatically.
As reported by LA Times, many food items will see an increase next year. Beef and veal could increase by as much as 5% and dairy products by 4.5% in 2013.
To help prepare for the inevitable squeeze, HuffPost UK Lifestyle have come up with some simple changes to get that all important healthy food for less.