Economist warn 2014 could see the biggest food price increases in more than three years. ABC News reports new government numbers show food prices are skyrocketing. To blame? Drought in California, freezing temperatures in the Midwest, and on the country's biggest cattle farms a hangover from the 2012 drought which was the worst in 56 years. It all means the average American family could end up spending an extra 150 dollars on groceries this year.