Deere and 11 Other Stocks to Buy to Combat Rising Food Costs

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A John Deere combine working the fields. Deere, along with Starbucks, Hostess Brands, and Hershey, are among the stocks worth considering at a time of rising food costs.

Courtesy John Deere

The highest inflation in decades is hitting consumers and rippling through the food industry, from farm equipment to packaged food, grocers, and restaurants.

At-home food costs climbed 8.6% and out-of-home costs rose 6.8% in February from a year ago. Wholesale prices are up even more, signaling continued inflation at supermarkets and restaurants. The producer price index for food was up 13.4% in the year ended in February, with grains and the beef and veal category rising 20% or more.