meat prices USA
Frozen sprinklers, an iced over fountain, and smoke from a heater working overtime.

These are all signs of the deep freeze that took over the CSRA this week.

But is this cold weather causing food prices to rise at your local grocery store?

Ricky Volpe, Research Economist at the USDA says, "Any sort of weather anomaly, unusually hot or cold or dry or wet weather is going to cause problems for the agricultural sector. So it certainly makes sense that we're going to see a short term bump in costs."

Record beef prices are already here. Just look at the grocery store prices.

But Volpe says it's more a matter of supply and demand regarding cattle. And there just isn't enough supply right now.

"Inventories are so low and have been low for so long that we're dealing with a situation of very high, structurally high prices," said Volpe.

Volpe says the cattle supply not meeting demand is having a larger impact on beef prices than the cold snap.

But he says beef prices are still forecasted to rise 2-3% this year.

"Consumers are still going to feel that because we're already seeing record prices and they're only going to inch up in 2014," said Volpe.

But Volpe says as long as the supply of cattle and feed continues to grow we should not see higher than average inflation for 2014.

Weather is the biggest wildcard when it comes to forecasting food prices for economists.

"Any sort of a truly severe weather shock. The last time we saw one was the 2012 drought that hit the corn and soybean crops of the Midwest. That's a real game changer and that' something unfortunately that we'll never see coming," said Volpe.