Don’t expect your grocery bill to get lower anytime soon.
USDA officials are predicting food prices to go up by a total of 5% in 2022 – the highest single-year surge since 2008. The agency bumped up its annual projection after seeing price jumps “across many of the food categories” over the last two months.
They project fruits and vegetables to go up 4%, dairy products to increase by 4.5%, and poultry costs to rise by 6.5%.
March Food Price Outlook — In 2022, food-at-home prices are predicted to increase between 3.0 and 4.0 percent, and food-away-from-home prices are predicted to increase between 5.5 and 6.5 percent. Learn more: https://t.co/oVwsglYewO.— Economic Research Service (@USDA_ERS) March 25, 2022