WASHINGTON, D.C. (RFD News) — Increasing food prices are keeping pressure on grocery budgets and food demand.
USDA’s Economic Research Service says all food prices were 3.1 percent higher in May than a year earlier. Grocery prices rose 2.7 percent, while restaurant and foodservice prices increased 3.5 percent.
The agency, in its latest Food Price Outlook, now forecasts that all food prices will rise 3.2 percent in 2026. Food-at-home prices are projected up 2.8 percent, while food-away-from-home prices are expected to climb 3.6 percent.
Beef remains one of the strongest pressure points. Retail beef and veal prices were 12.9 percent higher than last year, with tight cattle supplies and strong demand still supporting prices.
Egg prices are moving the other direction. Retail egg prices were 35.2 percent lower than a year ago as production recovers from avian influenza losses.
