Food prices have cooled in recent months. USDA analysts say several driving factors are behind the slowdown.
“We’ve seen energy prices decrease by 6.3 percent. Decent gas prices, which is a subcategory of energy, are down over 15 percent, and then prices for unprocessed agricultural commodity, so those raw products off the farm. Prices are essentially flat for those products over the year,” said Megan Sweitzer.
In 2022, grocery store food prices rose nearly 12 percent. Last year, they went up around five percent.
This year, USDA is preparing for food prices to go up just below two percent.
