This year, grocery store prices will be higher from a year ago. But USDA economists say the increases won’t be nearly as bad as last year.
Economist Matt MacLacklan predicts an increase of about 6% this year. “Without a major change in trends, we don’t expect to be going over 6%", he said. “For food at home, we are expecting prices increases to be between 4.4 and 6.1%. Right now, year to date, if we were to take just the average prices we have observed from July, we’re at 4.8% compared to 2022.”
Food shoppers last year saw grocery prices increase 11.5% from the previous year. The 6% estimate for this year is on top of that increase, as prices have not come down.
For next year, USDA estimates prices will increase another 2%.
Related Stories
The Iowa cattle operation was recognized for its focus on soil health and sustainable farming practices.
Public lands advocates say the repeal could ease regulatory pressure on ranchers.
ASFMRA’s Paul Burgener shares updates on the Hunggate Fire, Panhandle wildfire conditions, infrastructure damage and potential impacts to agriculture in the region.
Smith says the measure would expand fuel choices for consumers while advancing energy independence.
Potato growers now have a fresh benchmark for comparing fertilizer, pesticide, and pest-management practices across major production states.
The latest Meat Demand Monitor shows strong retail demand for beef products like ribeye steaks and ground beef.
