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
Donald Chase of Chase Farms joined us to discuss drought conditions, planting progress, input costs, and the outlook for Georgia agriculture.
Ag Secretary Brooke Rollins hints at new fertilizer plan while trade deals, soybean markets, and farm bill momentum drive ag policy discussion.
U.S. Department of Agriculture Restructuring Aims to Improve Government Efficiency and Better Serve American Farmers
U.S. Rep. Greg Landsman and U.S. Senator Elissa Slotkin meet with Ohio farmers to discuss E15 expansion, rising input costs, trade concerns, and the need to move forward on a new farm bill.
South Texas producers remain on alert as screwworm concerns grow; sterile fly efforts underway to prevent spread.
Effort aims to reduce wildfire risk and restore forests
