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
Missoula lab combines controlled testing with field data to improve wildfire response
Texas ranchers and lawmakers warn of renewed New World screwworm risks, highlighting prevention efforts, border concerns, and the role of sterile flies in protecting U.S. livestock.
Farm Bureau economist Danny Munch discusses the USDA’s request for feedback on data and research, how such requests work, and what farmers should know about submitting comments before the Thursday, April 9 deadline.
Farm Bureau groups in Arkansas and Mississippi are working together to provide training and resources to rural communities.
This third-generation seafood family transitioned from shrimping and now produces millions of oysters each season along Texas’ Gulf Coast.
Georgia Ag Commissioner Tyler Harper explains the growing threat of invasive hornets in his state and what Southeastern growers should watch for this spring.
