USDA: Food prices to only rise 1.5-2.5% after two years of 3.5% increase

Economists predict food prices to continue rising this year. However, it could be a slower rate than the past two years.

2020 and 2021 saw increases of 3.5 percent. This year, economists predict a 1.5-2.5 percent hike.

One USDA economist says that meats will again lead the charge on prices.

According to Matt MacLachlan, “For ’22, we’re looking at beef and veal to increase between 3 and 4 percent... For pork, we’re expecting increases of between 3 and 4 percent, and then for poultry, predicting price increase of 2-3 percent.”

However, it is early in the year, and economists say that there is a lot of uncertainty in the forecast.


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