Food Price Outlook

Grocery inflation rate in 2024 forecast as lowest in five years

In its first forecast of 2024 food costs, the government said grocery prices would climb by a modest 0.9 percent next year. If so, it would be the lowest annual grocery inflation rate in five years and mark the end of the period of high food inflation that followed the pandemic. Also on Tuesday, USDA economists lowered their forecast of grocery price inflation for this year for the fifth month in a row.

Grocery inflation slows, again

For the third month in a row, the USDA lowered its forecast of grocery price inflation this year. The monthly Food Price Outlook estimated that grocery prices would rise by an average of 6.3 percent this year, compared to 11.4 percent in 2022.

Beef and pork prices retreat while grocery prices climb

Grocery prices will rise 7.8 percent this year, three times the usual pace for food inflation albeit slower than in 2022, said USDA economists in the monthly Food Price Outlook.

High food inflation to persist in 2023

The 9.9 percent food inflation rate of 2022 will be followed by a 7.1 percent rate this year, the highest rates in three decades, said USDA economists on Wednesday. Egg prices were forecast to rise 27 percent this year, on top of a 32 percent increase in 2022.

USDA raises forecast of grocery inflation in 2023

Grocery prices will rise 3.5 percent in the new year, nearly double the long-term average but a dramatic slowdown from this year’s 11.5 percent, said the Agriculture Department Thursday in its Food Price Outlook.

USDA raises food inflation forecast for fourth month in a row

Bird flu outbreaks are driving up egg and poultry meat prices far faster than usual, with eggs expected to cost 20 percent more and poultry 9 percent more this year than their 2021 averages, said the Agriculture Department on Wednesday.

Meat prices are going up but not as fast as in 2021

Beef and pork prices are going up again this year but the increases will not be as severe as last year, said the USDA on Tuesday. The monthly Food Price Outlook reported that beef and pork prices would rise by 3.5 percent for the year, and that "Upward pressures on meat prices are expected to ease in the latter half of 2022."

Poultry and seafood prices advance, keeping food inflation above normal

Prices for many categories of food have been slow to retreat from pandemic-driven peaks, said the USDA. As a result, seafood and poultry prices throughout the year will be higher than usual, bolstering the USDA forecast that grocery prices will rise by 3 percent this year.

Meat prices fall for first time this year

After soaring because of coronavirus outbreaks among packing plant employees, meat prices are on the decline for the first time this year and are headed lower, said the USDA on Tuesday.

Food prices forecast to decline to longterm average in 2021

Grocery prices will rise a modest 1.5 percent in 2021, close to the long-term average and half of the larger-than-usual increase expected this year, said the USDA in its first forecast of food inflation in the new year.

Largest annual increase in grocery prices since 2011

Grocery prices will rise by a higher-than-average 3 percent this year, due largely to the coronavirus-propelled surge in the cost of meat, poultry, and fish at the supermarket, forecast the USDA on Thursday. It would be the largest annual increase since 2011. (No paywall)

Biggest rise in restaurant and takeaway food prices in a decade

Although U.S. food prices generally show small increases from year to year, the USDA says prices for "food away from home," a category that includes restaurants, carry-out food and institutional meals, rose 3.1 percent in 2019. That's the largest increase since 3.5 percent in 2009 and is part of a pattern in which the price of food away from home rises more rapidly than retail prices for groceries.

Grocery price inflation is becoming less volatile

The United States is headed for the fifth year in a row of lower-than-average increases in grocery prices, part of a longer trend of smaller and less volatile changes in food inflation, said two USDA economists.

Marginally higher beef prices at the grocery store this year

Cattle prices are stronger than expected this year but they they are likely to run below 2017 levels, with the result that retail beef prices rise modestly, at most, said the monthly Food Price Outlook. The United States is headed for the third year in a row of lower than average food inflation - 0.5 percent compared to the 20-year average of 2.1 percent annually.

U.S. heads for fourth straight year of low grocery-price inflation

Grocery prices will rise by a nearly invisible 0.5 percent this year and a modest 1.5 percent in 2019, estimated the USDA’s monthly Food Price Outlook on Thursday. If the forecast proves true, 2019 would be the fourth year in a row that supermarket prices rise at a much slower rate than the usual 2.1 percent annually.

Halfway through the year and food inflation is negligible

Americans are headed for the fourth year in a row of lower-than-normal increases in food prices, according to the USDA’s Food Price Outlook. The monthly report estimated that prices will rise by just 1.5 percent this year.

Popular U.S. produce helps hold down food inflation

Lower prices for tomatoes, potatoes, and apples — three of the four most popular fruits and vegetables sold in America — are helping to hold down food price inflation, according to a government forecast.

U.S. sees first two-year streak of food deflation since 1950s

Grocery prices are down for the second year in a row, the first multi-year run of food deflation since the mid-1950s. In its monthly Food Price Outlook, the USDA credits the strong dollar for the year-on-year decline in grocery prices of 1.3 percent in 2016 and 0.2 percent in 2017; only the seventh and eighth years, respectively, of deflation since World War II.

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