USDA expects all food prices to rise 2.2% this year, down from the 2.5% increase expected last month and well below the 5.8% jump in 2023. Food at home (grocery store) prices are forecast to increase 1.2%, down from a 1.6% rise expected last month. Food away from home (restaurant) prices are projected to increase 4.2%, up from last month’s outlook of 4.1%.
USDA forecasts beef prices will rise 3.3% and poultry will increase 1.6%, while pork prices are expected to be unchanged from last year. Egg prices are predicted to increase 4.8% in 2024.
