USDA maintained its outlook for all food prices to rise 2.2% this year, with food at home (grocery) costs expected to be up 1.2% and food away from home (restaurant) prices likely to increase 4.2%.
USDA forecasts beef prices will rise 4.0%, up from 3.3% predicted last month Poultry prices are expected to increase 0.9%, down from last month’s 1.6% projection. Egg prices are predicted to increase 1.8% in 2024, down sharply from an expected 4.8% rise last month. Pork prices are forecast to decline 0.1% versus USDA’s projection for no change from year-ago last month.
