USDA forecasts all food prices will increase 5.8% this year, within a range of 5.4% to 6.2%. Food-at-home (grocery) prices are predicted to increase 5.1% (range of 4.6% to 5.8%. Food-away-from-home (restaurant) prices are predicted to increase 7.1% (range of 6.9% to 7.4%.
In 2024, all food prices are forecast to increase 2.2%, with USDA using a range of -2.6% to 7.3%. Food-at-home prices are predicted to increase 1.6%, (range of -5.5% to 9.5). Food-away-from-home prices are predicted to increase 4.3% (range of 1.9% to 6.8%).
