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CCFB News» Daniel Grant, FarmWeek, Senior Commodities Editor

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Special Report: Food Prices

Still on the Rise

Food costs will continue to eat away at consumers’ pocketbooks this year. USDA estimates food price inflation could increase another 8% this year after racing to its highest-level last year (9.9%) since 1979. Grocery purchases, or food at home, could experience the highest inflation this year at 8.6%, down from 11.4% in 2022. Meanwhile, prices of food away from home could increase 8.3% in 2023, up from 7.7% last year.

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