Another round of increases to USDA food price inflation forecasts

摘要

USDA now expects the consumer price index (CPI) for all food in 2022 to be up 8.5% to 9.5% from 2021, the highest rate of overall food price inflation since 1979 when prices were up 11%. For food at home (grocery) prices, USDA now forecasts those to rise 10% to 11%, the biggest rise since prices moved up 10.8% in 1979. Food away from home (restaurant) prices are expected to increase 6.5% to 7.5%, the biggest increase since they rose 9% in 1981.