Heads-Up, The USDA Says These Grocery Store Staples Are About to Be More Expensive
Poultry and dairy products are on the rise.
Like seemingly everything else, including the essentials such as gas, chicken tenders, and beer, the rest of your grocery list is about to get even more expensive. According to the USDA, inflation is only getting worse, and it's affecting "all food prices."
In fact, Successful Farming is reporting that food inflation is at its highest peak since 2008, with poultry, fats, and oils among the most significant price upticks and dairy products trending upward as well.
"Food price increases are expected to be above the increases observed in 2020 and 2021," the USDA said in its monthly update on the Food Price Outlook for 2022, per Food & Wine. "All food prices are now predicted to increase between 4.5 and 5.5%; food-away-from-home prices are predicted to increase between 5.5 and 6.5 percent; and food-at-home prices are predicted to increase between 3.0 and 4.0 percent."
Granted, these trends remain in flux due to the Russian invasion. And while inflation impacted your expenses prior, things have only gotten much worse since.
"The impacts of the conflict in Ukraine and the recent increases in interest rates by the Federal Reserve are expected to put upward and downward pressures on food prices, respectively," the USDA added. "The situations will be closely monitored to assess the net impacts of these concurrent events on food prices as they unfold."