Posted on 02/11/2023 5:28:25 AM PST by EBH
Food prices are expected to grow more slowly in 2023 than in 2022 but still at above historical average rates. In 2023, all food prices are predicted to increase 7.1 percent, with a prediction interval of 4.2 to 10.1 percent.
Food-at-home prices are predicted to increase 8.0 percent, with a prediction interval of 4.5 to 11.7 percent.
Food-away-from-home prices are predicted to increase 8.2 percent, with a prediction interval of 6.7 to 9.7 percent.
Egg prices are predicted to increase 27.3 percent in 2023, with a prediction interval of 6.9 to 52.0 percent. This wide prediction interval reflects the volatility in retail egg prices.
Prices are expected to continue increasing for eight additional food categories that experienced consistent growth throughout 2022. In 2023, prices are predicted to increase for other meats (12.8 percent), dairy products (8.0 percent), fats and oils (16.5 percent), processed fruits and vegetables (9.6 percent), sugar and sweets (10.6 percent), cereals and bakery products (12.0 percent), nonalcoholic beverages (8.7 percent), and other foods (6.8 percent). The prediction intervals of each of these categories is strictly above zero.
(Excerpt) Read more at ers.usda.gov ...
Keep in mind that this is on top of the ‘22 price increases.
Volatile
Eggs last time $7.09/18. Now $4.53/18
The food inflation figures are a joke. Wife sends me to the store with a list at least once a week.
1) Food prices are up 25% to 50% over the past couple of years on a lot of the stuff we buy.
2) Not much is on sale, or the mark down isn’t nearly as much.
e.g., we’re paying $6/pound for store brand 93% fat free ground beef, we used to be able to get it for $3.50/pd (and the $6/pd is good compared to some other stores).
If you take into account the increase in prices, plus the lack of decent markdowns on sale items, it’s a double whammy.
Volatile
Eggs last time $7.09/18. Now $4.53/18
—
Very.
One store:
A month ago Jumbo (12) Eggs $8.99
Now Jumbo (12) Eggs $4.99
Hamburger is nearly as much per pd as a good steak used to be. 😳
Predictions coming from fed.gov, hemce I would double all figures.
The egg problem was not really bird flu. Input costs (feed, fuel etc.) and supply chain issues are bad and getting worse.
What ever happened to all the supply chain issues at the docks in California? Has that been rectified yet or is it still a mess?
If things fall out of the news cycle, are they gone? Were they ever real?…
where are you - just paid $9 for 18 in Los Angeles.
Eggs are now $7 a carton and ANTIFA is still burning down food processing plants. America is suffering under a violent, sadistic destabilization campaign orchestrated by the despicable communist “Democratic” Party and idiots on this forum cheer on a “Democrat” Party war of distraction 5000 miles away overseas.
American agriculture runs on diesel fuel and those sky high prices at the pump will be reflected in higher food prices. Fertilizer shortages are likely to mean lower crop yields again resulting in higher prices at the grocery store. The green zealots in the Biden administration who would ban our gas stoves and force an end to fossil fuels are clueless about where we get our food and how It is produced.
Central Ohio
Absolutely; but what were they in 2020?
Corn was $3.79/BU in 2020
It was up to $8/Bu in 2022 (if you exceeded your contract amount)
“The green zealots in the Brandon administration who would ban our gas stoves and force an end to fossil fuels are clueless about where we get our food and how it is produced.”
Your average CONSUMER is equally as clueless as to where their food comes from and what it takes to produce it.
Having LEADERS that are clueless is a double whammy. :(
Plan accordingly for you and yours.
I read the report.
Eggs will stay high for now but will DECREASE in price at the farm level in 2023.
Meat (all kinds) is predicted to DECREASE as will fresh fruit and veggies.
Wheat is dropping in price, so that helps with flour being more affordable.
All in all, not too horrible.
HOWEVER, Mother Government NEVER tells us the truth or the FACTS, so plan accordingly.
And we never know WHAT the next Government-induced crisis will be, unfortunately. :(
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