Ag input expenses for 2023 are up significantly. They have yet to show up at the grocery stores.
In a lot of areas prices are driven up by mandatory wage increases (”living wages”). Labor costs for fast food restaurants run about 25% of the total costs for the restaurant. If wages for workers double, then the prices have to jump by about 25% just to cover the increased costs, unless the restaurateur cuts staff to make up for the sudden shortfall. Add in the increase in supply costs due to rampant inflation and the prices rise quite a bit.