Food Prices Expected to Rise 2.2 Percent With Eggs, Sugar, and Beef Leading the Surge

Food inflation is expected to continue this year, with the prices of eggs, sugar, and beef rising over 3 percent. In 2023, food prices rose by 5.8 percent. This year, food price inflation is predicted to be 2.2 percent, according to an April 25 Food Price Outlook report by the United States Department of Agriculture’s Economic Research Service (USDA ERS). Food-at-home prices are expected to rise by 1.2 percent while costs of food-away-from-home are projected to jump 4.2 percent. The following food items are expected to see price increases this year: Beef and veal, 3.3 percent Poultry, 1.6 percent Eggs, 4.8 percent Fats and oils, 2.2 percent Sugar and sweets, 4.3 percent Cereals and bakery products, 0.1 percent Fresh fruits, 0.4 percent Fresh vegetables, 1.1 percent The prices of fish and seafood as well as dairy products are expected to fall by 1.6 percent in 2024. Pork prices are predicted to remain the same....