After the United States saw record gas prices last month, consumers can also expect to pay more at the grocery store and dining out as food costs are expected to rise, the US Department of Agriculture predicts.
The USDA’s Food Price Outlook 2022, the agency’s Consumer Price Index for food which measures inflation, is up 7.9% from February 2021, the largest increase since May 1981.
In total, food prices at grocery stores and supermarkets are expected to increase 3%-4% this year after already seeing a 6.8% jump from January 2021. Restaurant purchases are also 8.6% higher than in February 2021 and are expected to jump by 5.5 %-6.5%.
The USDA noted the increase in interest rates by the Federal Reserve and the Russian invasion of Ukraine are key factors in the pressure on food prices.
“The situations will be closely monitored to assess the net impacts of these concurrent events on food prices as they unfold,” the report reads.
As the cost of a trip to the grocery store rises, shoppers can expect every food category to cost more, with prices for 11 disaggregate food categories jumping at least 1% since last month.
Here are some of the food prices expected to drastically jump later this year:
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Poultry and eggs
From rotisserie chicken to raw breasts and thighs, poultry items are expected to see the highest jump in prices, with an estimated increase from 6%-7%. Wholesale poultry products are also predicted to see a 9%-12% price increase this year.
The USDA says the biggest factor in the jump is the outbreak of the bird flu, which has been detected in 23 states and resulted in tens of thousands of avian species being euthanized.
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Fats and oils
Like poultry, fats and oil products are also expected to see a 6%-7% jump in prices. Wholesale is also expected to see a price jump of 27%-30%, the largest estimate of all food groups.
fruits and vegetables
Shoppers can see different prices of fruits and vegetables depending on how they like them.
Fresh fruit products are expected to rise 5%-6%, while fresh vegetables are estimated to have a 1%-2% jump in prices, the smallest prediction of any foods. However, processed fruit and vegetables are expected to jump 4.5%-5.5%.
In total, the aggregated cost of fruits and vegetables is predicted to increase by 3.5%-4.5%, while fresh ones are expected to rise by 3%-4%.
Drinks like soda and juices are estimated to see price increases with an expected jump of 3.5%-4.5%.
Sugar and sweets, cereal and bakery
Those with a sweet tooth and others who love their toast are expected to see similar jumps, with each category estimated to see a 3%-4% jump in cost.
Contributing: Susan Selasky, Detroit Free Press
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