Food Inflation Near All-Time High, Expected to Continue

USDA raised its consumer food price inflation forecasts again this month, with all food prices now rising 5% to 6% in April, compared to 4.5% to 5.5% in March. Grocery store prices expected to increase the same amount, while restaurant prices remained even at 5.5% to 6.5% expected increase. All food price inflation is the highest it’s been since 2008.

The highly pathogenic avian influenza (HPAI) is also causing prices to rise even higher. Egg prices increased by 1.9% in March, following a 2.2% increase in February. USDA forecasts egg prices rising 6% to 7% in 2022, a big jump from their month-ago outlook that predicted a maximum of 3.5% increase.

Read more on food price inflation here.