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USDA Food Price Report Details Levels of Produce Inflation

Posted May 31, 2022
in Top Ag News

Farmers market display with various kinds of fruitA recent USDA Food Price report is indicating that retail inflation for fruits and vegetables is set to double over 2021. The inflation rate is forecasted to reach upwards of 7.5%, compared to 3.3% in 2021 and 0.8% in 2020. Fresh fruit prices are expected to increase nearly 10% this year, just three years removed from 2019 when prices saw a 1.8% decline. Vegetable prices are also forecasted to increase by 4%-5%, from 1.1% in 2021.

Restaurant prices have increased over 7% over 2021 with grocery prices reaching nearly 11% higher over the prior year.

Read more on U.S. food prices and inflation.

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