Data from the latest USDA Food Price report showed a 6.3% increase in December food prices from 2020 to 2021. Restaurant prices jumped 6% year over year with grocery prices following suit at 6.5%. Both jumped 0.6% and 0.4%, respectively, from the November 2021 report. Overall, for calendar year 2021, USDA-tracked grocery prices jumped 3.5% and 4.5% for restaurants.
USDA projections for 2022 see the trend continuing, with grocery price increases between 1.5-2.5% and restaurant prices jumping even higher to between 3.5% and 4.5%.
View the full USDA Food Price report here and more analysis here.
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