Higher food prices to continue in 2023

Any thought that food prices might fall back any time soon may have had some water thrown on it by the latest United States Department of Agriculture’s (USDA) Food Price Outlook.  

According to the USDA, food prices are expected to grow more slowly in 2023 than in 2022, but it will still be at above historical average rates.  

The Consumer Price Index (CPI) rose by 0.8 percent from December 2022 to January 2023 and was up 6.4 percent from January 2022.

The CPI for all food increased 0.7 percent from December 2022 to January 2023, and food prices were 10.1 percent higher than in January 2022.

USDA reports grocery store and supermarket food prices were up in January by 11.3 percent from a year ago. Restaurant purchases, according to the report, rose 8.2 percent from January of last year. 

USDA Food Price Outlook

Bob Bakken

Bob Bakken is the most recognized and most trusted name in DeSoto County news and sports reporting, as readers continue to express their appreciation for his accuracy and fairness in the stories he writes. Bob is also heard on 95.3 The Rebel twice a week with sports updates and high school football play-by-play broadcasts in the fall. A former newspaper editor and writer, his award-winning background also includes television news producing, sports media relations, and radio broadcasting.

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