The U.S. Department of Agriculture (USDA) has released its 2022 Food Price Outlook, giving Americans insight into how much food prices are expected to rise this year.
“All food prices are now predicted to increase between 6.5 and 7.5 percent,” the outlook said.
The cost of takeout food and restaurant meals are expected to rise between 6 and 7 percent, while at-home food will jump between 7 and 8 percent, it added.
The report summarizes the USDA’s May 2022 forecasts, including the April 2022 Consumer Price Index (CPI) and Producer Price Index (PPI) numbers.
People shop at a grocery store in New York City on May 31, 2022. (Samira Bouaou/The Epoch Times)
According to the agriculture department, significant increases in April followed similarly large changes in January through March….