Food prices in the United States increased by 10.4 percent from 2021 to 2022, according to the Consumer Price Index. This increase is higher than the 6.3 percent change in food prices from 2020 to 2021. Dallas, the Twin Cities and Baltimore were among the hardest hit cities, with prices rising 14.1%, 13.7%, and 13.5% respectively. The avian influenza, which killed 43 million egg-laying hens across the country this fall, sparked the inflation of items like eggs, which skyrocketed to $4.25 per dozen in December 2022 from $1.79 a year prior. Butter prices also spiked 27 percent in the final months of 2022 due to a decline in the milk supply, and flour prices jumped by 24.9 percent as a result of Russia’s invasion of Ukraine, which has heightened the cost for grains and fertilizers.
Fortunately, there is some good news. Wholesale egg prices have begun to drop, and retail prices usually follow. Additionally, CoBANK believes that weather conditions this year could be very good for milk production, which could help bring dairy costs down. While the rise in food prices is certainly concerning, there is hope that prices may soon start to decline.
0. “Meteoric rise in food prices slowed slightly in December – but prices are still up 10%” Daily Mail, 30 Jan. 2023, https://www.dailymail.co.uk/news/article-11693565/Meteoric-rise-food-prices-slowed-slightly-December-prices-10.html
1. “Inflation forces students to scavenge for affordable groceries” GW Hatchet, 30 Jan. 2023, https://www.gwhatchet.com/2023/01/30/inflation-forces-students-to-scavenge-for-affordable-groceries-off-campus/
2. “Pain in the pocketbook to continue during grocery shopping this year” 953mnc.com, 3 Feb. 2023, https://www.953mnc.com/2023/02/03/pain-in-the-pocketbook-could-continue-during-grocery-shopping-this-year