USDA predicts consumers will spend up to 4% more for food by the end of the year

Get ready for even higher prices at the grocery store.

The United States Department of Agriculture released its food price outlook for 2022, which predicts the cost of groceries will continue to rise, and consumers could be spending up to 4% more for food by the end of the year.

The agency says the cost of many kitchen staples will rise.

Dairy prices are expected to increase up to 5%, while poultry could cost 7% more. And, prices for cereals and baked goods could go up about 4%.

Eating out is also expected to get more expensive. The USDA predicts restaurant prices will increase anywhere from 5.5 to 6.5% this year.

Copyright © 2022 KABC Television, LLC. All rights reserved.

Source link

Leave a Reply

Your email address will not be published.