Rate of food price inflation could ease in 2022
March 9, 2022
By Daniel Grant
Shoppers and diners might see some relief from food price inflation in 2022 after absorbing steep price increases the past year.
But prices for many items likely won’t go down any time soon.
USDA’s Economic Research Service (ERS) predicts the consumer price index (CPI) for all food could increase 2% to 3% in 2022, down from the 2021 forecast of 3-4%.
The CPI for all food increased another half percentage point from October to November and climbed 6.1% higher than November 2020, which marked the highest food price inflation since 2008.
“No food categories have...