The rise in food prices in 2023 may be more than previously expected. In December USDA Economist Matt MacLauchlan said we could expect a rise of 31/2 to 4%. That may have been a bit optimistic. MacLauchlan says the news is not quite as good. New modeling software predicts price increases of 4.5-11.7% He says there are several factors to take into account.
MacLauchlan says as we move farther into the year and they have a better handle on the variables, the predictions range could narrow.