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USDA Says To Expect Higher Food Prices

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.

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