Food prices continue to climb, but USDA Economist Matt MacLachlan says the climb is more like before COVID. MacLachlan says the increase from January to February was 3/10th of 1% and from February of last year to this year up 10.2%. the year over year increase is slowing.
MacLachlan says that while we can expect a slower increase in prices, don’t expect them to go backwards.
Nationally, he says food prices could rise about 8% this year.