USDA Food Price Increases Not As Steep

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 3/10^th 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.