The US Department of Agriculture is warning that food prices are expected to keep climbing this year. USDA Chief Economist Seth Meyer says in 2022, food prices climbed 11-12 percent. Meyer says for 2023, the increase will continue, but is expected to be at a slower rate. He says prices at the farm level are very strong, and there are other factors that affect the prices.
The food price increases are expected around 3-4%