Although nationwide inflation is starting to cool, higher prices at the grocery market are still putting pressure on the average American shopper.
Food-at-home prices, which cover food purchases at grocery stores and supermarkets, have increased significantly since the COVID-19 pandemic began in 2020, according to a new report from the U.S. Department of Agriculture’s Economic Research Service. The agency’s recently published food price outlook indicates overall food-at-home prices increased by 11.4% in 2022 and another 5% in 2023. Current statistical models forecast a more modest 1.3% increase for 2024, but each jump — no matter how small — can create significant strains for those shopping on a budget.
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