If you've been to the grocery store lately, you know a dollar doesn't go as far as it used to.
You certainly don't need a government report to tell you that groceries are getting more expensive - but just how much more will you be paying at the checkout counter?
The U.S. Department of Agriculture has released estimates for 2022, which show food prices going up between 5% and 6%. Restaurant prices will also go up 5.5% to 6.5%.
According to the Food Price Outlook 2022, some of the biggest price spikes are in the dairy aisle. Eggs and dairy products are predicted to increase by as much as 7%. Fats and oils are expected to surge by 8.5%.
It will definitely cost to be a carnivore in 2022 as meat prices are expected to climb across the board. The biggest spike will be on poultry, expected to rise between 7.5% and 8.5%. Beef and veal prices will go up between 6% and 7%, and pork will go up between 4% and 5%. Fish and seafood prices are predicted to increase between 5% and 6%. Other meat prices could see an increase between 3.5% and 4.5%.
Produce will be up between 4% and 7% with the price of fruits seeing a bigger hike than vegetables. Processed fruit and vegetable prices will also increase between 5.5% and 6.5%.
Other increases include cereal and bakery product up 6.5%, sugar and sweets up 6% and nonalcoholic beverages up 5%. Other food prices could increase between 5.55% and 6.5%.
Since the pandemic started, groceries have seen a sharp increase.
In 2020, food prices went up 3.5%. The largest price increases were for meat categories: beef and veal prices increased by 9.6%, pork prices by 6.3%, and poultry prices by 5.6%. The only category to decrease in price in 2020 was fresh fruits, by -0.8%.
In 2021, food prices again went up 3.5%. Beef and veal had the largest relative price increase (9.3%) and the fresh vegetables category the smallest (1.1%). No food categories decreased in price in 2021 compared with 2020.