Prices at the Grocery Store Expected to Continue to Increase Through 2022
It’s something we have all noticed as we have gone to the grocery store, everything seems to be costing more lately. Recently a few coworkers and I were discussing how buying steaks have almost doubled in price over the past year or so. We can sit and complain about prices all day long, which I am pretty good at, but that isn’t going to change anything. The real question is are we going to see prices go down anytime soon. According to the U.S.D.A. Economic Research Service both in home and away from home (going out to eat) prices will continue to increase at least through 2022.
Food prices from July 2021 to August 2021 went up 0.4% which might not seem like a lot but it all adds up. Looking at prices year over year from August 2020 to August 2021 food prices were 3.7% higher. The highest price increase according to the U.S.D.A. information has been pork with a price increase of 5.4%, the smallest price change was fresh vegetables with a 0.5% increase. There have been no food categories that have decreased in price when comparing 2020 numbers to 2021.
Meat Prices Are Increasing Faster Than Other Foods
Experts are predicting that meat prices will continue to increase for the remainder of 2021. In total you should expect beef and veal products to jump to between a 5% and 6% increase when comparing rates to last year. Pork products are expected to increase 6% to 7% year over year. Egg prices have jumped quite a bit too, with a 1.6% increase just from July to August in 2021.
It’s Going to Continue to Cost You More and More at the Grocery Store
Sharing these facts with you are not meant to stress you out or make you angry. It’s just a heads up that food costs are expected to continue to increase. So, don’t be shocked when you go to the store and the prices continue to go up.