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New Year Resolutions What do you need to change? Real Talk With Amiri
USDA ERS - Summary Findings
Consumer Price Index for Food (not seasonally adjusted)
The all-items Consumer Price Index (CPI), a measure of economy-wide inflation, decreased by 0.1 percent from October 2022 to November 2022 and was up 7.1 percent from November 2021. The CPI for all food increased 0.2 percent from October 2022 to November 2022, and food prices were 10.6 percent higher than in November 2021.
The level of food price inflation varies depending on whether the food was purchased for consumption at home or away from home:
- The food-at-home (grocery store or supermarket food purchases) CPI did not change from October 2022 to November 2022 and was 12.0 percent higher than November 2021; and
- The food-away-from-home (restaurant purchases) CPI increased 0.5 percent in November 2022 and was 8.5 percent higher than November 2021.
In 2022, food price increases are expected to be above the increases in 2020 and 2021. In 2022, all food prices are predicted to increase between 9.5 and 10.5 percent, food-at-home prices are predicted to increase between 11.0 and 12.0 percent, and food-away-from-home prices are predicted to increase between 7.0 and 8.0 percent. Food prices are expected to grow more slowly in 2023 than in 2022, but still at above historical average rates. In 2023, all food prices are predicted to increase between 3.5 and 4.5 percent, food-at-home prices are predicted to increase between 3.0 and 4.0 percent, and food-away-from-home prices are predicted to increase between 4.0 and 5.0 percent.
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By AmiriUSDA ERS - Summary Findings
Consumer Price Index for Food (not seasonally adjusted)
The all-items Consumer Price Index (CPI), a measure of economy-wide inflation, decreased by 0.1 percent from October 2022 to November 2022 and was up 7.1 percent from November 2021. The CPI for all food increased 0.2 percent from October 2022 to November 2022, and food prices were 10.6 percent higher than in November 2021.
The level of food price inflation varies depending on whether the food was purchased for consumption at home or away from home:
- The food-at-home (grocery store or supermarket food purchases) CPI did not change from October 2022 to November 2022 and was 12.0 percent higher than November 2021; and
- The food-away-from-home (restaurant purchases) CPI increased 0.5 percent in November 2022 and was 8.5 percent higher than November 2021.
In 2022, food price increases are expected to be above the increases in 2020 and 2021. In 2022, all food prices are predicted to increase between 9.5 and 10.5 percent, food-at-home prices are predicted to increase between 11.0 and 12.0 percent, and food-away-from-home prices are predicted to increase between 7.0 and 8.0 percent. Food prices are expected to grow more slowly in 2023 than in 2022, but still at above historical average rates. In 2023, all food prices are predicted to increase between 3.5 and 4.5 percent, food-at-home prices are predicted to increase between 3.0 and 4.0 percent, and food-away-from-home prices are predicted to increase between 4.0 and 5.0 percent.
Support the show