Pexels / Oleg Magni
A recent USDA Food Price Outlook for 2022 – 2023 predicts higher food cost.
For many Ohio residents, the food budget is thin. In 2023, that budget may need to stretch even further.
Food prices nationwide — including grocery and restaurant purchases — are predicted to jump 3.5-4.5% next year, according to the U.S. Department of Agriculture’s latest Food Price Outlook. Specifically, the outlook forecasts food-at-home prices to increase 3-4%, while food-away-from-home prices are expected to rise 4-5%.
Although those prices may sound hard to swallow, they’re not as bad as those the USDA reported last year. Food-at-home prices increased by 12% percent from 2021-2022, while away-from-home prices increased by 8.5%.
The reason for this year’s rising prices are in line with last year’s, according to the federal data: supply chain issues, Russia’s ongoing war with Ukraine and restaurants trying to recoup pandemic losses.
The bottom line for Buckeye foodies is that we’re in for another year of opting for lunch specials and skipping the appetizers and boozy drinks.
Coming soon: Cleveland Scene Daily newsletter. We’ll send you a handful of interesting Cleveland stories every morning. Subscribe now to not miss a thing.
Follow us: Google News | NewsBreak | Instagram | Facebook | Twitter