According to the USDA, shoppers should brace for food costs to surge by the end of the year.
The United States Department of Agriculture unveiled its food price outlook for 2022, which provided a bleak outlook of soaring grocery prices, with consumers potentially spending up to 4% more on food.
Kitchen staples such as dairy are expected to balloon to a 5% increase, while cereals and baked goods are expected to rise by 4%. Poultry looks to have a more dramatic change as the USDA predicts a 7% uptick. Skyrocketing ingredient costs will ultimately affect restaurant prices, which are considered to inflate to 5.5% to 6.5%
Eating out is also expected to get more expensive. The USDA predicts restaurant prices will increase anywhere from 5.5 to 6.5% this year.