According to a recent release by the Bureau of Labor Statistics, food prices increased from September 2020 to September 2021. All food increased by 4.6 percent with food away from home higher at 4.7 percent. Within the food at home segment, beef and veal increased by 12.6 percent, pork by 17.6 percent and poultry 6.1 percent. Eggs increased by 12.6 percent although the comparison is based on a low base in 2020 with over-production relative to demand.
In forecasting food price increases in 2022, the Bureau of Labor Statistics estimates all food will increase in a range of 2.0 to 3.0 with food at home from 1.5 to 2.5 percent. Red meat will increase by 2.5 percent, poultry by 1.5 percent and eggs will be stable in price.