The U.S. Department of Agriculture released an update to its Food Price Outlook for 2022 and found that nearly everything we eat is going up in price.
As for take-out or dine-in menus, the USDA said those prices are predicted to go up between 5.5 and 6.5% for the remainder of this year.This was"the largest 12-month advance since July 1981," according to the department.
The report also noted current global events that will only add to the uncertainty of food affordability, saying,"The impacts of the conflict in Ukraine and the recent increases in interest rates by the Federal Reserve are expected to put upward and downward pressures on food prices, respectively. The situations will be closely monitored to assess the net impacts of these concurrent events on food prices as they unfold.
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