Food-at-home prices increased 11.4 percent in 2022 compared with 2021
Average annual food-at-home prices were 11.4 percent higher in 2022 than in 2021. For context, the 20-year historical level of retail food price inflation is 2.0 percent per year. In 2022, prices for all food categories increased faster than their historical averages from 2002–21. Prices for 9 food categories increased by more than 10 percent in 2022. Egg prices rose most sharply, by 32.2 percent, primarily as a result of the highly pathogenic avian influenza outbreak. Prices for fats and oils increased by 18.5 percent, poultry increased by 14.6 percent, other meats increased by 14.2 percent, and cereals and bakery products increased by 13.0 percent. Beef and veal prices rose the slowest, at 5.3 percent, following large price increases in 2020 and 2021. The 2022 price increase for beef and veal was closest to its historical average of 4.4 percent.
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