Food prices in the United States increased at a slower 10.4% from a year earlier in December of 2022, decelerating from a 10.6% rise in November and a peak of 11.4% in August. It was the lowest reading since June of 2022, as prices slowed down further for both food at home (11.8% vs 12% in November) and food away from home (8.3% vs 8.5%). source: U.S. Bureau of Labor Statistics
Food Inflation in the United States averaged 3.46 percent from 1914 until 2022, reaching an all time high of 36.70 percent in May of 1917 and a record low of -34.30 percent in June of 1921. This page provides the latest reported value for - United States Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Food Inflation - values, historical data and charts - was last updated on February of 2023.
Food Inflation in the United States is expected to be 9.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Food Inflation is projected to trend around 3.50 percent in 2024 and 2.10 percent in 2025, according to our econometric models.