USDA Ratchets Up Food-Price Forecast
U.S. Department of Agriculture has sharply raised its 2022 forecasts with the latest CPI projections. Overall, the agency now expects food prices to rise 5% to 6% this year -- at least double the forecast of about 2.5% three months ago. Other categories with big increases compared with last month’s outlook are eggs, beef, poultry, and vegetables. Read more here.