Here’s how food prices in the United States are expected to vary in 2023, according to the BLS

Food prices varied throughout 2023 in the United States, primarily due to high inflation rates.

Based on their detailed analysis, the Bureau of Labor Statistics (BLS) released its annual report.

The report showed that inflation as measured by the consumer price index rose 0.3% in December after rising 0.1% in November.

Meanwhile, compared to CPI inflation in December 2022, inflation in 2023 fell by 3.1 percentage points. The decline in December 2022 was 6.5%, which is higher than the 3.4% recorded in December 2023.

food prices in 2023

BLS research found that the food index increased 2.7% in 2023 and the household factor increased 1.3% in the most recent 12 months.

For example, rates on cereals, bakery products and non-alcohol beverages increased by 2.6% from December 2022. Meanwhile, the fruit and vegetable index rose 0.3% despite the decline recorded last December.

Meanwhile, the Dairy and Related Products Index declined 1.3% during the year. Meat, poultry, fish and eggs fell 0.1%. Despite the increase in egg prices in December.

The BLS analysis accurately reflected December’s figures as well. The food index rose 0.2% in the last month of 2023, the same as November.

This aspect in the house increased by 0.1% during the month analyzed, the same as in the previous month.

Four of the six major food group indices representing supermarkets and grocery stores increased during December.

The meat, poultry, fish and eggs index rose by 0.5%, leading the price of eggs to rise by 8.9%.

The BLS also noted in its report that the other foods household index rose 0.1% and the non-alcohol beverages index rose 0.2% in December. Prices of dairy and related products rose 0.3%.

The grain and bakery products index decreased by 0.3% in relation to the fall in prices. Ultimately, the Fruits and Vegetables Index fell 0.1% in the above mentioned month of December.