A food economist says the rate of food price increases is starting to moderate.
David Ortega with Michigan State University tells Brownfield that doesn’t mean prices will revert to pre-pandemic levels.
“Consumers are seeing some relief, for example, egg prices—those have come down, but overall food prices remain elevated,” he says. “And so we’re still seeing consumers trading down, seeking out sort of cheaper alternatives.”
USDA reports food at home prices have increased more than seven percent in the latest food price outlook but are down from more than 11 percent in 2022.