U.S. Food Prices Increased 19% Since 2022

Despite a general cooling of inflation in the U.S., food prices remain high, with a 3.1% annual increase in December, surpassing the overall inflation rate of 2.7%. Key food items like beef and coffee are driving this rise, contributing to nearly a 19% increase in food prices since January 2022. Dining out has also become more expensive, with restaurant food prices increasing 4.1% annually due to rising labor and utility costs. Although efforts like tariff cuts may help, immediate relief for consumers is unlikely.