McLean County Farm Bureau

Food price inflation to remain high; impacts variable

Food prices are expected to grow more slowly in 2023. The latest food price outlook from USDA’s Economic Research Service projects all food prices could increase 3.5% to 4.5%, compared to 9.5% to 10.5% in 2022. Jayson Lusk, distinguished professor and department head of ag economics at Purdue University, reports stark regional differences about food spending amid skyrocketing prices. READ MORE