The U.S. Department of Agriculture (USDA) predicts grocery prices to increase 10-11% this year, due to inflation. July grocery prices were 1.4% higher month-over-month, and 13.1% higher than a year ago. Restaurant prices exhibited smaller increases than food purchased at grocery stores, however at approximately half the rate of grocery stores, increasing .7% in July, and 7.6% year over year.
The forecast also expects restaurant food inflation to be as high as 7.5% during the year with all food prices increasing between 8.5% and 9.5%.
