Food prices in America are continuing to climb, and those price hikes are going to hit the pockets of Americans when it comes to celebrating Thanksgiving with a family feast this year. According to the USDA, under President Joe Biden, inflation doesn’t seem to be slowing down much and it’s hitting Americans hard, right where it hurts, in the pocket.
For many Americans, food prices have become almost unaffordable, and this year, the USDA said prices for food between July of 2021 and July of 2022 have risen 13.5%
The food-at-home (grocery store or supermarket food purchases) CPI increased 0.7 percent from July 2022 to August 2022 and was 13.5 percent higher than in August 2021, the USDA reported this week.
That increase was above the 14.1% increase, a record breaker, reported in 2021.
In 2020, the average price for a Thanksgiving dinner was $46.90. This year, it is $61.
If that’s not bad enough, the USDA said don’t expect food prices to stop climbing.
“In 2022, food price increases are expected to be above the increases in 2020 and 2021. In 2022, all food prices are predicted to increase between 9.0 and 10.0 percent, food-at-home prices are predicted to increase between 10.5 and 11.5 percent, and food-away-from-home prices are predicted to increase between 6.5 and 7.5 percent,” the USDA said. “Food prices are expected to grow more slowly in 2023 than in 2022, but still above historical average rates. In 2023, all food prices are predicted to increase between 2.5 and 3.5 percent, food-at-home prices are predicted to increase between 2.0 and 3.0 percent, and food-away-from-home prices are predicted to increase between 3.0 and 4.0 percent.”
The USDA said under President Joe Biden, food inflation is at the levels similar to the early 1970s.