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Foods that will be more and less expensive in 2024

Blurred abstract image. Goods on the shelf of a grocery store. Meat and sausage products

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According to Better Homes & Gardens, some food items will be more expensive and some less expensive in 2024. Most shoppers still have major price fatigue with the rising price of food items for the past couple of years even though inflation eased slowly, but some items will actually be more expensive in the year to come. The good news is that some will get less expensive. 

The Economic Research Service (ERS) of the USDA predicts 2.9-percent increase in food prices overall and a 1.9 percent increase in at-home food prices and restaurant and takeout food is expected to rise by 4.3 percent. Beef and veal are expected to increase by 7.8 percent, pork at 3.6 percent and poultry, fish, and seafood are also expected to rise. Additionally, look for increases in fats and oils, processed fruits and vegetables, sugar and sweets, nonalcoholic beverages, and dairy products. 

The only good news is that some items are predicted to be cheaper in 2024. Eggs are expected to go down in price after prices that increased nearly 50 percent in the past and chicken and turkey could go down in price depending upon the contagious disease of HPAI, highly pathogenic avian influenza which may be controlled or may not. Other foods that could decrease in price are fresh fruits and vegetables, some fish and seafood, cereals, and bakery products. 

Dr. David P. Anderson is a professor of agricultural economics at Texas A&M University and says that factors including transportation, energy costs, climate labor, rising interest rates, and others all contribute to the price of food items, so cross your fingers that some of these factors will be better controlled in 2024. He recommends always being informed and looking for deals to mitigate rising costs and take advantage of items that may have lower prices in the coming year. 

Source: Better Homes & Gardens


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