Going into 2024 Texans can expect some price changes in grocery stores. But will it be a good thing for consumers? Experts are here to help.
Though pandemic-era inflation eased slowly this year, certain products still spiked in price, leaving families to improvise their weekly shops. Plus, global conflicts and extreme weather events made certain foods more expensive or increasingly sparse throughout the year.
The United States Department of Agriculture is predicting our grocery bills will decrease slightly next year. That’s according to its most recent consumer price index report.
Which Grocery Store Products Will Be More Expensive in 2024?
The ERS predicts a 2.9 percent increase in food prices overall and only a 1.9 percent increase for at-home food prices.
The report shows beef prices could increase 48 cents for every $10 we spend. Chicken may increase 22 cents for every $10. Pork is expected to decrease 13 cents for every $10. Fish could go up slightly at about eight cents for every $10.
Fruits are expected to increase only slightly.
Cereal and bakery items are expected to go up 0.6%.
Non-alcoholic beverages may cost you 28 cents more for every $10 spent.
If you eat away from home, like at a restaurant, that may cost you $4.90 more for every $100 spent.
Which Grocery Store Products Will Be More Cheaper in 2024?
Starting with the average grocery bill, the USDA predicts it will decrease 60 cents for every $100 we spend. That is broken down into multiple food categories you can buy in the grocery store.
Eggs could decrease by 12 percent. That means if eggs were $3 a dozen, it could go down to $2.64. Dairy products will go down 12 cents for every $10 spent.
Vegetables will decrease slightly.
Taking a look at inflation, according to federal data including the consumer price index, inflation has slowed consistently through the summer to now at about 3%.
The USDA will release its next food price forecast on Jan. 25.