The U.S. Department of Agriculture predicts we will be paying more for food when dining out or eating in this year. “All food prices are expected to rise,” according to the USDA’s Food Prices Outlook for March 2022. The increases are the highest in decades and rose nearly 9% for the year, says USA TODAY.
Grocery prices are expected to rise between 3% and 4% says the USDA, and that includes all food categories such as meats, poultry, eggs, dairy products, fats, oils, and more. The price of fresh vegetables, however, is expected to have the smallest increase in price while beef and veal will have the largest price growth.
One of the contributing factors for the rise in eggs and poultry prices is avian influenza.
“An ongoing outbreak of highly pathogenic avian influenza could contribute to poultry and egg price increases through reduced supply or decrease prices through lowered international demand for U.S. poultry products or eggs,” said the USDA report.
The Russian invasion of Ukraine and increases in interest rates by the Federal Reserve are also driving food prices higher, says USA TODAY.
“The impacts of the conflict in Ukraine and the recent increases in interest rates by the Federal Reserve are expected to put upward and downward pressures on food prices, respectively. The situations will be closely monitored to assess the net impacts of these concurrent events on food prices as they unfold,” the report said.
According to The Guardian, global food prices soared to their highest levels in March as a result of the invasion. Cooking oils, cereal and meats hit all-time highs and food commodities cost a third more than the same time last year, says the United Nations Food and Agriculture Organization’s monthly food price index published Friday.
While including more vegetables and fruits into your diet has always been beneficial to your health, now it can also save you money.
Susan Levin, a registered dietitian and director of nutrition for the Physicians Committee for Responsible Medicine, tells Newsmax that we should “eat the colors of the rainbow” to boost the immune system.
“The pigments that give fruits and vegetables their bright colors represent a variety of protective compounds. Eating plant-based foods plays an important role in reducing the risk of breast, prostate, and other forms of cancer. They also boost heart, brain, eye and bone health and fight inflammation,” she says.
And Dr. Joel Fuhrman, author of Eat for Life, tells Newsmax that switching to a plant-based diet will also help reduce global pollution and increase longevity.
“All the major studies have shown that foods such as beans and legumes, nuts, and seeds, and of course all vegetables increase your life span,” he says. “And these are the same foods that won’t hurt your pocketbook.”
According to CNBC, here are more ways to avoid getting gouged on groceries.
• Plan out your meals. When you plan your weekly meals and stick to the shopping list you are more likely to buy the items you need. Also, plan around the weekly specials advertised.
• Buy store brands. Generic brands are usually much cheaper than premium or name brands of grocery items.
• Choose strategically. Buying in bulk often saves money, so joining a wholesale club such as Costco or BJ’s will often give you the best price on items you can store. Consider buying frozen vegetables and fruit over fresh when you can. They are nutritionally sound and often much cheaper.
• Pay with the right card. Pay with a credit card that gives you the most back on groceries or invest in a new grocery rewards card. CNBC’s Select has a roundup of the best cards for food shopping along with APRs and annual fees.