Which Foods Will Cost More Or Maybe Even Less In 2024?
Food prices in 2023 were no joke. Eggs were just one part of it. Every week, my wife and I would compare notes: “Can you believe what chicken costs now!?!” Unfortunately, we’ll be paying even more for some of our foods in 2024. But, believe it or not, the news isn’t all bad.
According to Better Homes & Gardens, some food items will be more expensive and some less expensive in 2024. The Economic Research Service (ERS) of the USDA predicts a 2.9% increase in food prices overall. At-home food (grocery) prices will see a 1.9% increase in 2024. If you’re looking for a silver lining, that’s actually a much smaller increase that we saw from 2022 to 2023, when at-home food prices shot up by 11.3%.
Restaurant and takeout food is expected to rise by 4.3% and that’s after a year of major price hikes. Eat This, Not That! reports that ten of the most popular fast food chains all got more expensive in 2023. Five bucks doesn’t get you very far at the drive-thru anymore. I’ve found it hard to get a full meal for less than ten dollars!
Some of the factors contributing to food price inflation include weather, transportation, energy costs, labor, and rising interest rates. The best thing you and I can do is to plan meals based on whatever price breaks the supermarket is offering. Let’s look at which foods are going up in price and which one will actually come down in 2024:
Foods That May Cost More…
- Beef, veal, pork, some poultry
- Fats and oils
- Processed fruits and vegetables
- Sugar and sweets
- Non-alcoholic beverages
- Dairy products
…And Some That May Cost Less!
- Eggs
- Chicken and turkey (if avian flu is kept under control)
- Fish and seafood
- Fresh fruits and vegetables
- Cereals
- Bakery products