Food prices rise throughout the US but will it ever settle
Food prices are expected to start rising in the US in 2022, after a major jump between January and March. While the volatility of these prices is likely to decrease as these products move from the farm to the retail sector, the price of meat and other items is expected to increase. The rise in prices is especially likely to affect meat, especially poultry, and fish, which are already at record high prices. Several factors will likely contribute to this increase.
In 2022, restaurants and markets may find it difficult to meet consumer demand in food prices due to a variety of factors, including the disruption of the global supply chain, soaring energy prices, and other underlying issues. As a result, prices could skyrocket. Markets blame disruptions on global supply chains, weather conditions, rising energy costs, and increased demand for food. Companies fear the combination of these factors are due to the rising price of food.
With the last quarter in the US reporting 140 percent increase in profits from price hikes alone.