Food at home (grocery store) prices are seen increasing from 0.5% to 1.5% in 2020, in line with the 2019 increase of 0.9% and a forecast that would continue the trend of grocery store prices rising less than one percent that has been in place since 2016, according to USDA. 2015 was the last time that grocery prices rose more than 1% with an increase of 1.2%.
Still, the result remains well below the 20-year average of 2%.
USDA also recalculated the 20-year averages for food items to include the 2019 data, with nine categories seeing a decrease in their averages (beef and veal, fish and seafood, eggs, dairy products, fats and oils, fruits and vegetables, fresh fruits and vegetables, fresh fruits, and other foods) while four saw increases (food away from home, pork, fresh vegetables, and sugars and sweets).
Food away from home (restaurant) prices have continued to see strong increases as they contain several other cost factors not included in grocery store prices such labor and rental prices with food making up only a small percentage of total restaurant costs.
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