The new year will see inflation rates that will continue to impact the food industry and cause prices to rise at grocery stores across the country. Research firm IRI says food prices are estimated to rise by five percent during the first half of 2022. However, the level of increases will depend on each grocery store and its location.
The IRI report says price increases are showing up in everyday items like breakfast meats, frozen poultry, and pet food. Prices of produce like potatoes and celery are expected to increase because of higher freight costs.
Fortune.com says other factors contributing to the jump in the price of food are higher oil prices and companies that have to pass on the cost of more expensive transportation.
Major food distribution companies recently announced price hikes heading into 2022. General Mills, Kraft Heinz, and others are raising prices on candy, cereal, Jell-O, and many other products.