Wednesday, September 27, 2023
Homechart of the dayChart of the Day: Cost of food at home

Chart of the Day: Cost of food at home

Dinner is served, and with inevitable food cost inflation, consumers will want to pay more attention to grocery store prices this year.

According to a U.S. Department of Agriculture Consumer Price Index report, food prices are expected to increase by 1.25 percent to 1.75 percent, and food-at-home prices are predicted to increase by .75 percent to 1.25 percent. Meat, poultry, fish, fruits and vegetables will all see similar rises.

A bowl of cereal just became more expensive due to the increase in grain prices and the rising cost of dairy.

Beef prices will remain high due to the amount of time it takes to prepare cattle for sale and the processes of pasture recovery.

(Read more: Where's the beef? Industry at crossroads)

Not to spoil dessert but there is bad news for chocoholics. Due to tight cocoa supplies and the rise in butter for chocolate producers, this will most likely mean higher chocolate prices at the checkout counter in 2014.

—By CNBC's Izzy Best.


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