The January 2025 Food Price Outlook released Friday shows while food price inflation has slowed overall, key sectors like eggs and beef remain volatile due to supply chain and input cost pressures.
Egg prices saw the biggest spike, according to USDA’s data, up 37% year-over-year. But the U.S. Bureau of Labor Statistics data shows the price of Grade A eggs in December was up 93% since January 2024. And when you look ahead, USDA expects outbreaks of highly pathogenic avian influenza to continue to cause egg prices to climb.
When it comes to USDA’s specific outlook released Friday, the agency uses recent trends in food prices based on Consumer Price Index (CPI) and Producer Price Index (PPI) data through December 2024.
Key Highlights of the report include:
Overall inflation trends:
Food prices increased by 2.5% year-over-year as of December 2024
Food-at-home prices rising by 1.8% and food-away-from-home prices increasing by 3.6%.
By Jim Wiesemeyer and Tyne Morgan
January 24, 2025
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