Preventive Controls / Supplier Management / Trends / Food Safety / Grocers / Sustainability / Food Suppliers / FoodTech / Food Industry
Tips to Lower Product Costs During an Inflationary Economy
The U.S. Department of Agriculture reports that all food prices are expected to increase 7.9% in 2023, with slower growth than in 2022 but still above the historical average rates. Between January 2022 and January 2023 alone, grocery bills were 11.3% more expensive according to the Bureau of Labor Statistics Consumer Price Index. And shoppers have certainly noticed the impact to their wallets, paying slightly higher prices for their items or paying the same for less product.
