Cost of food in the United States increased 3.90 percent in December of 2020 over the same month in the previous year, and while that doesn't sound overly cumbersome per family, families are expected to spend approximately $695 per year more in groceries in 2021.
That is nearly $58 more each month in 2021 than those same families spent before the COVID-19 panic hit and food shortages began, and hundreds of thousands saw their jobs in their rear-view mirrors after states decided to deem certain businesses "non-essential," and forced them to close down.
This year's report forecasts meat and vegetables to jump by as much as 6.5%. Bakery is predicted to increase by as much as 5.5%.
Families can expect to add $695 to their overall food bill this coming year
Other key predictions in the report include price increases of 2 to 4 per cent for fruit, 1.5 to 3.5 per cent for seafood and 1 to 3 per cent for dairy, and an overall increase in restaurant prices of 3 to 5 per cent.
That is the jump expected in 2021, but that follows a massive increase for consumers from early 2020 to the end of 2020, as the chart below shows.