Prairie Industry Perspective - Food & Beverage - December 2022

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During 2022, the cost of nearly all food and beverages (“F&B”) in the U.S. has been accelerating. Year-to-date through October 2022 (latest available), prices for groceries rose 12.4% compared to the same timeframe in 2021, while the cost of eating out increased 8.6%. Looking at the price tag for some specific products, the cost of eggs rose 43.0% during the first 10 months of 2022, butter was up 26.7%, the bill for flour soared 24.6%, lettuce increased 17.7%, the cost of potatoes jumped 15.2% and poultry prices grew 14.9%. The charge for bread, rice and coffee each rose 14.8%.

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