ROANOKE, Va. (WFXR) – The USDA reports that grocery costs have increased between 11 percent and 12 percent since last year. In 2023, those prices will still be climbing, but only by about 3 percent.
“We’re going back to what we historically have seen more over the past say 50 years,” said Dr. Nancy Hubbard, dean of the College of Business at the University of Lynchburg.
It’s a welcome reprieve for shoppers who are currently facing inflated prices for holiday meals.
“I spent what, close to $300, ham, I mean stuff like that,” said shopper Roxanne Neely.
Other shoppers said they noticed the price changes in just about every item, even just milk and eggs. One said her family was doing without the big Christmas dinner this year because it wasn’t worth the money.
While costs aren’t projected to fall next year, the 3 percent increase is a much softer hit to your wallet than that 11 percent hike seen over the past year.