Today’s Lead Story
Thursday, May 28Inflation
USDA Raises Grocery Inflation Forecast to 3.2% as Beef and Produce Costs Surge
via USDA Economic Research Service
The USDA lifted its 2026 food-at-home forecast to 3.2% annual growth, up from an earlier estimate of 2.4%, after April data showed the biggest one-month grocery price jump in nearly four years. Fresh tomatoes are up roughly 40% year-over-year and beef prices are up 14–18%, with tariff-driven wholesale inflation expected to push store prices even higher by mid-summer.
Why it matters
Households should expect their grocery bills to keep climbing through summer as price spikes already baked into the wholesale supply chain take 60–90 days to reach store shelves.
