Experts are predicting what popular grocery items will cost more or less in 2024.

The Economic Research Service for the United States Department of Agriculture (USDA) is forecasting what foods will cost more or less in the new year.

ShopRite of Elmsford, NY Grand Opening
Bill Denver

The forecasts are primarily based on the U.S. Department of Labor, Bureau of Labor Statistics (BLS) Consumer Price Index (CPI) and Producer Price Index (PPI) data, officials say.

Food That's Expected To Cost More In 2024 In New York State

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Food That's Expected To Cost Less In 2024 In New York State

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Officials hope the U.S. food industry is heading into a period of deflation after three years of punishing price hikes. Since the start of the pandemic food prices increased by 25 percent.

The pace of food inflation has slowed in recent months, but food prices are still going up, as prices rose nearly 3 percent between November 2022 and November 2023.

Walmart's CEO recently said the US food industry could be heading into a period of deflation.

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