Inflation rose 7.1% from a year ago in November 2022, easing for the second consecutive month. Moreover, the Federal Reserve’s latest economic projections show the economy growing at a pace of 0.5% in 2023.
The Food CPI index rose 0.5% in November, lower than October’s 0.6% increase. Despite the ongoing recession concerns and high prices, the demand for food remains strong. Moreover, the holiday season has bolstered food demand further. The food and beverages market is expected to grow at a CAGR of 8.7% to reach $8.90 trillion by 2026.
