On Wednesday, the U.S. Department of Agriculture (USDA) partnered with bipartisan attorneys general in 31 states and the District of Columbia in an effort to protect consumers in the food and agricultural markets, including in grocery, meat and poultry processing. The department explained in an official announcement that the recent deal "will assist state attorneys general in tackling anti-competitive market structures in agriculture and related industries that are raising prices and limiting choices for consumers and producers."
Food prices reached an all-time high last summer, with a 13.5% annual increase in August 2022. Although inflation fell to 3% in June, offering consumers some relief from recent price hikes, food prices at the grocery stores are still quite hefty at a 4.7% increase.
