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Sticker shock at the grocery store has become the norm for many American families, with food prices increasing by 11.4% in 2022. According to the USDA, an average family of four is paying $131 more per month this year, and groceries now account for 20% of an average household’s income. Since 1959 the U.S. has been a net food exporter of agricultural goods, but for the second time in the last 3 years, the U.S. will be a net agricultural food importer.
The last two years have been defined by uncertainty — a global pandemic, war in Ukraine, supply chain disruption, record inflation and skyrocketing costs from the gas pump to the grocery store. America’s agriculture sector was not spared from these challenges. In fact, despite these challenges, the nation’s farmers and ranchers continued to provide the safest, most abundant and affordable food and fiber supply to not only our nation, but also the globe.
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