Baking ingredient prices rose in 2022

Graphic illustration of shopping lists for flour, eggs, sugar, milk, and butter, comparing average retail prices for 2021 with 2022, as well as stacked bar chart showing total costs for all ingredients.

As people sift through holiday baking recipes and head to the store, they will find key ingredients cost more this year. The total cost for five baking staples – flour, sugar, milk, butter, and eggs – was about 22 percent higher through the first 10 months of 2022 compared with the same period in 2021. A 5-pound bag of flour, 4-pound bag of sugar, gallon of whole milk, pound of butter, and a dozen eggs cost a total $16.55 in 2022, compared with $13.55 in 2021, an increase of $3.00. Egg prices increased the fastest (60 percent) and cost about $0.98 more per dozen compared with 2021, as the egg industry was affected by the highly pathogenic avian influenza outbreak. Prices for flour and butter each rose by about 20 percent, adding about $0.40 to the price of a bag of flour and $0.71 to a pound of butter. Prices increased more slowly for milk (16 percent) and sugar (13 percent) in 2022, although price increases for all products were above historical averages. USDA, Economic Research Service tracks aggregate food category prices and publishes price forecasts in the monthly Food Price Outlook data product, which predicts food-at-home prices will increase between 11 and 12 percent in 2022.

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