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GAO-23-105846 1 (2023-03-28)

handle is hein.gao/gaookf0001 and id is 1 raw text is: Why This Matters From August 2021 to August 2022, U.S. consumers saw the largest annual percentage increase in food prices since the 1980s, according to the Bureau of Labor Statistics (BLS). Increases in food prices can pose a hardship for many in the U.S., particularly low- income consumers, whose food expenditures comprise an average of 30 percent of their total income, according to the U.S. Department of Agriculture (USDA). Multiple factors along the food supply chain can affect the prices consumers see at grocery and other food stores-we refer to these prices as retail food prices throughout this report. Such stores generally represent the final segment of the food supply chain, which begins with production (e.g., farms) and includes processing (e.g., meat packers) and distribution (e.g., transporting food to stores). Several federal agencies have programmatic and regulatory responsibilities aimed at supporting the food supply chain. We were asked to examine factors affecting retail food prices. This report provides information on retail food price trends from 2013 to 2022, factors that may affect retail food prices, and various roles the federal government may play in supporting the food supply chain. This report focuses on actions taken by the Departments of Agriculture, Commerce, Justice, Labor, and Transportation; the Environmental Protection Agency; the Federal Trade Commission; and the Food and Drug Administration. Key Takeaways . From 2013 to 2022, retail food prices in the U.S. generally increased by about 2 percent per year, on average. The greatest annual increase, from 2021 to 2022, was about 11 percent, according to BLS and USDA data. Many factors that affect the food supply chain can affect retail food prices. It is difficult to determine the individual effect of any one factor on retail food prices, according to USDA officials and experts we interviewed. Some of these factors (e.g., weather) have posed long-standing challenges for the food supply chain, while others (e.g., the COVID-19 pandemic and the Russia-Ukraine conflict) have had more recent effects. These factors can also contribute to increases in prices for global agricultural commodities (e.g., wheat, corn, and soybeans), which in turn can affect retail food prices, as USDA officials emphasized. Federal agencies may indirectly affect retail food prices, such as through their efforts to support the food supply chain. For example, selected federal agencies have taken some actions, such as offering regulatory relief and other flexibilities, to address supply chain disruptions caused by the COVID-19 pandemic and the Russia-Ukraine conflict. However, agencies do not have a direct role in controlling price increases, according to agency officials. Page 1 GAO-23-105846 Food Prices Page 1 GAO-23-105846 Food Prices

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