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Shining Light on Farm & Food Policy for 20 Years.
Monday, August 19, 2024
Supermarket prices were broadly steady in February as lower costs for dairy products, fruits, pork and chicken offset increases for beef, eggs, sugar and other products.
The UN Food and Agriculture Organization’s index of global food commodity prices eased again in January, led by lower prices for grains and meat, and is down 10.4% from a year ago.
Grocery prices rose just 0.1% in December for the second month in a row and are up 1.3% year over year as food inflation continues to moderate, according to the latest Consumer Price Index.
Global prices for food commodities fell last month and ended the year 10% below their level in December 2022, the UN Food and Agriculture Organization reported Friday.
Supermarket prices rose just 0.1% in November as lower costs for beef, pork and poultry offset higher prices for fruits, vegetables, cereals and bakery products, the Bureau of Labor Statistics reported Tuesday.
Lower turkey prices this year will help soften the cost of preparing Thanksgiving dinner this year compared to 2022, with the total price of the food down 4.5% to 9%, according to a pair of surveys.
In an inflationary environment, food prices tend to shoot up like rockets and come down like feathers, and food economists believe that will continue to be the case in keeping food prices from going down heading into the holidays and 2024.
Supermarket prices rose 0.1% in September as the increased cost of beef, pork and milk masked price declines in many other products. It was the smallest increase in the cost of eating at home since June.