Articles Tagged with ''food inflation''

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. 

Supermarket prices ticked up 0.3% in October, according to the latest Consumer Price Index from the Bureau of Labor Statistics.

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.

Prices for globally traded food commodities fell in August on declines in the cost of dairy products, vegetable oils and other products, reversing an increase the month before.

Supermarket prices ticked up 0.3% last month, driven by a jump in the cost of beef as well as increases for some fruits, vegetables and dairy products, according to the monthly Consumer Price Index.

Supermarket prices were flat in June, as the falling cost of dairy products helped offset some increases in beef and chicken prices.

A gauge of global food commodity prices fell again in June, led by declines in the cost of grains and vegetable oils, and is now more than 23% off the March 2022 peak that followed Russia’s invasion of Ukraine.