Articles Tagged with ''food inflation''

Supermarket prices jumped another 0.7% in August and are up 13.5% over the past year, helping offset the steep drop in gasoline prices.

FAO's gauge of global food prices fell for the fifth consecutive month in August, led by continued softening in wheat markets, but remained 7.9% above its level a year ago.

U.S. supermarket prices jumped 1% in June, led by continued increases in the cost of dairy and bakery products as well as fats and oils, helping fuel another 1.3% surge in the country's overall cost of living.

Supermarket prices shot up a seasonally adjusted 1.4% in May, led by soaring costs for dairy products, and have risen 11.9% over the past 12 months, according to the latest Consumer Price Index.

A measure of global food commodity prices fell slightly for the second month in a row in May, despite the continued surge in wheat markets as the war in Ukraine dragged on.

Democrats push a bill though the House Agriculture Committee that would create a special investigator's office at USDA to probe allegations of unfair marketing practices in the meat and poultry industry.

The Supreme Court announces whether it will hear arguments in three cases important to farmers, while lawmakers put a focus on water infrastructure needs and a House panel examines the impact that a shift to electric vehicles could have on U.S. agriculture.

Global demand for grain and protein is expected to remain strong going into 2022, according to several ag economists. But there are several challenges ahead including inflation, skyrocketing input prices, supply chain disruptions and uncertainty over agricultural trade. .

Food prices are expected to continue rising this year before declining to more normal levels in 2022, according to USDA's latest outlook.