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Shining Light on Farm & Food Policy for 20 Years.
Friday, November 22, 2024
Supermarket prices increased slightly for the second consecutive month and are up 3% over the past year, led by a 6% hike over the past 12 months in the cost of bakery products, the Bureau of Labor Statistics reported Wednesday.
Even as the Federal Reserve struggles to get inflation under control, the agriculture and energy sectors “have gained unexpected levels of pricing power” due to lingering global supply challenges, according to a quarterly report from CoBank.
The Department of Agriculture plans to invest $500 million in the nation's meat processing capacity, but specifics on how the money will need to be determined by an upcoming public input process.
Twenty workers in meat and poultry processing plants in 19 states have died, and nearly 5,000 have been diagnosed with COVID-19, the Centers for Disease Control and Prevention said in a report released Friday.