Monday, April 20, 2015
FOOD PRICES RISING
While food price inflation averaged 2.6% a year for the last 20 years, the fourth quarter of 2014 saw grocery store food prices that were 3.5% higher than the year before, and higher than the average food price inflation. Beef and veal prices saw the largest increase, rising 18.2% from the fourth quarter of 2013, the result of historically low U.S. herd sizes and steady consumer demand. Egg (7.9%), dairy (5.3%), and fresh fruit (4.6%) prices also rose faster than other commodities.
Source: USDA, 3/27/15, Food Prices