The cost of ingredients for a ten-person Thanksgiving meal hit a new record this year, as estimated through the American Farm Bureau Federation’s survey. The 2021 cost was a record $53.31 ($5.33 per person), and the estimated 2022 cost surpassed at $64.05 ($6.41 per [...]
September’s U.S. Food Price Index rose 0.7 percent from August, with the highest growth again seen for prices of food from home, up 0.9 percent that month. Fats and oils, fresh vegetables, and sugar and sweets saw the fastest gains month on month. For [...]
Adjusted for inflation, FAO’s Food Price Index (FPI) fell 1 percent in September, the sixth straight down month. Year on year, the September FPI was up nearly 4 percent—significant, but a vast change from growth in 2021. The 2021 FPI was up 26 percent [...]
USDA reported food inflation of 0.8 percent in August, putting prices last month up 11.4 percent YOY. Year to date, all food inflation is up 8.2 percent from last 2021. The major categories showing the highest YTD change in 2022 include fats and oils, [...]
After a solid rally and underreporting of herd statistics in the first half of the year, corrections in USDA cow numbers, solid inventories of dried powder, and waning demand are finally bringing welcome relief to overheated dairy markets. We previously addressed the systemic underreporting [...]
FAO’s Food Price Index (FPI) fell for a fourth straight month in July, down by nearly 9 percent from June, adjusted for inflation, the steepest monthly drop, in percentage terms, since October 2008. The FPI is still up 11 percent YOY, supported especially by [...]
Although USDA typically tweaks the previous month’s dairy herd statistics, the most recent milk production figures released in July saw a much bigger adjustment. Changes were made going back many months, almost to the start of the calendar year, most months’ numbers. So, rather [...]
The June Consumer Price Index (CPI) data for June showed that pricing for all food was up 1.0 percent from May and up 10.4 percent from June 2021. For food at home, pricing is up 12.2 percent YOY. As a reminder, food prices represent [...]
