U.S. April food prices up 1% from March, up 9% YOY

ERS estimates inflation for selected food price indexes in the U.S. was 1.0 percent in April vs. March, with inflation for food at home at 1.3 percent that month. Eggs saw double-digit inflation, up 10.3 percent from March and up 22.6 percent YOY. Dairy [...]

Surging greenback could help press pause on dollar-denominated commodities

Interest rates were increased by 50 basis points in an early-May Fed meeting, and there was strong insinuation the move would be followed by another hike of 50 points at the June meeting and perhaps several more later this year. Higher yield is attracting [...]

Slight break in world food prices in April

In April, FAO’s Food Price Index (FPI) fell slightly from March, possibly a positive sign after strong food price inflation in previous months. Adjusted for inflation, the FPI was 121.8, down about 0.8 percent from prices in March. The FPI was still up 28 [...]

Runaway prices at pump result in broken campaign promises

Over a year into Biden’s first term in office, prices for crude oil have more than doubled, moving from $50 per barrel (bbl) to over $100 per bbl, and gasoline prices have followed that same trajectory. With consumers now paying more than $4 per [...]

After falling in 2020, the cost of Thanksgiving meal rises in 2021

In its survey of the cost of a Thanksgiving meal, the American Farm Bureau Federation (AFBF) estimated the cost of ingredients for a ten-person meal at $53.31 ($5.33 per person), the highest price in the survey’s 36-year history. The 2021 estimate is up 13.7 [...]

Inflation in commodities heating up

Two releases from the government this past week stoked fears of inflation rising faster than previously forecast, with both CPI and PPI numbers exceeding expectations. Seasonally adjusted, the Consumer Pricing Index (CPI) was up 0.8 percent in April and up 4.2 percent over the [...]

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