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Shining Light on Farm & Food Policy for 20 Years.
Friday, April 26, 2024
The cost of eating at home was unchanged for the second straight month in March as lower prices for dairy and grain products offset higher costs for beef, pork, chicken and eggs.
USDA is struggling to manage sugar supplies amid soaring domestic and international prices and a drought that continues to devastate Mexican growers, slashing the amount they can export to U.S. food and candy manufacturers.
Supermarket prices were broadly steady in February as lower costs for dairy products, fruits, pork and chicken offset increases for beef, eggs, sugar and other products.
The UN Food and Agriculture Organization’s index of global food commodity prices eased again in January, led by lower prices for grains and meat, and is down 10.4% from a year ago.
Grocery prices rose just 0.1% in December for the second month in a row and are up 1.3% year over year as food inflation continues to moderate, according to the latest Consumer Price Index.
Global prices for food commodities fell last month and ended the year 10% below their level in December 2022, the UN Food and Agriculture Organization reported Friday.
Supermarket prices rose just 0.1% in November as lower costs for beef, pork and poultry offset higher prices for fruits, vegetables, cereals and bakery products, the Bureau of Labor Statistics reported Tuesday.
Lower turkey prices this year will help soften the cost of preparing Thanksgiving dinner this year compared to 2022, with the total price of the food down 4.5% to 9%, according to a pair of surveys.
