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Balanced Reporting. Trusted Insights.
Wednesday, March 29, 2023
Supermarket prices rose another 0.3% last month, driven in part by jumps in the cost of beef and pork, but food inflation continues to ease from the spikes shoppers saw in 2022, the Bureau of Labor Statistics reports.
Supermarket prices rose another 0.7% last month, driven by continued increases in nearly every category in the store, and food costs are now up 13% over the past year.
USDA’s Animal and Plant Health Inspection Service is considering ways to harmonize the way producers are compensated by the department for losses of livestock and poultry.
Grocery prices jumped another 1.3% in July, led by continued increases for dairy products, baked goods and other items, and are up 13.1% over the past year, the largest increase in supermarket costs in more than 43 years.
Supermarket prices shot up a seasonally adjusted 1.4% in May, led by soaring costs for dairy products, and have risen 11.9% over the past 12 months, according to the latest Consumer Price Index.
A group of eleven senators from both parties are calling for additional funding to fight the spread of highly pathogenic avian influenza, which has so far resulted in the deaths of more than 37.5 million birds across 34 states.
FAO's measure of global food commodity prices fell slightly in April, driven by an easing of corn and vegetable oil prices, after jumping 13% the month before following the Russian invasion of Ukraine.
Representatives of the U.S. poultry industry descended in Havana last week to implore the Cuban government to loosen bans on U.S. chicken after outbreaks of bird flu in major producing states.
Poultry and egg producers are closely watching the spread of highly pathogenic avian influenza, which has already hit more states than the 2014-2015 outbreak and infected close to half the number of birds as it did seven years ago.