Macroeconomics Food Inflation Falls for Fourth Straight Month Average food prices continued to decline in May as the cost of fresh vegetables, fresh fruit, and eggs for consumers were down from a year ago. Meanwhile, the average price for pork, which has continued to increase, rose at a lower rate than in previous months. Across the board food prices were up 10.6 percent from May 2019. That marks the smallest increase since last August. Pork prices at the consumer level ticked up 81.7 percent in May compared with May 2019, but that represented a decrease from April prices, which were up year-on-year by 96.9 percent. Fresh vegetables, fresh fruit, and eggs fell on an annualized basis by 8.5 percent, 19.3 percent, and 12.3 percent, respect...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.