Inflation rose at 0.1 percent in August, against the market’s expectation of a 0.1 percent drop. For the year, inflation is up 8.3 percent since August 2021, which is a slight decline from the June record of 9.3 percent and the July 8.5 percent.
Food inflation was up 0.8 percent on the month – the eighth consecutive monthly increase. On a year-over-year basis, food was up 11.4 percent, the largest 12-month increase since May of 1979. Food at home was up 13.5 percent year-over-year, while food away from home was up 8 percent.
Fats and oils and sugars and sweets lead the increases in the food at home category; meats and poultry decreased from previous highs.
In the protein category, there wer...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
