Macroeconomics Food Prices Drop Sharply in July, Down Nearly 4 Percent The average cost of food in July was down year-on-year by 3.7 percent with pork prices continuing to fall and the cost increases for other items like edible oil slowing. Last month also saw the largest decrease in the average price for food on an annualized basis since September 2017. The average cost of pork fell by 4.5 percent in July, while the average price for fresh vegetables was down by 4 percent. Meanwhile, cooking oil, dairy products, and egg prices were up by 7.2 percent, 2 percent, and 15.6 percent, respectively. However, these upticks were below the increases in June. In contrast, fresh fruit prices rose by 5.2 percent in July compared to 3.1 percent in Jun...
From WPI Consulting
Forecasting developments in production agriculture
On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.