USDA released its monthly food inflation outlook this morning. First, it’s worth noting the relative weight that each category gets in contributing to the food consumer price index. Food at home is 55.1 percent of food purchasing; food away from home is 44.9 percent of purchases.
Retail food has been on a roller coaster over the past 19 months and food service demand is transitioning.
Food prices are being driven by a suite of factors, from commodity prices to supply chain shocks, to increased consumer expenditures which at the beginning of the pandemic no one expected to be so strong. Early in the pandemic, there were distribution and processing disruptions on the supply side (think produce, meat, poultry and dairy), then...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
