Food prices rise after flattening in fall

USDA Economic Research Service outlines changes to food prices in final months of 2014; forecasts for 2015.

The USDA Consumer Price Index (CPI) for food was flat from October to November and is now 3.2% above the November 2013 level, USDA said in its price update last week.

The food-at-home CPI for grocery store food items was down 0.2% in November and is 3.4% higher than last November while the food-away-from home CPI increased 0.4% in November and is up 2.9% from last November.

The food-at-home CPI has increased more in the first 6 months of 2014 than it did in all of 2013; however, given its current trajectory, it is on track for normal annual inflation, USDA says.

Looking ahead to 2015, USDA’s Economic Research Service predicts that food-at-home prices will see normal to slightly lower-than-average food price inflation, increasing 2% to 3%.

To read more about food prices, click here.

 

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