Paper-thin increase in grocery prices this year
Two-thirds of the way through 2017, the government says grocery prices are headed for a barely perceptible increase of 0.25 percent this year, thanks to lower red meat, egg and fresh produce prices. This year's marginal increase follows the first instance of retail food price deflation in half a century, the 1.3-percent year-on-year decline in grocery prices in 2016.
Lower poultry prices keep the lid on U.S. food inflation
The United States is headed for its fifth year in a row of lower-than-normal food inflation, with prices forecast to rise by a marginal 0.5 percent this year.
First annual decline in grocery prices since 1967
Grocery prices are forecast to rise marginally this year, following the first year of food-price deflation since 1967, said USDA’s monthly Food Price Outlook. Supermarket food prices fell by 1.3 percent in 2016, pulled down by lower prices for beef, pork, dairy and eggs, products that account for one-fifth of grocery spending.
Grocery prices to shrink by 1 percent in greatest decline since 1959
Recent declines in the retail price of beef, veal, poultry and eggs are contributing to a 1 percent drop in grocery prices this year, the largest instance of food deflation since 1959, said the Agriculture Department. Going into the final month of the year, grocery prices are running 1.2 percent below their 2015 level, thanks to the strong dollar and low petroleum prices.
USDA forecasts no rise in grocery prices this year
Overall U.S. grocery prices will not rise at all this year — the first time in four decades of records that the inflation rate would hit zero, says the Agriculture Department, pointing to the effects of low petroleum prices, the strong dollar and falling prices for beef, pork and poultry. Retail food prices were flat or fell during six of the first eight months of 2016, assuring "a rate of inflation (or possibly deflation) that would again fall below the 20-year historical average of 2.5 percent," says the Food Price Outlook.
U.S. heads for third year of below-normal food inflation
The strong dollar and low oil prices are slowing food price inflation to its lowest rate in six years, a barely noticeable 1.5 percent this year, says the Agriculture Department. And, looking ahead, USDA economists say 2017 will be the third year in a row that food inflation is far below normal.
Lowest food inflation rate in three years, thanks to meat
At the grocery store or at the restaurant, Americans will see the smallest rise in food prices since 2013, a negligible 1.5 percent, says a new government forecast. USDA economists lowered their food inflation forecast for the second month in a row to reflect falling prices for beef, pork and seafood.
Strong dollar constrains beef, poultry, dairy prices
Grocery shoppers will pay lower-than-expected prices for beef, poultry and dairy products, thanks to the strong dollar and larger meat production, said the monthly Food Price Outlook. For beef, the change in price would be dramatic — down by 2.5 percent this year after two years of steep increases.
Food inflation stunted by lower beef and pork prices
Americans will see a fourth year of smaller-than-usual increases in food prices, thanks to weaker beef and pork prices, says the monthly Food Price Outlook report.
Forecast: Minimal rise in grocery prices this year
Lower beef, pork and poultry prices will bring the fifth year in a row of lower-than-average increases in grocery prices, says the monthly Food Price Outlook.
Beef prices take a breather
After two years of dramatic increases, the grocery store price of beef is stabilizing, says the Food Price Outlook.
Grocery prices nearly flat for the year
Overall, supermarket prices will barely increase this year, the government said, although beef prices remain high and egg prices are 30-percent higher than a year ago, an after-effect of the bird flu epidemic.
Biggest one-month increase in egg prices in 42 years
With supplies crimped by bird flu, retail egg prices jumped 17.8 percent in June, "the largest month-over-month increase since 1973, and are now 21.8 percent above the June 2014 levels", said the USDA in dramatically raising its forecast of egg prices for the year.
A year of flat pork prices after 2014’s skyrocket
Pork prices in the grocery store are forecast to increase hardly at all this year, up 0.5 percent, says the USDA's Food Price Outlook, a relief for consumers after record-high prices last year. "However, pork prices [this month] are still 5.9 percent higher than last year," according to the monthly report. Hog farmers are expanding production and hog prices this year are expected to be lower than in 2014. Poultry meat is forecast to increase in price by 3 percent this year and beef by 3.5 percent.
World food prices lowest in nearly six years
Prices for the major food commodities fell by 1.4 percent during May, to their lowest levels since September 2009, said the UN Food and Agriculture Organization. Its Food Price Index, at a reading of 166.8, was down by 20.7 percent in one year.
Beef prices to rise twice as fast as U.S. food inflation rate
Retail beef prices are forecast to climb by 5.5 percent this year, double the overall rate for food inflation, says USDA's monthly Food Price Outlook. "Most retail beef prices, on average are...at record highs, even after adjusting for inflation," said USDA.