Food prices rise, outpaced by U.S. inflation rate

Pulled by strong meat prices, September food prices were 4.6 percent higher than a year ago, said the Labor Department on Wednesday. The monthly Consumer Price Index report said the annual U.S. inflation rate was 5.4 percent in September, compared with 5.3 percent in the preceding month.

Food prices rise as U.S. inflation moderates

Beef prices were 12 percent higher than a year ago, helping to drive overall food prices upward, said the Labor Department on Tuesday. The monthly Consumer Price Index report said food prices were 3.7 percent higher but the U.S. inflation rate slowed slightly in August.

Meat and seafood pull food prices higher

Americans will see the second year in a row of larger-than-usual food price increases, with food inflation now forecast at 3.5 percent this year, following the pandemic-driven 3.4 percent increase of 2020, said USDA economists on Thursday.

Prices surge for carryout and restaurant food

Meals at full-service restaurants cost 4.3 percent more than a year ago and prices at fast food outlets soared by 6.6 percent, said the Labor Department's monthly report on inflation. The increases were the largest for either category since record-keeping began on them in 1996, said the Bureau of Labor Statistics.

Meal prices are a factor in surging U.S. inflation rate

Consumer prices rose by a larger-than-expected 5.4 percent over the past year, the biggest 12-month increase in the U.S. inflation rate since August 2008, said the Labor Department on Tuesday. Prices for restaurant meals, carry-out food, food from vending machines, and snacks were up by a strong 4.2 percent as the food service sector reopened after pandemic restrictions.

First decline in global food prices in a year

Sharply lower prices for vegetable oils, down nearly 10 percent in a month, contributed to the first decline in the Food Price Index since last May, said the UN Food and Agriculture Organization on Thursday. The index fell by 2.5 percent in June, although it was still about one-third higher than a year ago.

Highest food prices since 2011 may persist for months

After increasing for 12 months in a row during the pandemic, international food prices are the highest they've been since September 2011, said the monthly Food Price Index, released on Thursday. The index surged 4.8 percent in May, its largest monthly increase in nearly 11 years.

Food prices rise faster than overall U.S. inflation rate

The increases are seemingly small – an additional 27 cents for a pound of ground chuck at the grocery store, for example – but they are part of a brisk 3.5 percent increase in food prices since the pandemic hit the United States last March. The increase in food prices outpaced the overall U.S. inflation rate of 2.6 percent, the government said on Tuesday.

Food prices climb for 10th month in a row

Global food prices are the highest they've been since June 2014, according to a monthly index compiled by the UN Food and Agriculture Organization. The Food Price Index rose by 2.1 percent, its 10th increase in a row, said the FAO on Thursday.

Minor reduction in ag and food revenue under Paris climate agreement

Compared to other developed nations, the United States would feel little impact from climate mitigation efforts modeled on the Paris accord, said two Purdue University researchers on Thursday.