USDA raised an overall 2020 food price inflation outlook due to rising costs associated with COVID. Overall U.S. food price inflation is now forecast rise more than expected in 2020 as price increases seen as a result of the Covid-19 pandemic have been slow to decline.
USDA’s outlook sees food prices increasing by 2.5% to 3.5% in 2020 raises the overall inflation level well above the 20-year average of 2.3%, Most of the gains are seen in grocery stores which will further benefit organic and non-GMO food price inflation. Restaurants are expected to see inflation gains of 2% to 3% would still be under the 20-year average of 2.8%. Grocery prices have risen an average of 2% over the last 20 years, which means USDA’s outlook for a 2.5% to 3.5% rise remains nearly 33% above that historical average.
11.13.2024
Neste, Air Canada sign SAF agreement for Vancouver
Finnish transport fuel producer Neste and Air Canada have signed an agreement for the delivery of approximately 20 million gallons of sustainable aviation fuel (SAF) for use by the...
11.13.2024
CWG prices up slightly; DCO movements mixed
The US animal fats and oils markets remained mostly stable to slightly higher on Wednesday November 13, with a modest increase in trading, though many participants continued to exercise...
11.13.2024
2024/25 grain consuming animal unit headcounts increase by 0.39%
Meat and bonemeal, porcine and ruminant, Missouri River were lower on Wednesday November 13. Market sources told Fastmarkets that there are varied poultry and layer feed demand levels, with...