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.
02.21.2025
US animal fats and oils markets finish week strong; broader uncertainty persists
The US animal fats and oils markets ended Friday February 21 on a relatively quiet note, though broader market developments throughout the week have added ongoing uncertainty to the...
02.21.2025
Sausage casings bulletin, February 21, 2025
Runner market commentary
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02.21.2025
US weekly net soybean meal exports, sales retreat again
In the week to February 13, US net soybean meal and soybean cake sales and exports continued to decline but were above most analysts' estimates, data released by the...