WASHINGTON (RFD-TV) – Consumer prices rose faster than expected in August, with the Consumer Price Index (CPI) increasing 0.4 percent on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported Thursday. That brought annual inflation to 2.9 percent, up from July’s 2.6 percent.
Food and shelter were the biggest drivers. Grocery prices jumped 0.6 percent last month, while restaurant meals rose 0.3 percent, pushing food inflation to 3.2 percent over the year. Housing costs climbed 0.4 percent in August and are now up 3.6 percent compared with a year ago.
Energy prices rose 0.7 percent, led by gasoline, though natural gas costs fell. Core inflation, which strips out food and energy, increased 0.3 percent in August and 3.1 percent year-over-year.
The report also showed increases in airline fares, used cars, and apparel, while medical care and recreation costs edged lower.
The inverted Choice-Select spread is not a strong warning sign in today’s tighter, higher-quality beef market, according to new analysis from Terrain.
National Pork Producers Council President Rob Brenneman joins us to discuss Prop 12 provisions in the House’s Farm Bill as it heads to the Senate for debate.
U.S. Cattlemen’s Association President Justin Tupper joins us to discuss the DOJ packer investigation, industry competition, and the outlook for cattle producers.
Practical changes to retailer stocking standards promote more options all while reducing fraud and abuse in the Supplemental Nutrition Assistance Program
USDA Chief Economist Justin Benavidez says the cattle industry may be nearing a turning point that could gradually reshape supply, prices, and profitability in the years ahead.
Federal officials are signaling a more aggressive push on beef packer concentration, but any direct market impact will depend on what the investigation actually finds.
