Food prices increasing but not as fast as other items in the economy
Food prices continue to go up, but not as fast as other items in the economy.
The Consumer Price Index, released last week, showed an increase for all items. It is up 5 percent compared to a year ago and saw the biggest jump since 2008.
Numbers are better for food prices though, increasing 0.3 percent from April to May this year.
A USDA economist shares how most of the food price hikes were at the meat counter.
“We saw a 3.7 percent increase in the price of beef and veal from April to May 2021. We saw a 1.2 percent increase in the price of pork; 1.9 percent increase in the price of poultry,” according to Carolyn Chelius.
Meat demand is up of course because of restaurants opening and grilling season beginning this summer.