Inflation has had a hold of the economy for nearly three years, and it is directly impacting how consumers navigate grocery stores.
A study by Purdue University shows inflation is causing more consumers to seek out deals, and they are switching to cheaper or generic brands. 56 percent of consumers reported their food prices have risen the most compared to other household expenses.
This month’s Consumer Price Index showed food inflation was up a little more than 2 percent on the year.
Related Stories
Farms should identify key roles and begin leadership succession planning well ahead of any transitions—expected or unexpected.
Seasonal beef production gains may moderate retail price pressure, while tight cattle supplies continue supporting producer values.
Higher rail fuel surcharges could add cost pressure even as wheat production falls and grain movement remains active.
The Washington State Tree Fruit Association says crop quality looks promising despite ongoing drought conditions.
New Fed surveys show farmland values remain historically high, though some Upper Midwest markets are beginning to soften.
Fred Seamon with CME Group joins us to discuss the latest Ag Economy Barometer and the key economic pressures shaping producer sentiment in May.
