Thursday, January 27, 2011

USDA 2011 Consumer Price Index

The U.S. Department of Agriculture's Economic Research Service has released its 2011 Consumer
Price Index analysis for projections on food prices.

According to the index, overall food prices are expected to increase 2% to 3% this year.

Food purchased from grocery stores as well as food-away-from-home (restaurant) prices are forecasted to increase 2 to 3 percent.

Although food price inflation was relatively weak for most of 2009 and 2010, higher food commodity and energy prices have recently exerted pressure on wholesale and retail food prices.

As a result, higher prices are projected to push inflation toward the historical average inflation rate of 2 to 3 percent in 2011.

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