FOOD PRICES ON THE RISE


Wholesale prices for 2021 leapt over those of 2020, at 5.5 percent and 1.3 percent respectively. The picture for the year ahead is not much better, with the majority of the basics seen increasing by between 1 percent and 5 percent. And at publication time, the BLS had just announced a rise in food at home prices of 5.4 percent, already beating the year-to-date.


WHOLESALE FOOD PRICES ARE ON PACE FOR STRONGEST ANNUAL INCREASE SINCE 2014 Producer Price Index for All Foods—Historical Growth Rate


5.5% 5.5% 2.2% 2.2% 1.7% 1.6% 1.3%


-0.1% -2.0% -4.0% 2012 2013 Source: Bureau of Labor Statistics Note: Figures represent the average change in prices paid to domestic producers for their output 2014 2015 2016 2017 2018 2019 2020 2021* *Year-to-date through August


PROJECTED 2022 GROWTH RATES IN WHOLESALE FOOD PRICES High-Low Forecasts for Prices Received by Domestic Producers


5.0% 2.0% 4.0% 5.0% 4.0% 3.0% 2.0% -1.0% 1.0% 2.0% -1.0% 0.0% -2.0% Beef Pork Poultry Eggs Dairy Fruits Source: U.S. Department of Agriculture, Economic Research Service, September 2021 projections MARCH/APRIL 2022 ARGENTUM.ORG 11 Vegetables Wheat Flour Fats & Oils 1.0% 5.0% 5.0%


2.0%


2.0%


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