Next to the rent or mortgage payment, food is likely your biggest household expense. And have you noticed food prices steadily creeping into the stratosphere? A little here, some more there doesn’t seem too bad until you get through the checkout. Wow, $100 doesn’t go so far these days! But you can make it go…
Food Inflation Could Hit 9.6 Percent in 2023, USDA Says
The U.S. Department of Agriculture (USDA) predicts food prices for the year will hit 9.6 percent, according to the department’s Food Price Outlook report published in late March. Overall, food prices are expected to grow more slowly in 2023 than they did in 2022, but remain above historical average rates, according to the report. Forecasts…
Runaway Food Prices Driving Some Americans to Dollar Stores for Groceries
High food and gasoline prices are impacting where and how people across the nation are shopping for food. The cost of groceries jumped by 9.5 percent in February over last year’s prices and the average gallon of gas was $3.39. As a result, some customers at a Dollar General store in North Central Florida are…
Investing: Buy Food Stocks? We All Gotta Eat
By James K. Glassman From Kiplinger’s Personal Finance In a terrible time for most stocks, a few sectors have done awfully well. One of them: food. Archer-Daniels-Midland, the giant food-processing company, surged 39.7 percent in 2022, and General Mills returned 27.6 percent. Indeed, the food sector—which includes agriculture, manufacturing, packaged goods and grocers—has outperformed the…
Vegetable Shortages Drive Unexpected Rise in UK Inflation
Inflation in the UK rose unexpectedly last month as vegetable shortages pushed food prices to their highest rate in more than 45 years, official figures show. According to the latest data from the Office for National Statistics (ONS), the Consumer Prices Index (CPI) rose by 10.4 percent in the 12 months to February 2023, up…
Food Prices Dramatically Higher Since COVID: StatCan Figures
New food inflation figures for the month of January show that groceries are now dramatically more expensive than they were before COVID. Meat eaters in January 2023 paid 48 percent more for a striploin steak than they did in February 2020, before COVID-19 was making headlines in Canada and the country started lockdowns. Salad lovers…
Inflation Has Returned
Commentary After some encouraging news last summer and fall, many began anticipating a quick end to the economy’s inflation problem. Federal Reserve (Fed) Chair Jerome Powell even suggested that he might not have been so wrong in 2021 when he declared the inflationary pressure “transitory.” The news from January contradicts this optimism. The Labor Department…
Federal Committee Investigating Food Inflation to Summon CEOs From 3 Biggest Grocery Chains to Testify
The heads of Canada’s three grocery oligarchs will be summoned to appear before a House of Commons committee investigating food price inflation. MacGregor posted Feb. 13 on Twitter that the Standing Committee on Agriculture and Agri-Food “unanimously passed my motion to summon the Presidents and CEOs of the three biggest grocery chains in Canada: Empire,…
Most Americans Believe Grocery Prices Will Keep Rising Despite Talk Of ‘Peak Inflation’
Most Americans believe that groceries have risen drastically over the past year and expect to pay more in the future, despite economists’ talk of “peak inflation.” The latest poll by Rasmussen Reports found that 85 percent of 1,000 American adult respondents said that food prices have risen since 2022. Meanwhile, only 9 percent said they disagree, and 6…
Food Policy Prof Predicts Higher Prices for Frozen Food Once Nestlé Ends Production of Frozen Meals, Pizza
February 7, 2023
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Nestlé Canada’s decision to remove popular varieties of frozen pizza and meals from Canadian shelves in the next six months will leave the country’s frozen food aisles “in trouble” and with less competition, meaning higher prices for consumers, says Sylvain Charlebois, a.k.a. “The Food Professor.” “The freezer aisle is very busy these days, as people…
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