Home Indiana Agriculture News Lower Meat Prices Stall Food Inflation

Lower Meat Prices Stall Food Inflation

SHARE

Consumer food prices in the U.S. were unchanged in July, thanks largely to declining meat costs. The Labor Department reports the consumer price index for meats, poultry, fish, and eggs purchased at the grocery store dropped 0.6 percent last month, following a 0.7 percent decrease in June. Over the previous 12 months, meat, poultry, fish, and egg prices together have fallen 5.6 percent. The decline has contributed to a decrease of 1.6 percent in the index for all food consumed at home over that time span.

In July, the index for food at home fell 0.2 percent, its seventh decline in the past nine months. Prices for dairy, cereal, and bakery products fell last month, while fruits, vegetables, and nonalcoholic beverages turned higher.

Source: NAFB News Service