Posted- October 31, 2011
Beef Prices in the United States will be leading the food price increases as the holidays get closer and closer according to the USDA's latest Consumer Price Index for Food. Meat prices in general are climbing faster than those of other food categories this year, averaging "8 to 9 percent higher" then in 2010. The latest Comsumer Price Index for Food from the USDA shows that food prices are going up by "3.5 to 4.5 percent, while meats, poultry and fish are up 5.5 to 6.5 percent."
The report says that commodity and energy prices are pushing wholesale and retail food prices upwards. As the planet's population increases, additional demand for food will drive prices up further. For the coming year, food prices will depend "on factors such as weather conditions, fuel prices and the value of the U.S. dollar."
Original article available here: http://www.cattlenetwork.com/cattle-news/latest/Beef-leads-food-price-increase-132738093.html
USDA/ERS CPI for Food Report: http://www.ers.usda.gov/Briefing/CPIFoodAndExpenditures/Data/CPIForecasts.htm