Wholesale Food Prices Drop Again, Down 1.7% in February

As the U.S. Department of Agriculture forecast in December, wholesale food prices overall are declining, although certain commodities, especially beef, remain at very high levels. Wholesale food prices declined for the fourth consecutive month in February, according to preliminary figures from the U.S. Bureau of Labor Statistics and the National Restaurant Association released March 13. Average wholesale food prices fell 1.7% in February on the heels of a 1.8% drop in January and 0.6% declines in both November and December.

Overall, average wholesale food prices were down 4.7% during the last four months, the largest four-month decline in six years.  However, wholesale prices still remained 1.3% above their year-ago level, as a result of the steady run-up during much of 2014. On an annual basis, wholesale food prices have risen for five straight years, following a decline in 2009.

In February, even beef and veal wholesale prices fell, as did nearly all of the proteins except eggs and most dairy products other than butter. Fresh fruits and vegetables also showed a big price decline.