Wholesale Food Prices Spiked in March

After three months of declines, food prices at the wholesale level surged 2.3% in March, as major proteins, fresh vegetables, and eggs saw major price gains. It was the largest single-month gain since April 2014. Prices are up 2.1% for the past 12 months, according to Producer Price Index data from the Bureau of Labor Statistics.

Wholesale beef and veal prices rose 7.6% from February to March, fresh vegetable prices soared 53.6%, and prices for unprocessed fin fish jumped 62.5%, according to BLS detail. Egg prices rose another 41.6% and are running 179% higher than a year ago. On the other hand, pork prices rose only 0.1% and are 3.4% lower than a year ago. Prices for poultry rose 1.2% in March and are down 4.7% during the past 12 months.

Meanwhile, on the consumer side, menu prices increased only 0.1% in March versus February, after four month of increases of 0.2% to 0.4%. Menu prices have increased 2.5% during the past 12 months. Grocery-store prices also rose 0.1% in March, but are up only 0.4% over the past year.

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

RELATED CONTENT

National Restaurant Association Cancels May Event

Gathering stipulations have forced the cancellation of the National Restaurant Association 2021 Show, organizers announced today, Feb. 26. The show was previously scheduled for May 22-25 at McCormick Place in Chicago….

Read More...

SHFM Pushes National Conference to December

Industry events including the National Restaurant Association’s 2021 show in May & The NAFEM Show 2021 in August currently remain unaltered.

Read More...

TriMark, Middleby Expand Portfolios With New Facilities

Two suppliers debuted new interactive foodservice-equipment facilities this week.

Read More...