Wholesale Food Prices Fell Again In July
Wholesale food prices fell for the sixth month in the last eight in July, according to Producer Price Index data from the Bureau of Labor Statistics. The All Foods Index was off 0.2% versus the prior month, following a half-point drop in June. Average wholesale food prices are down 0.9% during the past 12 months.
Meanwhile, on the consumer-price side, menu prices rose only 0.1% in July, the slowest increase since March. Menu prices were up 0.3% in May and 0.2% in June. Food-at-home prices rose 0.2% in July for the second month in a row. Still, menu prices have been increasing at a much faster rate than retail food prices. For the 12 months, retail prices are up only 0.4% while menu prices have risen 2.8%.