Five of the past six months saw drops in average wholesale food prices, but that changed in November. Wholesale food prices at the final demand level rose 1.3%, according to the latest Bureau of Labor Statistics Producer Price Index data. Prices at the processed intermediate stage increased 0.4% while those at the unprocessed stage fell 1%.
On the consumer side, menu prices saw their strongest upturn since May, rising 0.3% in November; there was a 0.1% gain in October. Grocery store prices reversed, jumping 0.2% in November after falling 0.2% the month prior.
Overall, during the past 12 months, menu prices are 2.6% higher while retail food prices are up only 0.4%.
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