There are some surprises in the latest Consumer Price Index centering on food.
Economists at the Department of Agriculture had expected a price decrease from highs reported in the spring and summer of 2020. The two-tenths of a percent increase at grocery stores in February follows a three-tenths increase the month before. Increases in the latest report put pork up seven-tenths of a percent, beef and veal four-tenths – eggs were higher as well as were fresh fruits, fats and oils.
Some foods registered a decline last month including fresh vegetables, sweets, poultry and seafood. Still, the overall picture is one of higher food shopping expenses in the opening months of 2021.
Comments