Outlook 2010:
Food Price Inflation Pegged At Lowest Level Since 1992
In 2010, the Consumer Price Index (CPI) for all food is projected to increase 0.5 to 1.5%—the lowest annual food inflation rate since 1992. Food-at-home (grocery store) prices are also forecast to increase 0.5 to 1.5%, while food-away-from-home (restaurant) prices are forecast to increase 1 to 2%. Although global economies have recovered somewhat from the 2008-09 recession, world economic activity remains below pre-recession levels, resulting in overall food price inflation in 2010 remaining below historical averages.
The all-food CPI increased 1.8% between 2008 and 2009. Food-at-home prices increased by 0.5%-the lowest annual increase since 1967-with dairy prices declining 6.4% and fresh produce prices dropping 4.6%, while food-away-from-home prices rose 3.5% in 2009.
The full analysis and projected retail food category price changes are available only to Food Institute members. Members login now.
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