Outlook 2010:
Retail food price inflation in 2010 will rebound.
In 2010, the Consumer Price Index (CPI) for all food is projected to increase 2.5 to 3.5%, with the same increase of 2.5 to 3.5% forecast for both food-at-home (grocery store) and food-away-from-home (restaurant) prices. Recovering global economies will lead to increased commodity and energy costs combined with stronger domestic and global food demand to push inflation up from the low 2009 levels. Retail food price inflation in 2010 (though not projected to be as strong as in 2008) will rebound from the 2009 level toward a moderate level, slightly above the long-term historical average.
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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