Asia Edition
In 2016, US retail food prices decreased by 1.3 percent—the first time since 1967 that grocery store (food-at-home) prices were lower than those in the year before. Over the last 50 years, food-at-home prices have, on average, risen 4 percent annually. However, year-to-year price changes have varied over time.
High food price inflation in the 1970s—price increases as large as 16.4 and 14.9 percent in 1973 and 1974—was precipitated by food commodity and energy price shocks, whereas food price increases were minimal in 2009 and 2010, as the 2007-09 recession put downward pressure on prices for many goods, including food.
The unusual decline in retail food prices in 2016 can be attributed to a culmination of factors. Declining prices for retail meats, eggs, and dairy during that year are largely a story about rising commodity production. Lower transportation costs due to low oil prices and the strength of the U.S. dollar also placed downward pressure on food prices in the first half of 2016.
This chart appears in “Consumers Paid Less for Grocery Store Foods in 2016 Than in 2015” in the March 2017 issue of ERS’s Amber Waves magazine.
Announcements
Vacancies
- Sales Representative Substrates Peru
- Head Grower – High Technology Organic Greenhouse
- Import and Export Sales Manager
- Sales Manager - US
- Key Account Manager (f/m/d) - Full-time
- Vice President of Growing Operations
- Sales Manager
- Account Manager - United States
- Procurement Manager Blueberries
- International Fruit Trader
Specials more
US: Retail food prices declined for the first time in nearly 50 years
Publication date:
Receive the daily newsletter in your email for free | Click here
Other news in this sector:
- 2023-12-04 Retailers focused on holiday celebrations with offers
- 2023-12-04 Blueberry imports from Peru expected to decrease seasonally
- 2023-12-04 Belize sees an increase of 17% in cost of vegetables
- 2023-12-04 "All our cucumbers grown under lights, and more tomato varieties
- 2023-12-04 Spain promotes sustainable and efficient irrigation with a public-private investment of €745 million
- 2023-12-04 EU-27 fruit and vegetable exports to Canada are growing
- 2023-12-04 Moldovian authorities reject Russian ban on import of fruit and vegetables
- 2023-12-04 Multiple factors contribute to increase in fresh price in Malta
- 2023-12-01 US: Migrant labor on Georgia farms
- 2023-12-01 Collaboration agreement to benefit 100,000 workers in Mexico
- 2023-12-01 Crop damage caused by unseasonal rains climbs to 390,000 hectares in India
- 2023-12-01 Canadian fruit and veg growers optimistic as Bill C-280 moves to second reading
- 2023-12-01 "You can source more from Belgium"
- 2023-11-30 Kazakhstan and Kyrgyzstan Exports: Rosselkhoznadzor's findings on Kuzbass quarantined product imports
- 2023-11-30 Strike threatens to interrupt Argentine exports for three days
- 2023-11-30 UK strengthens ties with Morocco, tripling fresh produce imports
