food price index

Agri View: Food Cost Drops in 2016

Dan Agri View

food cost

 

 

Everett Griner talks about food cost dropping in 2016 in today’s Agri View.

 

 

 

More than one agency keeps a tab on what we in America pay for food we consume. The Consumer Price Index is the most accepted source for yearly spending. For instance, we paid less for the foods consumed at home in 2016 than we did in 2015. They even told us why. The Strong dollar was one factor. Declining energy prices which allowed for cheaper transportation. And downward pressure on the whole food industry. The bottom line is overall supermarket prices slipped about 1.3 percent. Doesn’t sound like a lot but if you had your year’s supply of supermarket receipts. That is a lot of dollars. Several hundred dollars in fact. By contrast, the food you ate away from home cost you more last year. Hard to believe, but it is a fact.

That’s Agri View for today. I’m Everett Griner…

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