January 27, 2020

USDA- ERS: Food Price Outlook, 2013-14

From the U.S. Department of Agriculture’s Economic Research Service (ERS), Sept. 25- “The Consumer Price Index (CPI) for all food increased 0.2 percent from July to August, increased 0.1 percent from June to July, and is now 1.4 percent above the August 2012 level.

* The food-at-home (grocery store food items) CPI increased 0.2 percent in August and is up 1 percent from last August; and

* The food-away-from-home (restaurant purchases) CPI increased 0.2 percent in August and is up 2 percent from last August.

“The all-items CPI rose 0.1 percent in August and is 1.5 percent above the August 2012 level. The overall direction of food prices in 2013 continues to be mixed, and the food-at-home CPI is down 0.1 percent thus far in 2013. While there are no changes to the 2014 CPI forecasts, several forecasts for the remainder of 2013 have changed.”

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Farm Bill; Budget; and, the Ag Economy

Farm Bill Issues

Ron Nixon reported yesterday at The New York Times Online that, “House leaders on Tuesday said they were working with their Senate counterparts toward a new five-year farm bill, just days after the House pushed through a bill that would slash billions of dollars from the food stamp program.

“But with only a few days left before the current farm bill expires at the end of the fiscal year, and with a fight over the debt ceiling looming, few lawmakers see any chance of getting a new farm bill done.

“‘I’m an eternal optimist, but I can’t see them getting anything done before the fiscal year ends,’ said Dale Moore, the executive director of public policy for the American Farm Bureau Federation. ‘Right now we’re just hoping that something will get done before the end of the year.’”