Skip to content
reydetallarines

reydetallarines

Technology and Age

Primary Menu
  • Computer & Technology
  • Digital Marketing
  • Packaging
  • Business
  • Fashion
  • Society
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Food prices are up and likely to keep rising. Here’s why.
  • Food

Food prices are up and likely to keep rising. Here’s why.

By Donna A. Dennis 3 years ago

Industry data show that Americans are spending more on food than before the pandemic. And in a sign of the times, that is driving up food prices amid the sharpest bout of inflation in the U.S in 40 years.

“Customer demand continues to outpace our ability to supply products,” Tyson Foods CEO Donnie King told a quarterly earnings call in February. Tyson’s average sales price for the quarter rose nearly 20% compared to a year ago, helping the meat company recoup higher costs including for labor and transportation.

Americans are paying 10% more for food the buy at the grocery store than a year ago, with beef prices rising 16%, federal data shows. 


Inflation raises cost of groceries – and risk of food insecurity

04:09

Factoring in both grocery store and restaurant purchases, food prices in March were up nearly 9% from a year ago amid surging demand over the last year, according to BofA Securities analyst Alexander Lin. 

“Americans are eating more than they did in the past, which has constrained retail inventories,” he said in a report. 

Lin also expects Russia’s invasion of Ukraine to lead to “sustained price increases” in the U.S. later this year and into 2023.

While most of what Americans spend on food has more to do with marketing and other expenses unrelated to U.S. farms, costs are still rising up and down the supply chain, Lin noted.

The cost of agricultural chemicals such as fertilizers and pesticides has risen 50% over the past year, with the war in Ukraine adding further pressure as Russia is a major exporter of nitrogen, potassium and phosphorous fertilizers. 

The USDA expects all food prices to rise between 4.5% and 5.5% this year.


How rising inflation is impacting businesses and families across the U.S.

02:22

Rising energy and transportation costs impact many things, food included. Trucking is the primary mode of transportation for food products, and the industry was already dealing with a shortage of drivers before the pandemic. Trucking costs have spiked during the pandemic. 

Another factor driving up food prices: the worst outbreak of avian flu since 2015, which is impacting commercial and backyard flocks in 29 states, according to a federal tally. It’s also already pushing egg prices higher, and poultry costs may not be far behind. The USDA said it now expects poultry prices to rise between 6% and 7% and egg costs to increase from 2.5% to 3.5% this year. 

Higher labor costs are another factor, but “companies have regained pricing power and are comfortable passing on these costs to the consumer,” Lin said.

The resulting expansion in corporate margins drew a more negative take from one watchdog group, which last week released a report contending some of the nation’s biggest retailers had used surging inflation as a guise to raise prices and profits. 

Tags: "Food Gift Baskets, Food Games, Food Grade Mineral Oil, Food Hall, Food Handlers, Food Handlers Card, Food Handlers Permit, Food High In Fiber, Food High In Iron, Food High In Potassium, Food High In Protein, Food Ideas, Food In Spanish, Food Inc, Food Insecurity, Food Insecurity Definition, Food Intolerance, Food Intolerance Test, Food Italy Is Famous For, Food Jobs, Food Jokes, Food Journal, Food Journal App, Food Journal Template", Food Justice, G Food Items, G Food Mart, G Food Mart Deli, G Food Names, G Food Near Me, G Food Store, G Food Truck, G Foods, H Food Express, H Food Logo, H Food Market, H Food Mart, H Food Mart Upland Ca, H Food Share Price, H Foods, H Foods Words, I Food Deli, I Food Items, I Food Near Me, I Food Real, I Food Real White Chicken Chili, I Foods, I Foods Names, I Foods Words

Continue Reading

Previous Best Work Clothes From Zara in 2022
Next Google Answers if Meta Description Matters for Rankings
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Nov    

Archives

  • November 2024
  • October 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • March 2020
  • November 2018
  • January 2017

Categories

  • Business
  • Computer & Technology
  • Dental Clinic
  • Digital Marketing
  • Fashion
  • Food
  • Health
  • News
  • Packaging
  • SEO
  • Society
  • Sports

Recent Posts

  • A Practical Guide for Creating Graphic Design Content for Marketing Agencies
  • Ruby Jewelry in Contemporary Art: A Modern Perspective
  • Essential Services That Keep Your Home in Top Shape
  • Best Psychic Readings in Woodbridge with Pandith Ramanath
  • ‘Old-fashioned’ traditions take center stage at Agricultural Fair

BL

BR

raisinagent
opulenttrips

SeedBL

Seedbacklink

bp

backlinkplacement.com

Copyright © All rights reserved. | Magazine 7 by AF themes.

WhatsApp us