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Better Farming Ontario Featured Articles

Better Farming Ontario magazine is published 11 times per year. After each edition is published, we share featured articles online.


Food inflation hits U.S.

Tuesday, February 1, 2011

Retail bacon prices were supposed to drop off at the end of summer as that wonderful season associated with fresh garden tomatoes came to an end. Instead, prices went the other way, according to the U.S. Bureau of Labor Statistics.

Its monthly Consumer Price Index indicates that September bacon prices averaged $4.77 (all figures in U.S. dollars) a pound in October, up from $4.57 in September and 33 per cent higher than a year earlier. It's the highest monthly average, unadjusted for inflation, since 1980.

Speaking of inflation, a broader consumer price index tracking beef, pork, poultry, fish and eggs rose for the ninth time in 10 months, a total of 5.8 per cent from the previous October.

Why? Cattle and hog herds shrank in the previous year, at least partially because of expensive corn. On top of that, there's more retail demand because more Americans are eating at home. Food prices are expected to continue the trend in 2011. BF
 

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Farms.com Breaking News

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New board members for Ontario Pork

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Ontario Pork, an association representing the 1,898 pork farms that market 5.9 million hogs in the province, has announced its new board lineup for 2025. As a Guelph, Ontario-headquartered organization, Ontario Pork is engaged in the areas of research, government representation,... Read this article online

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