Tuesday, June 21, 2011

Government Reports Slight Rise in Food Inflation for May

Washington--According to the latest Consumer Price Index reported by the Bureau of Labor Statistics, the food index rose 0.4 percent in May, the same increase as in April. For food eaten at home, the index increased 0.5 percent and has risen 3.7 percent since December. The food at home index has risen 4.4 percent over the last year, with increases in all major grocery store groups.

The most recent CPI numbers track closely with the American Farm Bureau Federation’s second quarter Marketbasket Survey results, which were released last week. AFBF reported a 4 percent retail price increase for 16 staple foods compared to the prior quarter.

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