Food prices are fundamental to our personal wealth and the wider economy. As we all need to buy food, the impact of price changes has a material impact on our personal finances.
To help you learn more about how food prices are changing, and the reason behind those movements, our highly knowledgeable Kiplinger Letter team will update you on all the important events and data (Get a free issue of The Kiplinger Letter or subscribe). Here’s the latest forecast…
Food prices fell in March for the first time since 2020, a 0.3% decline, compared with a 0.3% increase in Feb.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Major categories where prices fell include meat, poultry, fish and eggs (-1.4%), fruits and vegetables (-1.3%), fats and oils (-0.6%), and dairy and related products (-0.1%).
Individual categories that saw the biggest declines include eggs (-10.9%), lettuce (-5.7%) and ham (-5.1%).
But note that food prices are still up 8.5% over the previous year. Prices of eggs, the biggest decliner for the month, are up a whopping 36% year-over-year.
In other words, even if the slowdown in inflation continues through year-end, prices of many supermarket staples could remain elevated. Note that pressures persist throughout the agricultural supply chain, including high labor and feed costs.
This forecast first appeared in the The Kiplinger Letter. Since 1925, the Letter has helped millions of business executives and investors profit by providing reliable forecasts on business and the economy, as well as what to expect from Washington. Get a free issue of The Kiplinger Letter or subscribe.
Read more
- Dollar Tree has stopped selling this one staple
- Should you buy food stocks? We all gotta eat
- Rising prices: which goods and services are driving inflation?
- 8 ways to beat rising food prices
- 5 stocks for food inflation
- The best places to buy organic food on a budget
-
Strategies to Optimize Your Social Security BenefitsTo maximize what you can collect, it’s crucial to know when you can file, how delaying filing affects your checks and the income limit if you’re still working.
-
Don’t Forget to Update Beneficiaries After a Gray DivorceSome states automatically revoke a former spouse as a beneficiary on some accounts. Waivers can be used, too. Best not to leave it up to your state, though.
-
A Spotlight on the Pacific States: The Kiplinger LetterThe Kiplinger Letter Most Pacific states are seeing good job growth in multiple sectors including tourism, hospitality, and construction.
-
The Robots Are Coming... But Not For a WhileThe Kiplinger Letter There’s excitement in the tech sector over the potential of humanoid robots, but widespread adoption is likely to be years away.
-
Farmers Face Another Tough Year As Costs Continue to Climb: The Kiplinger LetterThe Kiplinger Letter Farm income is expected to decline for a second year, while costs continue to up-end farm profitability.
-
A Spotlight on the Mountain States: The Kiplinger LetterThe Kiplinger Letter Most Mountain states are seeing good job growth in multiple sectors from healthcare, energy, and semiconductor production to farming and government.
-
When's the Best Time to Buy a Domestic Flight? The Kiplinger LetterThe Kiplinger Letter A new study by CheapAir.com has crunched the numbers.
-
A Spotlight on the Plains States: The Kiplinger LetterThe Kiplinger Letter The labor market is tight in the Plains states and outside of healthcare and construction most sectors are flat or down.
-
Woes Continue for Banking Sector: The Kiplinger LetterThe Kiplinger Letter Regional bank stocks were hammered recently after news of New York Community Bank’s big fourth-quarter loss.
-
Kiplinger's Commodities ForecastThe Kiplinger Letter Following a rocky few years for markets, we expect commodities to be less volatile in 2024, as a post-pandemic normal finally emerges.
