{"id":19077,"date":"2023-08-22T10:14:52","date_gmt":"2023-08-22T10:14:52","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19077"},"modified":"2023-08-22T10:14:59","modified_gmt":"2023-08-22T10:14:59","slug":"u-s-world-food-prices-easing-but-still-beyond-reach","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/08\/22\/u-s-world-food-prices-easing-but-still-beyond-reach\/","title":{"rendered":"U.S. & world food prices easing but still beyond reach\u00a0"},"content":{"rendered":"\n

A\u00a0World Bank<\/u><\/a>\u00a0report of August 16, 2023 paints a heartwarming picture of falling food prices. But there is a caveat: the global consumer price index is still way higher than it was in 2020 before the COVID-19 pandemic. <\/p>\n\n\n\n

In comparison with the 2015 to 2019 period, the 2023 prices are still\u00a050%\u00a0<\/a>higher. This is partly due to the sudden disruption of global supplies by the pandemic.<\/p>\n\n\n\n

The drop in prices of grains and the good promise from the newly planted August 2023 crops have, nevertheless, brought respite to consumers. <\/p>\n\n\n\n

Low-priced oils and pellet meals have also eased some of the expense of buying pricey vegetables. This impressive drop is happening in the face of\u00a0inflation<\/a><\/u> and Ukraine war’s toll on grain supply.\u00a0<\/p>\n\n\n\n

The U.S. CPI higher, PPI lower<\/strong><\/strong><\/p>\n\n\n\n

The Consumer Price Index (CPI) survey shows that prices of food in the U.S. increased by\u00a05.7%<\/u><\/a>\u00a0in June 2023 in comparison to June 2022. From May to June 2023, the prices rose by 0.3%. They then increased by 0.1% in the May-June period. <\/p>\n\n\n\n

The reason for the rise in June was inflation, which rose by\u00a03%<\/a>\u00a0from that of May, 2023.<\/p>\n\n\n\n

2022 registered the highest annual increase in food prices in the United States since 1979, at 13.5%\u00a0<\/u><\/a>over the equivalent in 2021.<\/p>\n\n\n\n

The Producer Price Index (PPI), however, has shown significant drops in the cost of some foods at wholesale markets. <\/p>\n\n\n\n

By July 2023, five PPI segments (grains, oils, eggs, dairy and grains) had fallen, while those in other segments (pork, live animals, beef) had increased.<\/p>\n\n\n\n

Wheat\u00a0<\/u><\/a>at the farm gate cost less by 3.9% in June 2023 than in May 2023 and declined by 31.5% from the prices of June 2022.<\/p>\n\n\n\n

Milk price at the farm gate in the United States fell by\u00a034%<\/u><\/a>\u00a0in June 2023 from that of June 2022.\u00a0Soybean prices\u00a0<\/u><\/a>at the producer level fell by 20% between June 2022 and 2023.<\/p>\n\n\n\n

Like their global equivalents, wholesale cooking oils declined in June 2023. They were down by 28.3% in comparison with June 2022.\u00a0<\/p>\n\n\n\n

The cost of American eggs at the farm gate increased by 48% in June 2023, above the June 2022 equivalent.\u00a0<\/p>\n\n\n\n

Thus, as prices of some food commodities continue to drop, those of others are still beyond reach.<\/p>\n","protected":false},"excerpt":{"rendered":"

A\u00a0World Bank\u00a0report of August 16, 2023 paints a heartwarming picture of falling food prices. But there is a caveat: the global consumer price index is still way higher than it was in 2020 before the COVID-19 pandemic. In comparison with the 2015 to 2019 period, the 2023 prices are still\u00a050%\u00a0higher. This is partly due to…<\/p>\n","protected":false},"author":3,"featured_media":19078,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nU.S. & world food prices easing but still beyond reach\u00a0 - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2023\/08\/22\/u-s-world-food-prices-easing-but-still-beyond-reach\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. & world food prices easing but still beyond reach\u00a0 - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"A\u00a0World Bank\u00a0report of August 16, 2023 paints a heartwarming picture of falling food prices. 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