Are all food prices rising equally?
By EconoFact
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NO
Meat price changes have been a primary driver of recent overall food price increases. Changes in meat prices have a large influence in measures of inflation because consumers spend a high share of their food budget on these items. Beef, pork, and chicken prices were respectively 26.2%, 19.2%, and 14.8% higher in October 2021 than prior to the pandemic in January 2020. In contrast, prices for fruits and vegetables are about 5.5% higher over the same time period. Meat price increases were initially caused by disruptions in production capacity due to meatpacking workers contracting COVID-19. Now that packing has resumed, extra costs remain due to both pandemic-era safety measures and high prices for livestock feed.
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Sources
US Bureau of Labor Statistics Consumer Price Index (CPI) Databases
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