The issues driving food-price inflation are expected to persist, signaling higher food costs could be with us for the foreseeable future.
This article first appeared in Barron’s.
The crisp morning air heralds the inevitable end for the two tomato plants on my fire escape. But four of my prized Atlas Hybrids are still ripening, which means I’ll escape the tomato-price inflation that helped boost the latest consumer-price-index reading, if only for a meal or two.
Tomatoes aren’t the only food that cost more in August, according to the Bureau of Labor Statistics. Grocery prices, as measured by the food-at-home subindex of the CPI, rose 0.6% in the month, the largest monthly increase in nearly three years. Costs were up in every grocery-store food group tracked in the CPI, and there is little reason to expect the forces driving prices higher will abate soon.
Read the full article in Barron’s.
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