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OverviewBetween April and May, the Consumer Price Index (CPI) for all food declined for the fourth consecutive month—the first time since 1958 that the CPI has declined for four consecutive months. Food prices decreased 0.2 percent in May but are still up 2.7 percent from a year earlier. Food-at-home decreased 0.3 percent but remains 1.5 percent above a year ago, while the food-away-from-home index increased 0.1 percent and now stands 4.2 percent above that of last May. Thanks to lower feed and energy costs, prices for beef, dairy, poultry, and eggs declined between April and May. Beef prices dropped for the sixth time in the past 7 months. Retail egg prices fell 10.4 percent in May and are now nearly 18 percent below a year earlier. Despite the recent moderation, the CPI for all food is still projected to increase 3 to 4 percent in 2009.
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Market Analysis for the 21st Century
New fiscal year 2008 funding provides ERS with
the resources needed to Strengthen
and Extend its Market Analysis and Outlook Program
and thereby provide the world-class analysis necessary
for 21st century agricultural markets.
Process
ERS outlook is a component of a larger USDA Process of
developing and disseminating forecasts. Learn more
about the process, players, and other outputs.
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