Food price inflation over 2016–2020 equal to economy-wide inflation

Food price inflation over 2016–2020 equal to economy-wide inflation

From 2016 to 2020, the all-food CPI rose 7.8 percent—the same as the all-items CPI. Food price increases were below the 11.9-percent rise in medical care costs and the 11.4-percent increase in housing costs. Retail pricing strategies, efficient food supply chains, slow wage growth, and relatively low oil prices tempered food price inflation from 2016–2019; however, 2020 was a year of high food price inflation due to shifts in consumption patterns and supply chain disruptions resulting from the coronavirus pandemic.


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