May 28, 2004 (The Editor’s Desk is updated each business day.)
Food inflation up in 2003
Food price inflation was higher in 2003, 3.6 percent, when compared with
1.5 percent during the prior year.
[Chart data—TXT]
Beef and veal prices rose 23.5 percent in 2003, following a 0.6-percent
increase in 2002. Beef supplies grew increasingly tight during 2003.
Pork prices increased 5.2 percent in 2003, after decreasing 2.3 percent
during the prior year. Pork production, in pounds, increased 1.3 percent
last year.
Chicken prices increased 4.7 percent in 2003, after decreasing 0.1 percent
in 2002. Fish and seafood prices increased 2.7 percent in 2003, following
a 1.1-percent decrease during the previous year.
Prices for dairy products increased 3.4 percent last year, after
decreasing 2.0 percent in 2002. Milk prices rose 6.9 percent. Cheese
prices increased 2.3 percent. Fresh vegetable prices increased 7.6
percent, following a 6.4-percent rise in 2002. Fresh fruit charges rose
1.4 percent, compared with 4.7 percent in 2002.
These data are from the BLS Consumer Price Index
program. For additional information, see "Consumer
prices during 2003," by Todd Wilson, Monthly Labor Review,
April 2004. Annual changes are December-to-December changes.
Related TED article:
Of interest
Spotlight on Statistics: National Hispanic Heritage Month
In this Spotlight, we take a look at the Hispanic labor force—including labor force participation, employment and unemployment, educational attainment, geographic location, country of birth, earnings, consumer expenditures, time use, workplace injuries, and employment projections.
.
Read more »