Food Prices Increased In 2019, Similar Trend Expected This Year

When describing the food purchased at a grocery store, economists use the term "food at home".  USDA Economist Gianna Short said, according to the final retail price figures, 2019 grocery store prices increased less than 1% year over year.  An increase many expected.

“We are forecasting a similar rate of inflation somewhere between 0.5-1.5% for 2020,” Short said.

Last year, prices for four food groups decreased from 2018 numbers.  But for the year to come, Short said only has a couple of food groups where prices will drop: fats and oils which includes cooking oils, butter and peanut butter, and processed vegetables.

But when taking a look at 2020 in general.

“There's gonna be some ups, there's gonna be some downs, but on average we'll probably go up a little.”

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekradio.com