Wholesale food prices are on the rise
Summary
Wholesale fresh and dry vegetable prices rose 27% last month, following a 31% increase the month before. Higher fuel and fertilizer costs, along with weather, crop disease and insects, have raised food production and transport costs; grocery prices also increased last month.Key Facts
- Wholesale fresh and dry vegetable prices rose 27% last month after increasing 31% the previous month.
- Overall wholesale food prices were 1.7% higher than a year earlier, ending three months of annual declines.
- Warm weather, crop disease and insect infestations reduced California harvests of lettuce and other leafy greens.
- The Iran war has increased fertilizer and fuel costs, raising the expense of growing and transporting food.
- Truck freight costs were almost 25% higher than a year earlier, the largest annual increase since 2022.
- Grocery prices rose 0.4% last month, their largest monthly increase in six months.
- Fresh vegetable prices rose 2%, while lettuce prices increased nearly 8%.
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