Wholesale food prices post strongest 12-month gain in more than a year

Wholesale food prices registered a modest decline for the second consecutive month, according to preliminary data from the Bureau of Labor Statistics. The Producer Price Index for All Foods – which represents the change in average prices paid to domestic producers for their output – edged down 0.1 percent in August.

The August downtick followed a 0.2 percent decline in July. 

Despite the dips during the last two months, wholesale food prices stood 2.2 percent above their year-ago level. This represented the strongest 12-month gain since January 2018.

Track more economic indicators and read more analysis and commentary from the Association's chief economist Bruce Grindy.