Wholesale food prices declined for the third consecutive month

Average wholesale food prices trended lower for the third consecutive month in August, 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 – fell 0.6% in August.

The August dip followed declines of 5.5% and 0.9% in June and July, respectively. However, the 3-month slide was not enough to offset the strong 8.2% increase in May, which ranked only behind the 9.2% increase in August 1973 as the largest on record.

Overall, average wholesale food prices rose just 0.7% during the last 12 months.

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