Growth in wholesale food prices accelerating

Wholesale food prices continued to trend higher in October, 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 – rose 0.6 percent in October.

October’s increase followed a 0.2 percent gain in September, and represented the strongest monthly gain since December 2018. 

Overall, wholesale food prices stood 2.9 percent above their year-ago level. This represented the largest 12-month increase in nearly two years.

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