Wholesale food prices ticked higher in October

Growth in wholesale food prices accelerated in October, after slowing steadily in recent months. The Producer Price Index for All Foods – which represents the change in average prices paid to domestic producers for their output – increased 1.9% between October 2019 and October 2020, according to preliminary data from the Bureau of Labor Statistics.

October’s moderate gain came on the heels of four consecutive months of slowing growth. After soaring 7.7% in the 12 months ending May 2020, 12-month growth in average wholesale food prices slowed to just 0.5% by September.

Despite the acceleration in October, wholesale food prices remain on pace to register their sixth consecutive year of growth below 2%.

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