Source:  Rita Jane Gabbett, MEATINGPLACE, 5/25/11

Beef prices increased 1.2 percent in April and are 10.4 percent above last April, with steak prices up 8.2 percent and ground beef prices up 12.1 percent, according to USDA’s latest report on food inflation.

Pork prices decreased 0.3 percent in April but remain 10.4 percent above last April’s level.

Poultry prices increased 0.9 percent in April and are 2.3 percent above prices last year at this time, with chicken prices up 1.8 percent and other poultry prices (including turkey) up 4.1 percent.

Increased inflation for beef and pork products is expected for most of 2011. USDA projected beef prices will increase 7 percent to 8 percent this year and pork prices will rise 6.5 percent to 7.5 percent in 2011. Poultry prices are expected to rise 2.5 percent to 3.5 percent.

The Consumer Price Index for all food increased 0.4 percent from March to April 2011 after increasing 0.7 percent from February to March 2011. The CPI for all food is now 3.2 percent above the April 2010 level. USDA projects the cost of all food will rise by 3 percent to 4 percent this year.

The food-at-home CPI increased 0.4 percent in April 2011 and is up 3.9 percent from last April, while the food-away-from-home index was up 0.3 percent in April 2011 and is 2.1 percent above last April.
 

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