The Food Institute reports that “prices for food-at-home increased 3.8% during 2004 over the prior year, the largest annual increase in 14 years, and well above the overall 2.7% increase in the All Items Consumer Price Index.”
The price increases were seen in all categories, but the biggest hikes were seen in beef and veal (+11.6 percent), poultry (+7.5 percent), dairy (+7.4 percent), and fats and oils (+6.6 percent).
These price increases at least in part contributed to the 4.2 percent sales increase seen by the supermarket industry as a whole last year, to $474.6 billion.
The price increases were seen in all categories, but the biggest hikes were seen in beef and veal (+11.6 percent), poultry (+7.5 percent), dairy (+7.4 percent), and fats and oils (+6.6 percent).
These price increases at least in part contributed to the 4.2 percent sales increase seen by the supermarket industry as a whole last year, to $474.6 billion.
- KC's View:
