Inquiring minds have been wondering about food prices. Let’s see if we can get a clue from raw commodity prices.
Wheat
Corn
Soybeans
Live Cattle
Lean Hogs
Coffee
Sugar
Charts courtesy of barchart.
Judging from a broad basket of commodity prices, we are likely to see declining prices at the grocery stores in the weeks or months ahead. Lower commodity prices will eventually pass through to prices in the grocery stores and thus be reflected in the CPI. Some very favorable year over year comparisons are coming up, especially if prices continue to decline.
Mike “Mish” Shedlock
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