Cost of food in the United States increased 4.0 percent from a year earlier in May 2020, the most since January 2012. Food at home prices jumped 4.8 percent (vs 4.1 percent in April) amid coronavirus-related lockdown restrictions, while food away from home cost advanced 2.9 percent (vs 2.8 percent in April).
Food Inflation in the United States averaged 3.39 percent from 1914 until 2020, reaching an all time high of 36.70 percent in May of 1917 and a record low of -34.30 percent in June of 1921. This page provides the latest reported value for - United States Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Food Inflation - values, historical data and charts - was last updated on July of 2020. source: U.S. Bureau of Labor Statistics
Food Inflation in the United States is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in the United States to stand at 1.90 in 12 months time. In the long-term, the United States Food Inflation is projected to trend around 1.90 percent in 2021 and 2.10 percent in 2022, according to our econometric models.