Global food prices are at a six-year low, but American shoppers may want to check out why that isn’t leading to lower totals at the grocery store. Joseph Glauber, IFPRI senior research fellow and former chief economist at the U.S. Agriculture Department, told Bloomberg that changes in the price of raw agricultural goods have only a “limited impact” on the final retail price. According to the USDA, less than 16 cents of every dollar consumers spend covers farm operations. Read the full article online.
Why falling food prices around the world aren’t helping U.S. consumers (Bloomberg)
July 16, 2015